Swift CBILS success with expert advice

Key questions about a CBILS application brought John Price from Chris Mullins Tyres in Gloucester to HCR’s finance team in Cheltenham late one Friday evening – by Monday morning, the loan funds were in the firm’s account.

The company, having had to close its business in response to the national lockdown on 24 March and furlough its employees, needed further funding to address cash flow issues caused by the lockdown.

Mr Price, director and co-founder of the business, got in touch with HCR on 1 May needing urgent advice on the loan paperwork received from the company’s bankers – the firm had first submitted its application for the CBILS loan on 28 March.

Tim Littler and Harry Bengough, who have considerable experience with the full range of Government loan schemes, were able to answer Mr Price’s queries that evening; he could then submit the final paperwork over the weekend, so that the loan funds came through on the Monday morning.

John Price said: “Thank you so much. That’s an enormous help and will give me and my fellow director a great deal of comfort. Many thanks for your prompt response.”

Tim said: “We were glad to be able to help John with the detail of his application and to set his mind at rest – these are major decisions for companies to make and directors are understandably cautious about committing themselves to borrowing large sums without getting clear advice on the right steps to take.”

Find out how we can help you with your CBILS application.