Jon Salisbury

Ortus Secured Finance accredited as CBILS lender

Short-term lender Ortus Secured Finance has been accredited as a new lender under the Coronavirus Business Interruption Loan Scheme (CBILS) by the British Business Bank.

The lender will offer secured term loan facilities from £250,000 for periods of up to three years, and the government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees.

By doing so, smaller businesses will benefit from no upfront costs and lower initial repayments.

Jon Salisbury, managing director at Ortus Secured Finance (pictured above), said: “We’re delighted to have been accredited by the British Business Bank as a CBILS lender. 

“This will allow us to play our part in supporting SMEs across the UK who have genuine funding needs as a result of the pandemic.” 

He encouraged introducers to get in touch with Ortus to discuss their clients’ needs.

CBILS is designed to support UK SMEs who have been financially impacted by Covid-19.

The scheme enables accredited 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.

To be eligible for a facility under CBILS, the borrower’s business activity must be UK-based with a turnover of no more than £45m per year.  

The borrower must have been adversely impacted by the coronavirus, and the purpose of the loan needs to be viable, were it not for the Covid-19 crisis.

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