The campaign, which is aimed at new and existing credit line customers via brokers and intermediaries, follows a similar, successful three-month ‘no documentation fee’ campaign in mid-2019. The latest reduction means Cambridge & Counties Bank is continuing to offer one of the most competitive asset finance credit facilities in the UK.
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 – such as £100k, £250k and £150k – 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. The bank’s asset finance suite helps SMEs invest in business-critical assets such as vehicles, construction equipment, plant and machinery, cranes and CNC machinery.
Simon Hilyer, Senior Business Development Manager at Cambridge & Counties Bank, said:
“Our last campaign showcased the competitive nature of our products. We are building on that further as we look ahead to 2020 and a year of growth and expansion for the bank. Our proposition has been welcomed by our partner introducers and we expect this campaign to once again further cement our broker relationships. Unlike many lenders, Cambridge & Counties Bank completes the agreement documentation on behalf of brokers, saving significant time and effort for them and their clients.
Credit Lines can be a compelling solution for many businesses, helping to fund expansion plans, for instance, or release finance locked into fixed assets, provide a cash flow injection and help finance balloon payments, among others.”
Simon Burns at Equilibrium Finance, said:
“Cambridge & Counties Bank has continued to offer a very competitive asset finance solution in the UK market, and has sought to work closely with brokers to the benefit of their clients. Campaigns such as this latest one can have a material impact on demand, and we welcome the bank’s focus on seeking to grow its market share in the asset finance sector.”
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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.
VAT Registration Number GB 208354420.
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The Bank of England Base Rate was decreased to 0.1% on 19 March 2020.
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