RS Corporate Finance team providing support during Covid-19 pandemic
Alongside their transactional work RS Corporate Finance team have been providing much needed Coronavirus business support to new and existing clients to enable them to navigate through the challenges they are facing as a result of the Covid19 pandemic.
Business Interruption Loan Scheme
Our Coronavirus business support has included providing assistance, to varying degrees, where clients have been seeking support through the Government’s Coronavirus Business Interruption Loan Scheme (“CBILS”). Last month we were introduced to Duncan Holman Services Limited (“DHSL”), a renowned name in the airport maintenance field, providing servicing to a host of UK Airports and manufacturing specialist equipment used globally.
Given the nature of their work DHSL was faced with a short-term funding requirement following lockdown measures being implemented. However, after a number of constructive conversations with their bank, they had been unable to produce financial projections in a format that was acceptable to support a loan application. Over the course of a week working with the team at DHSL, RS Corporate Finance produced a detailed financial model that was submitted alongside the CBILS application – which was, in turn, approved days later.
Commenting on the assistance provided to DHSL the Founder, Duncan Holman said;
“We are in the airline/airport industry and without the support and guidance of Chris Brazier and Andrew Bagley through the CBILS application, we would have severely struggled. Their reporting was exactly what the bank needed and we had our funding within 6-7 working days”.
Chris Brazier, Corporate Finance Director said;