Waste management firm secures funding to help it through current crisis
A multiple award-winning waste management and recycling business in Prescot, Merseyside, has secured more than £250,000 from Barclays via the CBILS Government backed emergency loan scheme.
Environmental Waste Controls was established in 2003 and provide a sophisticated and cost-effective waste management and recycling system for both private and public clients, including the operation of household waste recycling centres and facilities management services on behalf of local authorities.
As a result of COVID-19, many of EWC’s clients were forced to close down – restaurants, retail outlets, entertainment and sporting venues – significantly impacting the company’s immediate cash flow.
Joint owner and finance director, Chris Denham, said: “Coronavirus struck just as we were moving into our busy season and has had a huge impact on our immediate cash flow.”
He said the support means the firm will be better placed when the time comes to re-boot the business after the crisis.
Barclays relationship director, Sean Askham, said: “I’m delighted Barclays have been able to support EWC with the Government-backed CBILS loan, which was agreed and drawn down very quickly.
“The loan is critical to support the business, which is experiencing enormous strain on their cash flow.
“I know the management team really well, so when the business started to feel the impact of COVID-19 we were in a position to act swiftly. The new facility will secure jobs within the local community and provide vital liquidity to the business.”