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 and working capital issues.
Sarah and the Dyke Yaxley Corporate Finance team prepared forecasts which were presented to their current bankers and other alternative lenders to see what options were available to them.
The finance was secured in good time via Natwest, enabling the company to plan ahead for the short to medium term.
