UC&C vendor Wildix has announced an agreement with Tower Leasing, an accredited Coronavirus Business Interruption Loan Scheme (CBILS) lender with a long history of providing asset finance to channel partners.
The agreement will enable Wildix partners and their customers to take advantage of the Government-backed finance scheme through which lenders are able to provide facilities of up to £5m to smaller UK businesses experiencing lost or deferred revenues and disruptions to their cash flow.
Tower Leasing, one of more than 60 lenders accredited for CBILS via the British Business Bank, is able to provide asset finance advances of between £1k and £30k to SMEs that without the CBILS scheme would find it difficult raise finance due to the impact of COVID-19.
Ian Rowan, Senior Channel Manager at Wildix, says that since the lockdown Wildix has been looking for ways to support its partners, for example through additional online training, which furloughed staff are allowed to undertake, and now the arrangement with Tower Leasing.
He said: “We first saw the CBILS scheme a few months back and wondered how we could use this to help our partners keep the wheels turning. As soon as we saw that Tower Leasing was an approved lender, we contacted them; it was wonderful to see they had the same appetite as us to help the channel. This collaboration will go a long way to help our partners continue to operate in a time that many people are finding challenging.”
Kerry Howells, Managing Director of Tower Leasing, added: “The CBILS scheme is all about keeping the UK economy moving and funding solutions that make a difference to SMEs that have been affected by the COVID-19 pandemic. While many lenders have been turning away finance requests, we have been looking for ways that we can offer additional services and funds to those businesses that need investment to ensure the impact of the lockdown is minimised. This is where our CBILS offering can really support the customers of Wildix.”