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 retailer to raise £250,000 using the Coronavirus Business Interruption Loan Scheme (CBILS).
The retail firm had at first gone to their bank and applied for additional funding however this was declined. Sarah Hartshorn, a member of the Dyke Yaxley Corporate Finance team advised that accessing capital via CBILS was one potential option to plug any short-term cash flow and working capital issues. Using Capitalise, the Dyke Yaxley Corporate Finance team achieved a competitive offer and drawdown for their client.
Sarah and the Dyke Yaxley Corporate Finance team prepared forecasts which were presented as part of the application which was crucial in accessing the funding via Capitalise.
The funding was used to assist with working capital to manage stock shortages. They were able to purchase stock in advance when faced with limited stock availability from suppliers and unpredictable times with ongoing lockdowns (at the time).
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