Family-owned logistics business aided by MHA Financial Solutions secures five-figure BBLS loan
Fox’s Pallets Ltd is a Kettering-based business that has been in operation for over 50 years. The business specialises in supplying transport pallets to a large array of different industries including food, electronic and logistics.
The business was unsure what Government loan scheme would be the most suitable to help them maintain operations and cashflow levels during the pandemic.
Fox’s were referred to MHA Financial Solutions to help with reviewing the financials of the business and provide independent advice on which Government scheme would be the most suitable to meet their needs also to support the business in application for the selected route.
Commercial Broking Director, Ian Jackson helped review the pros and cons of each option with Financial Controller, Tracey Remington, who looks after the finances of Fox’s Pallets Ltd. Tracey was able to use this guidance to help match it to the desired cashflow requirements and present it to the directors of the business.
The Bounce Back Loan Scheme (BBLS) was the preferred option for the business and Tracey was able to call on Ian’s help with applying for the Scheme through the High Street Lender. This assistance with each step of the application process helped secure the five-figure loan amount for the business.
Tracey from Fox’s Pallets Ltd comments;
"We contacted MHA MacIntyre Hudson regarding helping us apply for a loan to get through the recent pandemic. Ian was extremely helpful as I had not had to predict forecasts for a few years, he pointed me in the right direction and offered advice. With his help we were able to secure a £50k bounce back loan very quickly.”
Ian said of the deal;
“I am delighted that we can help this long-running family business to secure the finance needed to protect it through the challenging times that lay ahead. Many SME’s are unsure what Government loan scheme will be the best fit in terms of loan amounts available and lending terms and it was great to give Tracey and the directors of Fox’s Pallets Ltd direction and peace of mind that they have selected the best scheme that matches to their businesses unique circumstances.”
Across the UK many SMEs are attempting to access the available Government loan schemes and with the situation changing daily it is more important than ever to identity which option would give the most suitable terms for long term business security. Utilising a financial broker such as MHA Financial Solutions gives you reassurance that you are getting an independent perspective of the full lending market to help you make the best decision for your business.
Find out more by visiting: www.macintyrehudson.co.uk/services/financial-solutions