GC Business Finance
Region: North West
Programme: Coronavirus Business Interruption Loan Scheme
Specialist social impact lender, GC Business Finance, has provided one of the first Northern Powerhouse Investment Fund (NPIF) and Coronavirus Business Interruption Loan Scheme (CBILS) loans in the North West to Consensus Workspace, with approval taking only 24 hours from full application.
GC Business Finance (GCBF), which is currently one of only 40+ accredited lenders of emergency government funding across the UK, supported Consensus Workspace with a £100,000 CBILS-backed loan from NPIF – BFS & MSIF Microfinance, which is part of the Northern Powerhouse Investment Fund.
Founded in September 2019, Altrincham-based Consensus Workspace designs and fits out commercial interiors across the country. The business saw strong growth and profitability prior to the Coronavirus outbreak but like many, suffered immediate cash disruption.
Having been unable to secure lending from a bank, Consensus Workspace enquired through GCBF, which was able to support the business with quick approval from its specialist team and release of the funds followed shortly after. The funding has enabled Concensus Workplace to withstand Covid-19 interruption, continue its growth plans and protect jobs.
Andrew Plastow, Director at Consensus Workspace, said: “We approached GC Business Finance having struggled to confirm short term funding with our own business bank. I was amazed at the speed of the response, communication and decision making, which came within 24 hours of us returning all the information required. The loan is critical to protecting our future growth and ensuring we will be able to immediately mobilise as soon as restrictions are lifted.”
Andy Nichols, Senior Loan Manager at GC Business Finance said: “Consensus Workspace is a well-run and profitable business with real potential. We are proud to provide this funding for the business under NPIF and the Government’s Coronavirus Business Interruption Scheme, which will put it in good stead for when we return to business as usual.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.