AFP, a specialist capital provider to UK SMEs operating in the agriculture and energy infrastructure sectors, has today been approved for accreditation by the British Business Bank under the government-backed Coronavirus Business Interruption Loan Scheme (“CBILS”).
CBILS, delivered through British Business Bank accredited lenders, is designed to support the continued provision of finance to UK SMEs during the COVID-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to UK SMEs who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
Under CBILS, AFP will offer revolving credit facilities, asset finance and term loans for amounts up to £5 million for terms up to 6 years both to refinance existing debt as well as for net new borrowing. The government will pay interest for borrowers for the first 12 months.
“We are delighted to be able to bring this important service to agriculture and energy infrastructure sectors during these unprecedented and challenging times,” says AFP chief operating officer, Steve Shore.
“While agriculture has largely continued as normal in order to bring food to our supermarket shelves, the industry faces the same challenges to revenues and cash flow as any other sector as a result of the knock-on effects of the COVID-19 outbreak.”
Full details on eligibility and how to make an application can be found by visiting www.afp.uk.com.
AFP is an independent direct lender to the agriculture and energy infrastructure sectors. The Cambridgeshire-based firm lends to SMEs across the country, through revolving credit facilities for inputs, equipment, machinery, vehicles and livestock, secured term loans for land, buildings and renewable energy infrastructure assets as well as hire purchase and lease agreements for equipment, machinery and vehicles. As a result of its ability to finance across asset classes, AFP is uniquely positioned to help SMEs consolidate their debt, simplify their capital structure and enhance their financial flexibility and liquidity.
AFP has a financing partnership with the international investment manager M&G Investments, which is wholly owned by M&G plc.
Signup to our AFP Mailing List below to receive regular updates.