McBrides, a member of The Corporate Finance Network based in Kent and South East London, has advised the shareholders of a construction support business on a £300,000 CBILS loan.
McBrides Corporate Finance Partner, Mark Grady was approached by his client following the overnight shutdown in the construction sector which left the business needing prompt advice regarding short to medium term cash flow advice.
Mark begun the project by producing a detailed cashflow forecast for the business considering the halt in demand to identify the capital requirement for the business which in this case was in the region of £250,000 to £300,000. The final cashflow forecast would become a key part of the Coronavirus Business Interruption Loan Scheme (CBILS).
The outcome was a successful application and resulted in a £300,000 loan.