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Coronavirus: Unlocking finance for your business 

Duncan & Toplis | 30 March 2020

Updated 26/05/2020: The spread of COVID-19 and the introduction of ‘lockdown’ measures by the UK Government have had an immediate impact on businesses, either through closure or a substantial loss of income.

Recognising the impact the pandemic is having on our clients and businesses across the UK, we’ve set up a Finance Support Team to help you better understand what is available for your business, if you’re eligible and how to access this. 

To date, the Government has introduced a series of support measures to help businesses of all sizes through this crisis. So far, the Coronavirus Business Interruption Scheme (CBILS), cash grants and the Coronavirus Job Retention Scheme (CJRS) have been announced to protect jobs and ensure businesses can continue during this time. Support has also been announced for self-employed workers which will be similar to the CJRS scheme. 

While these measures have been discussed at length by politicians and in the news, it might feel like there’s still some uncertainty about how you can unlock finance from your business should you need it now or in the near future. 

Support during difficult times 

Led by experienced corporate and commercial banker, Dave Fisher, our new Finance Support Team consists of financial experts who will work alongside the wider Duncan & Toplis relationship team to ensure your business is ‘funding ready’. 

Through our strategic partnerships, our team has access to over 140 lenders - including many of those accredited in the CBIL scheme. This enables us to not only offer you up to date advice but put you in touch with the lenders that can help put your business in the best position. 

How can we help? 

Your dedicated Duncan & Toplis team will review your case and ensure that you have implemented all the necessary actions to preserve your cash flow in the first instance. This will help identify your borrowing needs in the weeks and months ahead. 

Most borrowing applications will need to be supported by cash flow projections, latest annual accounts and up to date management accounts. If you’re not sure where to start, we can also support you in preparing these essential documents to ensure you can access a loan that’s right for you. 

Additionally, we can: 

  • Prepare your application
  • Submit your application through our funding platform
  • Process any queries
  • Review the offers received.

What happens next? 

It may take around 14 days to process a loan application and make the funds available during this time.  

Most banks will make forbearance measures available to help cash flow (e.g. capital repayment holidays on loans), but not all businesses or proposals will qualify for support under the CBIL scheme. That’s why it’s important to talk to experts to establish what you can access to ensure your business can weather the storm. 

We can still support requirements outside the CBIL scheme through the funding platform, so if you’d like more advice and guidance on the latest coronavirus measurements, contact our experts today.  

 


For the latest updates, visit our COVID-19 Knowledgebase

Duncan & Toplis has its own Finance Support Team to help businesses understand what is available, if clients are eligible and how to get access.
Visit our access to finance page

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