Over three quarters of SMEs in the UK admit to feeling stressed about cash flow due to the impact of COVID-19, according to research by the Close Brothers Business Barometer.
As a result of the issue, many smaller companies are likely to require additional finance to overcome short-term cash flow challenges or longer-term investments.
Access to additional funding can ease the pressure on SMEs’ working capital, enabling them to pursue new opportunities and grow. With the impact of the pandemic still prominent, it is important for these businesses to continue to receive the financial support they need to survive and even thrive.
We are now offering the government’s Recovery Loan Scheme (RLS) which aims to help companies affected by COVID-19. The scheme can provide up to £10m in funding to help manage cash flow, facilitate growth, or invest in new resources and opportunities.
Additionally, our Liquidity Plus product is designed to be used alongside your invoice finance facility to provide an instant cash injection. It can enable firms to access up to 100% of the value of unpaid customer invoices upfront, to support immediate requirements or be used over a longer period to boost confidence.
Using a cash flow loan in conjunction with invoice finance allows SMEs to be adaptable and reactive to market conditions. This is especially useful during current circumstances as lockdown is lifted and restrictions are being eased. Our funding experts will work with you to help you secure a funding package that works for you.
Our experts can make decisions about your facility quickly, with bespoke terms being arranged on an individual basis to best suit your funding requirements.
To find out more information about how additional funding could help your business, fill out an enquiry form on our website or call us on 0808 159 3590.