JCB Finance milestone

21 January 2021

JCB Finance reports that it has delivered more than £50m of loans to businesses in the construction industry to lessen the impact of the pandemic.

The money has been distributed through the Coronavirus Business Interruption Loan Scheme (CBILS) designed to support the continued provision of finance to smaller businesses.

As an accredited lender, JCB Finance has been assisting new and existing customers who need to invest in JCB equipment or other qualifying plant and vehicles.

Customers have been able to access the scheme, used to back a fixed rate hire purchase facility with a six month payment pause, followed by 48 monthly instalments.

The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied charges.

The scheme has been extended to 31 March and borrowers have six months from receiving the loan offer to draw down the facility.