Aldermore uses government coronavirus loan scheme to help SMEs

Aldermore has confirmed it is offering the asset finance variant of the Coronavirus Business Interruption Loan Scheme to help SMEs.

Aldermore will potentially be able to provide asset finance facilities to SMEs to support their investment in new and used assets for advances between £50 - £250k.

There will be no guarantee fee for SMEs to access the scheme.

Interest and fees will be paid by the government for the first 12 months.

Aldermore is working in cooperation with the British Business Bank and has plans to join other variants of the scheme.

Tim Boag, group managing director of business finance at Aldermore, said: “Small and medium-sized enterprises are the backbone of the UK economy and it is our mission at Aldermore that we do everything we possibly can to help them succeed during this time of uncertainty.”

More information about eligibility and benefits can be found on Aldermore’s website.

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