The MGroup Corporate Finance - Support for clients (and potential clients) dealing with the impact of Coronavirus

Your concern

We understand the impact and uncertainty caused by the massive change in the economy and how this may impact your you, your clients, staff and supply chain.

Whilst we continue to work with clients to raise funds and complete transactions, we wanted to make sure you were aware that we are still open to support you, should you need help.

What you are doing

With a number of sectors already seeing pressure, with over-demand and lack of demand for different products and services, a large number of clients are putting new business protocols in place to deal with the current, developing situation.

Whilst doing that, it can be difficult to focus on so many things at the same time. You are focussed on the business operation, staff and your customers.

You will have seen or heard on the television, radio or internet about the Government’s “Coronavirus Business Interruption Loan Scheme” – this is a rebranding of the Enterprise Finance Guarantee scheme and the terms of lending are currently being outlined. 

The existing EFG scheme required businesses to meet affordability criteria and to have charged all assets (of the business and the owners) before it could be used. We are awaiting confirmation of availability but that remains unclear at this time.

How we can help

Just as important as keeping invoices being issued is ensuring there is sufficient cashflow to trade through the current uncertainty. This is where we could help. Our Corporate Finance team have worked in the Banks, so understand what information your Bank needs for you to arrange a facility or borrow money from them. One of our services is to work with clients to obtain overdrafts or other facilities from their existing bank.

We are used to dealing with the retail banks, secondary lenders, fintech and secured lenders to ensure our clients have the best opportunity to access the funding they require.

Through our existing relationships with a wide range of funders, we are able to help you access the funding you need for your business, whether this is through your existing banking relationship or an alternative lender that we can introduce.

Other information

The Government has unveiled some measures to assist UK business, which can be accessed below: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

Please feel free to contact us to discuss how we may be of assistance.

Mark Crossfield                                                           Ian Walker

m.crossfield@themgroup.co.uk                                    i.walker@themgroup.co.uk

07780 957631                                                              07787 428030