Success Story
| Region/Nation | West Midlands |
|---|---|
| Programme | Coronavirus Business Interruption Loan Scheme (CBILS) |
| Partner |
Britannia Site Solutions secured funding via CBILS to relieve the company’s cash flow situation after several projects were delayed due to the coronavirus outbreak.
In addition, to protect the safety of the company’s staff and sub-contractors, Britannia has suspended work on all construction sites until the end of the April.
The company accessed CBILS funding from accredited alternative lender BCRS Business Loans, who are offering loans from £10,000 to £150,000 to support businesses in the West Midlands that have been affected by the coronavirus.
As part of the CBIL scheme, the Government makes an initial Business Interruption Payment to delivery partner BCRS Business Loans to cover interest and lender-levied fees for the first twelve months, so businesses benefit from no upfront costs and lower initial repayments. Plus, no personal guarantees are required on CBILS loans delivered by BCRS Business Loans.
Britannia Site Solutions is an innovative and creative roofing and cladding sub-contractor offering superior quality products that deliver sustainable best value technical solutions. We have worked on a number of major projects, including the Aerospace Technology Centre in Nottingham, Malvern Science Park and ASDAs right across the country, to name just a few.
Securing funding from CBILS was an essential step in managing our cashflow position during this unprecedented pause in trading activity. Protecting our staff and sub-contractors was of upmost importance, which is why we halted work on all of our construction sites until the end of April. We have also utilised the Government’s Job Retention Scheme to help us during this time.
We have three major projects worth £11 million lined up to start as soon as it is safe to do so, which will see our business and cashflow return to normal.
Mark Wallace Managing Director at Britannia Site Solutions
We are delighted to be able to support businesses such as Britannia Site Solutions that have inevitably been affected by the coronavirus crisis. Small businesses are the backbone of our economy, so it is essential that we do all we can at BCRS to provide SMEs with the funding they need to manage cash flow and safeguard jobs. We believe that no viable businesses in the West Midlands should go unsupported. Stephen Deakin Chief Executive at BCRS Business Loans
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