Pluto Finance Approved for Accreditation Under CBILS

Posted by Pluto Finance on 26th March 2021 -

Pluto Finance has announced that it has been accredited by the British Business Bank as a new lender under the Coronavirus Business Interruption Loan Scheme (CBILS), providing term bridge loans from £3 million + for property developers.

Justin Faiz, Partner at Pluto Finance, comments: “We have been working with British Business Bank over the past six months to put into place the operations required to lend under the CBILS scheme and at the same time have been able to assess and have initiated loan applications for a number of property developers.”

“We are pleased to be able to help businesses continue with their development plans despite the short-term uncertainties raised by the pandemic and there is still time for businesses to submit their applications under CBILS, so we encourage developers to get in touch to discuss their requirements. Although the scheme is due to come to an end on 31^st March, all applications submitted before this time are eligible under the criteria set out.”

 

Delivered through British Business Bank accredited lenders, CBILS 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.

 

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).

 

 About Pluto Finance

Pluto Finance is a specialist residential development lender focusing on stretch senior, senior and bridging loans. Pluto’s investors are top-tier global financial institutions.

Pluto Finance has been actively lending since 2011 and is currently funding the construction of around 2,000 new homes. Independently owned, Pluto Finance employs a team of 20 specialist property lending professionals based in London.

 

Pluto Finance provides a fast turnaround time and an excellent quality of customer service. Over half of Pluto’s loans are made to repeat borrowers.