The company: A development firm founded in April 2020 is undertaking the construction of five new-build plots located in the East Midlands.
Funding: The Construction received funding from BLG under the Coronavirus Business Interruption Loan Scheme (CBILS).
Purpose: To support the business as a result of the COVID-19 outbreak.
The company found the pandemic hampered its efforts of securing development finance through traditional methods. Without funding, the company would not be capable of progressing with its current project.
Solution: Coronavirus Business Interruption Loan Scheme (CBILS).
BLG helped them secure development finance in four weeks. When asked about the process of applying for funding under the Coronavirus Business Interruption Loan Scheme, The Director of the construction company, said, “It’s a great scheme; however, it is best to go through a company like BLG.”
He continued, “CBILS has allowed my company to progress and gives me great hope for the future. I worked closely with BLG, and it was a smooth process.”
Conclusion: The Coronavirus Business Interruption Loan Scheme gives smaller businesses affected by coronavirus a route for acquiring the financial support they need.