SCANIA FINANCIAL SERVICES BECOMES LATEST LENDER APPROVED FOR ACCREDITATION UNDER CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME (CBILS)

Scania Financial Services is one of the latest delivery partners to be approved for accreditation as a new lender by the British Business Bank for the Coronavirus Business Interruption Loan Scheme (CBILS).

The Coronavirus Business Interruption Loan Scheme, delivered through British Business Bank accredited lenders, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

Under the scheme Scania Financial Services will be able to provide asset finance solutions to SMEs within the transport industry across the UK that are losing revenue and seeing their cashflow disrupted as a result of the Covid-19 outbreak.

Alan Rhodes, Managing Director, states “Our ambition is to continue to support UK transport operations with a wide range of products and solutions, thereby providing additional support to businesses within the industry. This we understand will become increasingly important as the economy starts to rebuild and grow after the current COVID- 19 situation. We strongly believe that what we can provide through CBILS will be of benefit to customers during this difficult time.”

Scania Financial Services provides tailored finance and insurance solutions for customers across the truck, bus and coach sectors throughout the UK.

“A key focus for us is to keep businesses moving forwards, supporting those whose future has been adversely affected. This is a great addition to the solutions we can offer.” said Adam Drawwater, New Business Manager.

To find out how Scania Financial Services can help you and your business please contact your local Relationship Manager.

For all Scania Financial Services press enquiries please contact:

communications.sfgb@scania.com

About CBILS

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS).