Digitalbox secures five-year £0.45m CBILS loan
By Josh White
Date: Friday 25 Sep 2020
(Sharecast News) - Digital media company Digitalbox announced on Friday that, in a bid to strengthen its balance sheet and assist liquidity, it has secured a £0.45m five-year term loan facility under the British Business Bank's Coronavirus Business Interruption Loans Scheme (CBILS), from its bankers NatWest.
The AIM-traded firm owns the Entertainment Daily and The Daily Mash digital media titles.
It said the facility could be drawn down at any point before 9 December, with a 12 month interest-free period following drawdown, and an interest rate of 2.48% per annum on the drawn down amount after that.
"The funds are repayable commencing 12 months after drawdown in equal monthly instalments for the remaining four years," the board explained.
"There will be no penalty for making early repayments of all or part of the facility."
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