In these unprecedented and challenging times, The Chancellor recently announced a number of emergency measures to help UK businesses during the national threat of the Coronavirus.
We have received numerous enquires seeking advice on what to do over the coming months to minimise the financial impact of this crisis. In response, the Spectrum Debt Advisory team stand ready to offer businesses guidance on how best to manage short-term liquidity needs, approach the debt markets for additional funding, and navigate and access the various government schemes established, such as the Coronavirus Business Interruption Loan Scheme (“CBILS”), available to support debt facility requirements of up to £5m for SME’s with annual turnover of up to £45m, and the Coronavirus Large Business Interruption Loan Scheme ("CLBILS"), providing similar support to businesses with annual turnover over £45m.
Below you will find links to further sources of information:
The Spectrum team are currently working remotely but remain fully operational and prepared to support our clients during these challenging times. We are in constant contact with our banking partners and other providers of finance to understand the sources of financial support that are available.
For more information please contact a member of the Spectrum Debt Advisory team, alternatively email CBILS@spectrumcf.co.uk and we will be in contact to arrange a convenient time to discuss your particular circumstances.