Bespoke service for you
Whether a business has gone from thriving to surviving an imminent crisis, or is just looking to ‘fix the roof while the sun is shining’, we can help you to:
- Reduce balance sheet stress,
- Generate cash and reduce costs,
- Increase profitability,
- Refinance and find the best source of capital to support business objectives; and
- Reduce long-term liability costs.
Whatever the solution, we pre-empt and manage road blocks until the job is done.
Our services are tailored to the needs of the individual business, and include:
- Restructuring any debts the business has,
- Negotiating with your creditors to secure better payment terms,
- Stabilising your cash flow,
- Making sure you have contingency plans in place,
- Planning your marketing strategy; and
- Planning the best way to exit your business.
The crucial factor is to get in touch as early as possible so we can work with you and start getting rid of the stress.
Bounce Back Loan Overview
The government introduced the Bounce Back Loan in March 2020 so businesses could have instant access to emergency funds during the first waves of the Covid pandemic.
Within the first four months, more than one million companies used the scheme and the number had doubled by the time the scheme was no longer available.
The amount of these loans to be repaid currently stands at around over £47.36 billion.
The Bounce Back Loan, which was a life-saver to a lot of businesses during the pandemic, is now seen as a source of financial frustration due to the perceived burden repayments add to monthly cash flow.
As such, there are now thousands of businesses which are struggling to repay their Bounce Back Loans.
As a matter of fact, there are growing concerns that up to 50% of benefactors of this scheme will not be able to repay their loans. Therefore, it is crucial you contact an expert for assistance if you believe repayment of the Bounce Back Loan will be a problem for you.
Worried about your Bounce Back Loan?
If you are a limited company director worried about how you are going to repay your Bounce Back Loan, we are here to help.
Call us today for free, confidential advice on 0800 975 0380.
The government is under pressure
The government is under serious pressure from taxpayers to recover funds (as much as possible) due to the scale of possible losses associated with the scheme.
In view of this, banks are instructed to be strict in their dealings with people attempting a company strike off without repaying the money they owe.
Also, the law now permits further investigation into companies with outstanding Bounce Back Loan that were struck off successfully, this also includes directors of those companies.
Further reading on Bounce Back Loans
We have advice articles relating to Bounce Back Loans. Some of them are below:
Coronavirus Business Help – How we can help you
I can’t repay my Bounce Back Loan, what are the options?
What happens if I don’t repay my Bounce Back Loan?
Can a company with a Bounce Back Loan be dissolved?
What will happen to your Bounce Back Loan if your company is liquidated?
6 steps to rebuild your business after COVID-19
What are the options for businesses impacted by the coronavirus pandemic?
How to get started…
Call us for free advice
It is crucial you seek assistance and advice from an expert if you are struggling to repay the Bounce Back Loan.
There are only a few options available to help a company with unpaid Bounce Back Loans which is why you need to take swift action.
For free support, advice, and guidance from our bounce back loan advisers, contact us now on 0800 975 0380.
