Growth Company to help in £100m fund for firms affected by Carillion collapse

Paul Breen

The Manchester-based Growth Company has been chosen to work as part of the £100m national support package being offered by the Government to businesses affected by the collapse of Carillion.

The Secretary of State for Business, Energy and Industrial Strategy Greg Clark has asked Business Finance Solutions – part of The Growth Company – to act.

Clark has announced the cash is being made available to help ease the situation and has asked the British Business Bank to work alongside Enterprise Finance Guarantee (EFG) providers to support Carillion supply chain companies who may be struggling to pay bills and keep staff.

As an EFG authorised lender, Business Finance Solutions will help those companies affected to unlock cash from the £100m fund as a temporary measure.

As an EFG authorised lender, Business Finance Solutions will help those companies affected to unlock cash from the £100m fund as a temporary measure.

Paul Breen, director of Business Finance Solutions, said: “Working closely with the British Business Bank we aim to help many of those companies facing an uncertain future following the collapse of Carillion.

“We are already geared up to assist with flexible scale financing and welcome this endorsement by the Government of our capability. It’s good to know that the Growth Company is seen as part of a national solution to the ripple of financial issues coming from the Carillion crash.”

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