CBIL loan for a long established industrial estate
Our client was under pressure to repay existing debt to their long standing clearing bank, having been through a tough year, impacted by COVID. The clients portfolio was significant but mostly made up of development plots, with little income to support new debt.
The government backed CBIL scheme was a perfect solution. Interest free debt for 12 months, allowing the borrower time to recover and put the portfolio back on a stable footing. Bircroft worked closely with the borrower to get the CBIL loan drawn within the restricted timeframe.
- Working with a client that has banked with one lender for 25yrs and so had little idea of the current hurdles for refinancing debt, especially for a CBIL loan
- Bircroft played an instrumental role in cutting through the problems against a strict completion deadline