Heartland Bank has launched a new business loan with flexible repayments to help organisations take control of their cashflow amid the pandemic.
The new adjustable term loan, Heartland Extend, aims to give businesses the flexibility to increase or decrease their regular repayment amounts.
Heartland Extend has a 10-year loan term with a minimum repayment amount, but borrowers can choose higher regular repayment amounts whether immediately or as their situation changes. They can also lower their repayments to the minimum amount at any time, without extra charge.
This year has been a prime example of how a business' situation can change incredibly quickly,” said Heartland Bank chief executive officer Chris Flood.
“We created Heartland Extend to help businesses manage their cashflow in these uncertain times, safe in the knowledge that they can lower their loan repayment amounts when times are tough and increase them again when they're not.”