Supporting SMEs through the Covid-19 pandemic
Posted by annaogrady on 26th March 2020
We know that things are far from simple for many businesses right now and we are taking clear actions to support our existing borrowers and provide finance options to new borrowers.Supporting our borrowers
We have taken a number of proactive steps to support our customers who have been significantly impacted from the closure of stores, the loss of customer footfall or disrupted supply chains.
- We have automatically applied a 2 month payment break to all borrowers in the hospitality trade. Customers have not needed to do anything to avail of this and we hope it will give them the time and space to evaluate the impact to their business.
- For other industries, we have allocated additional resources to work with borrowers to understand the impact on their businesses and restructure their loans accordingly, including payment breaks of up to 3 months where appropriate.
We have a dedicated email address for any customer queries about their lending arrangements with us: firstname.lastname@example.org. This mailbox is fully staffed and all enquiries will be dealt with quickly and respectfully.
Access to working capital
We know that many businesses still need access to no-hassle working capital at this time. This may be to cover overheads when takings are down, or to quickly invest in new services or technology to adapt to the new trading environment.
In recent days we’ve supported a number of businesses who have needed fast access to working capital to ramp up production of essential protective equipment, or to fund large PPE orders for the protection of their own staff.
Linked Finance can offer businesses a range of lending options over the short and medium term. We have also introduced a new type of loan called the Deferred Start Loan, which offers fast access to essential working capital, with the reassurance of 3 months payment-free.
With a dedicated Account Manager to support every application, the process of applying is simple and straightforward.
How could we help your businesses? Request a Call Back now with our team.