Scania Financial Services has been approved for accreditation as a lender for the Coronavirus Business Interruption Loan Scheme (CBILS) by the British Business Bank.
Under the Scheme, Scania Financial Services will be able to provide asset finance solutions to SMEs within the transport industry that have seen revenue and cashflow disrupted by the coronavirus COVID-19 outbreak.
Through CBILS, lenders can provide facilities of up to £5m. Scania Financial Services says that coach and bus operators are a key focus for its CBILS activity.
All operators can apply to Scania Financial Services for a CBILS loan. They do not have to be existing Scania customers.
Says Scania Financial Services Managing Director Alan Rhodes: “Our ambition is to continue to support UK coach and bus operations with a wide variety 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 coronavirus COVID-19 situation. We strongly believe that what we can provide through CBILS will be of benefit to customers during this difficult time.”