Dyke Yaxley, a member of The Corporate Finance Network with two offices in Shropshire and one in the United States has successfully advised the shareholders of a construction company to raise £250,000 using the Coronavirus Business Interruption Loan Scheme (CBILS).
The construction firm had been adversely impacted as a result of the Coronavirus pandemic and subsequent lockdown which forced the sector to lay down their tools. As the sector restarted work, clients were demanding more jobs to be completed within a shorter time frame, straining operational capacity and cash flow requirements. Sarah Hartshorn, a member of the Dyke Yaxley Corporate Finance team advised that accessing a CBILS was one potential option to plug any short-term cash flow issues.
Sarah and the Dyke Yaxley Corporate Finance team prepared P&L and forecasts which were presented to Funding Circle via Capitalise to secure the finance.
The finance was secured in good time, enabling the company to plan ahead for the short to medium term. The business was well capitalised for the most recent lockdown which began in January 2021.