Let’s Do Business Finance, the finance arm of the Let’s Do Business Group, are accredited lenders of the Government’s Coronavirus Business Interruption Loan Scheme (CBILS).
With an extra £1.5m in the funding pot, up to 30 SMEs across Essex will benefit from the scheme tailored to support the cash flow of many small businesses through the pandemic and beyond.
The loans are up to £150k to help struggling firms. The scheme, set to end 30 September, includes a 12-month interest-free period, no set-up or early repayment costs and fully funded business support to help companies get back on track.
Let’s Do Business Finance is a leading provider of business advice and loans to SMEs in the South East and East of England. Last year alone, Let’s Do Business Finance provided more than £5m worth of funds to 472 businesses.
As well as delivering CBILS loans and various other financial support, Let’s Do Business Finance has launched a business support service fully funded by Essex County Council specifically to support Essex businesses as we return to the ‘new normal.’
The Back to Business Essex team is working with businesses to build a proactive plan from evaluating finance and risk, customer interaction, and market research to managing the supply chain, staff and workplace operations. For more information, visit https://backtobusinessessex.co.uk.
The organisation also fully manages the Ongar Business Centre, providing office space solutions to many businesses as part of the recovery plan from COVID-19.
Sean Dennis, Managing Director of Let’s Do Business Finance, said: “We have been working very hard to support businesses during these difficult times.
“We had a Tsunami of enquiries in the first month, more than we would normally expect to receive in a year.
“This has enabled us to help more businesses than ever before; having lent twice as much as last year, in the last quarter alone.
“The coronavirus situation has had a huge impact on many businesses’ cash flow, especially those in the hospitality industry.
“It has created massive uncertainty over the future, had an impact on staff morale, and many companies have had to pivot to keep going.
“As a business ourselves, we had to adapt quickly to meet the challenging introduction timescales of CBILS, but the team has done a fantastic job.
“We have had a strong and valued relationship with Unity Trust Bank since 2012 that has helped us develop and grow.
“This latest funding package will make a real difference to businesses at this difficult time.”
With 35 staff and five offices across Sussex, Kent and Essex, Let’s Do Business Finance also covers Surrey, Suffolk, Norfolk, Hampshire, Berkshire, Cambridgeshire and Hertfordshire.
Businesses are urged to take advantage of the CBILS loan scheme before it is set to finish on the 30 September 2020.
For more information and to apply, please visit: https://www.letsdobusinessfinance.co.uk/cbils-ldbf
Notes to Editors
About Let’s Do Business Finance
Let’s Do Business Finance is the trading name of Capitalise Business Support Limited — regulated by the Financial Conduct Authority, Ref No 725528 and a registered company in England and Wales, No 07422542.
Let’s Do Business Finance has offices in Essex, East Sussex and Kent. As a responsible finance provider, we deliver coronavirus financial support, as well as Business Loans ranging from £3k-£100k to support scale-ups and Start Up Loans from as little as £500 to £25k for aspiring entrepreneurs and start-up enterprises. We have a range of financial services readily available to support business growth, employment and kick-start the local economy.
Visit www.letsdobusinessfinance.co.uk for more information.