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Time is running out for CBILS HP applications

The window to attract crucial funding from the Government-supported Coronavirus Business Interruption Loan Scheme (CBILS) is closing rapidly, warns asset finance specialists PVS Finance.
Businesses in the automotive sector have until the end of September to get grants agreed, worth up to 25 per cent of turnover. However, mistakes in the application process can hamper the progress of applications, with often incomplete or incorrect details resulting in a rejection.

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EDT Automotive ’emerges from April troubles’ for opportunities ahead

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EDT Automotive

Award-winning engine decontamination specialist EDT Automotive has battled through its toughest-ever month as the effects of the coronavirus hit home hard. Trouble flared when their invoice factoring provider blocked access to funds without notice. “We were trading at only around 30 per cent of our agreed facility,” said EDT founder and managing director David Holmes. “Yet we suddenly couldn’t access our own funds.

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