Stockport finance specialist approved as CBILS Lending Partner

Johnson Reed, has been accepted and approved by Accredited Coronavirus Business Interruption Loan Scheme (CBILS) Lenders as an Accredited Lending Partner. The Stockport based business finance specialist can now offer businesses and suppliers the opportunity to apply for vital business finance during the coronavirus outbreak.

As an approved intermediary, Johnson Reed can make CBILS applications for companies that have been trading for a minimum of three years, applying for loans between £50,000 and £250,000 with a guaranteed APR of below 9 per cent and no repayments due for the first 12 months. Terms for the loans are typically between 24 and 60 months and are 80% backed by government.

To be eligible, businesses must be UK-based with a turnover of less than £45m, of which more than 50 per cent must come from trading activity rather than investments.

Managing Director Mark Johnson said:

For 20 years Johnson Reed have been funding small businesses. Never has it been more important than now to support our clients with cash-flow.

“We’re working tirelessly to support all our clients and increase facilities with our lending panel, ensuring a simple and fast process.”

The CBILS funding for businesses adversely affected by the coronavirus outbreak was announced by the Chancellor in March as part of a £330 billion economic support package.

Further information on accessing the CBILS funding is available from the Johnson Reed website.