Cambridge & Counties Bank, the specialist lender, is waiving the documentation fee for all asset finance deals drawn under a credit line between 1 February – 30 April this year.
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 three-month campaign 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. 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.
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Simon Hilyer, Senior Business Development Manager at Cambridge & Counties Bank, said:
“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 following a difficult 12 months or to release finance locked into fixed assets, providing a cash flow injection among other benefits.”