Left side advert image
Right side advert image
Super banner advert image
Subscribe to Print Monthly's RSS feed

Enter your email address here to sign up for our weekly newsletter

Business

Compass offers coronavirus funding support

Compass Business Finance is making available loans of up to £250,000, with 12 months capital and interest free, to UK printing businesses as part of the government’s Coronavirus Business Interruption Loan Scheme (CBILS).

Article picture

Compass says loans terms are now being delivered via a faster and simplified application process

Loan terms are between two and five years, with no upfront or early settlement fees. Compass also notes that decisions on the loans are typically made within 24 hours of application.

To be eligible for the CBILS loans, a printing business must be based in the UK and have been adversely affected by coronavirus. Businesses may only have a maximum turnover of £45m – 50% of which from trading activity – and at least three years of trading history.

Compass says the loans can only be used for business purposes and for primarily trading within the UK.

Jamie Nelson (pictured), director of Compass Business Finance, says: “New opportunities for business support are becoming available all the time, being able to offer loans that include the first 12-months capital and interest free is a major step forward.

“The changes in the application process are also a significant improvement, as this has been the cause of much pain to businesses to this point.”

If you have an interesting story or a view on this news, then please e-mail news@printmonthly.co.uk

Follow Rob on:
Sophie Jones' Twitter Profile


Print printer-friendly version Printable version Send to a friend Contact us

No comments found!  

Sign in:

Email 

or create your very own Print Monthly account  to join in with the conversation.