Dear all

Are you finding it difficult to get the funds your business needs?
Are you struggling to access the loans that might be available to you?
 
Results from the recent British Chamber of Commerce Coronavirus Business Impact Tracker reveal that most businesses have not yet successfully accessed the Government’s Coronavirus Business Interruption Loan Scheme (CBILS) and the grants for small businesses. It states that 83% of those that have been unsuccessful in their application, say it was because they did not meet the criteria. And data from UK Finance says that only 0.65% of applications have resulted in a CBILS business loan.
 
If your business needs funds, it may be that asset refinance could be a quicker and easier option for your business.
 
If your business has assets such as vehicles, plant or machinery, we can potentially use these to raise capital for your business and they may qualify against a CBILS loan which means the first 12 months is interest free.
 
If you think this could help your business, please call us on 01872 272 900 or email [email protected]. 
 

Kind regards

Paul Caunter
Managing Director
01872 272900

A lot has changed since I wrote to you around a week ago. These are unprecedented times, creating challenges for us all.  So, it feels important that I should keep you updated on what we are doing to support our customers and our staff.

We have been inundated with requests for payment support which is having a huge impact on call waiting and response to email times – please bear with us. We are re-allocating staff from across the business to make this a priority.

We would request that existing Direct Debit Instructions are not cancelled for ease of management.

If you are unable to make the full payment, please email your request to our specialist team at [email protected] even if your payment is due imminently, our team will be able to offer a solution going forward.

Being a small business ourselves, we understand the impact that Covid-19 has had on your business and we are here to help; we have already worked with many of our most vulnerable customers and offered solutions. If you want to know what options are available, then drop us a line and we’ll get back to you as soon as we can.

Unfortunately, like many, we are also having to furlough staff to preserve jobs for the long term, but we are fully operational to make sure that our service levels do not drop.

If your business is in the fortunate position to need asset finance, or any type of loan to see this crisis through, then don’t hesitate to call your sales contact who will be more than happy to talk through your options.

I thank you for your understanding and patience during these challenging times.

Paul Caunter
Managing Director

We, like you, are a small to medium size business and as such understand the increasing problems and pressures that Covid 19 is putting on your business. We also appreciate that not every business is the same and that we will all face different issues over the coming weeks. Some of these issues are, understandably, going to be financial.

As you will no doubt be aware, we are both a broker and a lender and as such there will be different options and assistance available dependent on the lender and your own circumstances.  What we would ask is that you contact us sooner rather than later if you are facing financial issues that will impact your ability to pay us.

If we have arranged funding for you through a lender could we please ask that you speak to them first; If you require contact details, please let us know. We have set up a specialist team who can help you and discuss the options that are available.

We intend to be as sympathetic as possible during this crisis, but would also remind you we are not a big bank or affiliated to a large finance company, so we do not have the ability to give all of our customers a 3 month repayment holiday; what we will do is listen and work with you to get our businesses through this extremely difficult situation together.

If you have concerns about your impending payment, or any future payments, please contact us at the following email [email protected] and briefly let us know the information requested below. This will allow us to assess your position, prioritise our response and identify a solution.

What level of impact has COVID-19 had on your business?

What level of support are you hoping to achieve?
–    Minimum payment reduction
–    Longer Term solution

We may require additional supporting information to assist us with your request at a later stage.

I would personally like to thank you for your understanding in this matter and hope you stay safe in the coming weeks.

Paul Caunter
Managing Director, Ignition Credit.

For the latest Government guidance on all things related to COVID19 and to sign up for alerts as information is updated, please click here.

Following the latest guidance regarding COVID-19 we now need to work differently. This means that the majority of the team at Ignition will be home working and we will be operating the office on much reduced staff. Your normal contacts will be available on their usual email address and telephone number, however while we get used to this way of working you may experience some delays that we hope to minimise.

I was heartened by yesterday’s announcement from the Chancellor of emergency financial packages including loans and cash grants for small businesses. We look forward to seeing further details in the coming days.

If you feel there is anything we can do to support your business during these unprecedented times, please let us know.

Paul Caunter
Managing Director
01872 272900