London, Thursday 9th April, 2020. Salamanca Group, a leading Merchant Banking business, home to experts in global investment advisory today announced a new partnership with Hines Associates– a specialist corporate finance advisor to financial institutions.
Launched in March, in response to the coronavirus outbreak, the Coronavirus Business Interruption Loan Scheme (CBILS) is a government-backed loan scheme aimed at supporting SMEs by providing access to asset finance facilities of up £5 million for six years.
Under the scheme, the government will also make a Business Interruption Payment to cover the first 12-months of interest payments and any lender-levied fees; therefore businesses will benefit from no upfront costs and lower initial repayments.
However, recent analysis shows that many lenders are inundated with CBILS applications, whilst loans haven’t been accepted due to businesses providing insufficient evidence or not building a strong enough business case. This is partly due to companies finding the application process complex and time consuming, diverting attention away from running their business.
In response to this, Salamanca Group and Hines Associates have partnered to launch a rapid response team to support the large volumes of businesses needing to prepare robust business cases to accesses the loans. Together, they provide a quick, pragmatic response to a complex process by helping clients have a properly made application with all required information. This will likely expedite the process, facilitating more loans by lenders in the CBILS loan window of opportunity.
More information on service that will support companies seeking CBILS – click here.
To download our CBILS flyer – click here
Martin Bellamy, Salamanca Group’s Chairman, comments “We have a responsibility to make sure our clients have the funding they require to navigate through the current crisis. The partnership with Hines Assoc. is key to meeting the demand of new business in expediting approval of Government loans.”
“It’s rare to find an organisation like Hines Associates. whose depth of knowledge in their domain so closely matches our own. We believe that the collaboration between us has created a unique solution tailored explicitly to Businesses needing a much-needed cash injection at this time.”
Richard Hines, Hines Associates. Founder, comments “Salamanca Group has a strong track record in providing corporate advisory and funding solutions to organisations in distress, and we are delighted to be working together. This new relationship cements Salamanca Group’s commitment to ensuring their clients are equipped to access the loans and to simplify the process involved.”
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For further information contact:
Daniela Sarti, Salamanca Group
Tel: +44 (0)20 7495 9152
About Salamanca Group
Salamanca Group is a privately-held Merchant Banking business, home to experts in global investment and advisory, with a focus on real estate. Salamanca Group’s real estate team has operated across the globe, purchasing land, developing sites and buying businesses related to the sector. The Group’s focus is on large projects in the UK having divested many of its overseas assets. The Group works with clients to enable their business, protect their assets and grow their capital.