Norman Broadbent secures new loan facility

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Apparently, only one in 10 applicants in Norman Broadbent's sector get approved when applying for a loan under the British Business Bank's Coronavirus Business Interruption Loans Scheme (), the executive search specialist, has strengthened its balance sheet with a £250,000 six-year loan facility. The facility has been secured under the British Business Bank's Coronavirus Business Interruption Loans Scheme (CBILS) from its bankers, . The facility can be drawn down at any point before January 16, 2021, with a 12-month interest-free period following drawdown, after which an interest rate of 4.75% per annum over ’s base rate on the drawn down amount will apply. The funds are repayable commencing 12 months after the drawdown in equal monthly instalments for the remaining five years, with no early repayment penalty. Norman Broadbent has also agreed on a new invoice financing facility with Metro Bank and a further £1,500,000 is now available under this facility in addition
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