BCRS Business Loans
Region: West Midlands
Programme: Coronavirus Business Interruption Loan Scheme
Worcestershire Partitioning Company Secures Pandemic Funding Support
A Worcestershire-based company specialising in office wall partitions has secured funding to survive the Coronavirus pandemic and safeguard jobs.
Architectural Wallsz, based in Alvechurch, was forced to cancel all work scheduled for April and May after non-essential construction sites closed due to Covid-19.
The company approached BCRS Business Loans, who are a delivery partner for the government-backed Coronavirus Business Interruption Loan Scheme (CBILS), to secure £93,000 to support the company during this unprecedented interruption to trading.
The Coronavirus Business Interruption Loan Scheme, delivered through 40+ British Business Bank accredited lenders, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak.
The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities.
Ian Strangward, Managing Director at Architectural Wallsz, said:
“Accessing a CBILS loan was essential in supporting the survival of our company during this incredibly difficult time.
“Prior to this, we had experienced a bumper quarter and had built a strong order book, but the Covid-19 outbreak meant we needed a funding boost to secure our cash flow position until we can start trading again.
“Architectural Wallsz specialise in the interior fit out of commercial offices, education and healthcare sectors, offering supply and installation services across the UK.”
While current contracts have been suspended, the company’s directors have used their expertise to develop pod solutions that can support hospitals and healthcare centres during the Coronavirus pandemic.
Ian added: “Architectural Wallsz has developed isolation pods that provide a solution comprised of scalable and reconfigurable modules that meet NHS standards for infection control. We have the capability to supply and install 500 healthcare rooms in 30 days. These modules have been designed as a rapid response solution to Covid-19. We are currently exploring ways of helping a number of NHS Trusts.”
Stephen Deakin, Chief Executive at BCRS Business Loans, said:
“We are delighted to have supported Architectural Wallsz during this incredibly difficult time. Ensuring small businesses survive and safeguard jobs during this crisis is crucial to limiting the damage to our economy. Not only this, but we are delighted to see that company is using its expertise to help healthcare providers fight this virus.
“We are committed to doing all we possibly can to support businesses that have been affected by the Coronavirus crisis. We believe that no viable business should go unsupported and have tailored our loan process to comply with social distancing guidelines.”
BCRS Business Loans is an accredited lender for the Coronavirus Business Interruption Loan Scheme (CBILS), which is delivered by the British Business Bank. Loans from £10,000 to £100,000 are available.