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Getting back to BAU (Business as Usual!)...

With the world of business finance focussed on the Governments' 2 support loans, CBILS and Bounceback, the last 4 months have been all about securing these facilities to stay afloat. Not much else has been going on, particularly in the property sector, with moving house, taking on commercial mortgages or simply bridging the gap on property deals, this sector had come to a halt just as much as trading businesses closing their doors. Hospitality, retail, manufacturing, almost most sectors were forced to shut down and whole supply chains fell apart.

Now is the time to move forward and think ahead, put your business plan into action, onto the road to recovery. In the last week, we have seen many businesses across a host of industries return to work and open their doors again to customers. Unfurloughing staff has been the order of the day and credit management is beginning to move again with invoices being paid, arrangements put in place with HMRC have provided that vital lifeline and perhaps now, we can all start to see light at the end of the tunnel. We don't want to think about a second wave, but it's important to react and mitigate the impact should this happen.

We are seeing a remarked interest in businesses feeling confident about borrowing money again, this is in addition to any Government support they might have received. A survey carried out shows that the cash businesses borrowed 4 months ago was used for emergency cash flow to get them through the summer. That cash is now beginning to run out but revenues are still slow to come in at the rate they need to be. Most businesses will have depressed turnover by up to 70% depending on what sector they are in.

We are supporting businesses with a review of the debt they took on and what was already on the books, as well as talking through what CAPEX plans they have for the next year. Businesses are now borrowing money for the following:

-Stock purchase and gearing up where discounted prices are available
-Office/retail refurbishment - perhaps downsizing and taking on new premises due to staff working remotely
-Advertising and marketing projects to re-launch
-Working capital whilst new payment terms are being renegotiated with suppliers and customers
-Going digital - diversifying themselves to stay ahead of the game


A second CBILS facility might be the answer and this is available from your own or another lender, we are facilitating this. Funders are now beginning to open their doors and returning to conventional lending if the business can afford this and can now start to meet repayments. Call today to find out whether you are eligible for a "Top-up CBILS" or whether another facility might be possible for your business now.

A business funding review with us will also allow you to sit down and plan properly for any working capital, growth or investment capital expenditure that you will have need of or have planned over the next 12 months.

Our review of your funding requirements and recommendations is made FREE of CHARGE and CONFIDENTIALLY. If we feel you have made some good choices along the way, we’ll tell you. If, on the other hand, we find that you could benefit from a better solution, we’ll work with you to put it in place and improve the profits and cashflow in your business.

Business loans have a 30% higher success rate of being approved when you engage the services of a good Broker!

Please contact me directly in the first instance;

Tamara Renshaw – Chartered Banker
Email: tamara.renshaw@productivityfinance.co.uk
Mobile: 07741 478221
Office: 02380 763905



By Tamara Renshaw from Productivity Finance, 2 weeks ago.

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