JCB Finance Ltd Accredited to Provide CBILS-Backed Asset Finance on JCBs

JCB Finance has been accredited by the British Business Bank to provide the Government Coronavirus Business Interruption Loan Scheme (CBILS) – a scheme, designed to support the continued provision of finance to UK smaller businesses (SMEs) during the COVID-19 outbreak.

JCB Finance new and existing customers, who need to invest in JCBs, machinery or commercial vehicles but have concerns about the impact of Coronavirus on their cash flow, will be able to apply for a CBILS-backed Hire Purchase facility. The fixed rate facility will have a 6 month payment pause, then 48 monthly instalments with the British Business Bank paying the interest during the first 12 months.


Key features;

• Available on HP Fixed and HP Plus

• No capital payments for 6 months

• No interest payable in the first 12 Months

• Interest to be charged at 3.99% per annum fixed

• Interest rate after interest support is 2.39% per annum

• Up to 53 month term

• No customer fee to access the scheme

• No personal guarantees for facilities under £250k.

• The borrower remains 100% liable for the facility at all times.

You can apply if;

• Your business is based in the UK with turnover of no more than £45m per year

• Has been negatively impacted by coronavirus

• Have a borrowing proposal which, were it not for the current pandemic, would be considered viable by JCB Finance

• Your business generates more than 50% of your turnover from trading activity

• Your CBILS-backed facility will be used to support primarily trading in the UK

You cannot apply if;

  • You operate in one of the following industries; Banking, Building Societies, Insurers and Reinsurers (but not insurance brokers) or the public sector, including state funded primary and secondary schools.


Please note that as of 17 December, the Government has announced that the Coronavirus Business Interruption Loan Scheme (CBILS) will be extended until 31 March 2021.Facilities must be applied for and accepted by this date and drawn down within six months of acceptance.

Call Oliver Landpower Ltd for details of your local JCB Finance Relationship Manager

The Coronavirus 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 & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit british-business-bank.co.uk.

Oliver Landpower Ltd (Registered in England No: 6612348 Registered office: Wandon End, Luton, LU2 8NY) is authorised and regulated by the Financial Conduct Authority. Oliver Landpower Ltd is a credit broker and JCB Finance Ltd are its preferred supplier of Finance. JCB Finance Ltd (registered in England No:972265 and whose registered address is: The Mill, High Street, Rocester, Staffs, ST14 5JW) is authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 708332). We receive a commission from JCB Finance which is a tiered flat fee that is based on the value of the finance agreement. These payments are not additional fees that you will have to pay and do not affect the amount you pay under your finance agreement. Finance is restricted to business users only in the United Kingdom, subject to acceptance by JCB Finance Ltd. Terms apply.