Success Story
| Region/Nation | North West |
|---|---|
| Programme | Bounce Back Loan Scheme (BBLS) |
Unable to service its existing customers or win new business because of COVID-19 restrictions, this fire safety company’s future was under threat unless it could secure funding. Declined a loan from its bank, the company turned to the Bounce Back Loan Scheme (BBLS) for a vital lifeline.
Read what it had to say in this BBLS case study.
British Business Bank: Can you tell us what your company does?
Gary Jacques, managing director at GMJ Fire Prevention: Based in Bolton, GMJ Fire Prevention maintains, services and rents fire extinguishers for businesses in the North West and beyond. We also offer comprehensive fire safety training intended to give customers the knowledge and skills they need to evacuate a building safely if there’s a fire.
How did COVID-19 affect your business, and why did this mean you needed funding?
As we secure many of our customers through face-to-face meetings or phone calls to people working in offices, the coronavirus pandemic immediately halted our growth and threatened our future.
Our business bank turned us down for a loan, which is when we applied to the Bounce Back Loan Scheme via GC Business Finance. The funding from that scheme has enabled us to continue operating during national lockdowns, and we look forward to growing the business when restrictions lift.
How did you find the application process?
I was really impressed with the way our lender handled the loan. Every aspect was totally professional.
The Bounce Back Loan has helped us to navigate a difficult period and put the focus back on our business growth plan. Gary Jacques managing director at GMJ Fire Prevention
In what way did the funding help your business survive?
The Bounce Back Loan has helped us to navigate a difficult period and put the focus back on our business growth plan. Thanks to the scheme, we’re already looking forward to offering our services to businesses again when the coronavirus restrictions are finally relaxed.
More success stories
Read a success story about Shropshire Festivals
When Beth Heath used a Bounce Back Loan to protect her business in Shropshire, the loan not only boosted the cashflow of her award-winning festival company, but also gave her an opportunity to support her local community during lockdown.
Read a success story about Thomas Paine Hotel
Funding a fresh start: how Recovery Loan Scheme helped ex-offenders find jobs and support the hospitality industry.
Read a success story about Diversity Business Incubator (DBI)
DBI Supporting underrepresented minority ethnic groups during the pandemic