In line with this, Cambridge & Counties Bank, the specialist lender, is extending waiving the documentation fee for qualifying asset classes drawn under a credit line until 31st May 2021. The bank’s business customers will save a £200 documentation fee each time they draw down from a pre-agreed credit line during the promotional period.
The extension of the campaign also allows businesses to invest in new capital expenditure and benefit from their £1 million annual investment allowance for qualifying purchases.
Credit lines are useful for SMEs and business owners looking for cost-effective and quicker access to funding. If a customer takes a credit line for £500k, for instance, they can draw down individual amounts during the promotional period and not pay any documentation fees.
Cambridge & Counties Bank offers a competitive range of asset finance products in the UK market – a market in which some lenders have either left or cut back their exposure.
Simon Hilyer, Senior Business Development Manager at Cambridge & Counties Bank, said:
“The recent Government announcement introducing a new 130% capital allowance on qualifying assets is very welcome. To coincide with the encouraging news, we’re extending our promotion until the end of May to help businesses following what has been a difficult 12 months. Our highly competitive credit line facility is ideal for businesses wanting to benefit from the £1m annual investment allowance provided by the government until the end of 2021. Credit lines can be a compelling solution for many businesses, helping to fund expansion plans or to release finance locked into fixed assets, providing a cash flow injection among other benefits.”
More information can be found here
Cambridge & Counties Bank Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under firm registration number 579415. Our authorisation can be checked at the Financial Services Register at www.fca.org.uk.
Cambridge & Counties Bank Ltd Registered Office: Charnwood Court, 5b New Walk, Leicester England, LE1 6TE. Registered in England and Wales No. 07972522.
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