Coronavirus business update: Latest news across the North West

Wirral funding proider Bathgate Business Finance has been selected as a Funding Circle Coronavirus Business Interruption Loan Scheme (CBILS) partner.

This enables the West Kirby firm to apply for the Government-backed business support loans on behalf of eligible businesses.

As an approved intermediary, the finance specialist can make applications for loans up to the value of £250,000, with a guaranteed APR of below nine per cent and no repayments due for the first 12 months.

The supporting documentation required is considerably less onerous than the information required by banks and the process is expected to be much faster, with decisions typically being made within 24 hours.

To be eligible for the loan, businesses must be UK-based with a turnover of less than £45m, with more than 50% of that coming from trading activity, rather than investments.

As well as having been adversely affected by the coronavirus, businesses need to have at least three years’ trading history and the loan should primarily be taken for business purposes and activity in the UK.

Bathgate Business Finance has been an approved introducer to Funding Circle since 2014, becoming a Funding Circle Business Champion in 2019, due to its high standard of introductions. It is one of just a few businesses across the UK to be approved as a Funding Circle CBILS partner.

Gordon Andrews, managing director at Bathgate Business Finance, said: “The COVID-19 outbreak has taken an enormous financial toll on businesses in the region, across all sectors, and we have seen the impact of the disruption and uncertainty.

“Banks are primarily dealing with applications for loans for existing customers and with the new Bounce Back Scheme, which is limited to a maximum of £50k per client, are unsurprisingly inundated with proposals. Funding Circle CBILS provides another option.

“To ensure that applications are presented correctly and can be dealt with efficiently, Funding Circle has ceased the availability of direct access to their portals from clients and non-approved intermediaries with immediate effect.

“As an approved intermediary for Funding Circle CBILS, we will be able to help SMEs navigate the loan application process quickly and efficiently, by completing the application on their behalf.

“Our experience of working with Funding Circle and its systems, combined with our understanding of their requirements and processes mean we can ensure the applications we make are given the best possible opportunity to succeed.”

Bathgate Business Finance expects demands to be high and is advising businesses wishing to apply for a loan to ensure they have the correct paperwork ready to ensure a smooth process.

Gordon added: “Funding Circle has fast-tracked a number of changes to the technology they use to ensure the process is as fast and smooth as possible. Demand will be high, but we have our whole team focused on processing as many eligible applications as we can.”

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Ellesmere Port-based L&R Roadlines is working with Wirral Council to help mark several hospital sites around the borough with a message to thank NHS workers for their ongoing efforts during the coronavirus pandemic.

The new road markings, installed free of charge, will help to provide a daily reminder to all staff at these sites of the huge amount of thanks and gratitude the whole borough is showing towards them, as they continue to look after and keep the community safe.

Road markings have been installed at Arrowe Park and Clatterbridge Hospitals.

Simon Fox, commissioning services manager at Wirral Council, said: “During this uncertain time, the council has continued to work with L&R Roadlines as they provide essential works to help protect the safety of our residents.

“I am really pleased that this local company has offered to help us to further deliver messages of thanks to the fantastic NHS staff working tirelessly to help protect the borough’s community.

“The current ongoing situation is one in which we all need to come together and support one another.

“I am proud to work with partners that continue to, not only provide key work to help keep essential services running but, help to thank others in the community, who are also keeping residents safe.”

The borough’s residents, like many communities around the nation, acknowledge the continued efforts of NHS staff in their community with the weekly Clap for Carers on Thursday.

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The Chartered Trading Standards Institute (CTSI) has received intelligence on a series of nuisance and scam calls hitting households throughout the UK.

In the latest scam, people receive calls informing them that wearing a mask while outdoors is obligatory, with the endgame being selling overpriced masks to the unaware.

There are two versions of the call – one involving a recorded message and the other a live person.

Both calls mislead by claiming that mask wearing is necessary. The live caller, quoting a price of £29 for two masks, two hand gels and gloves, requests an address and payment information.

CTSI lead officer, Katherine Hart, said: “The COVID-19 coronavirus pandemic lockdown has led to a surge in suspicious activities, including all kinds of scams, and the phenomenon of price gouging.

“These calls are yet another example of opportunists attempting to make money dishonestly during a time of heightened vulnerability.

“The public should be extra suspicious of cold calls in the present climate, especially those asking for payment details.

“I am concerned that many more people, particularly the elderly under lockdown at home, might be more susceptible to these opportunists. If receiving a call like this, they should put down the phone, and if they have the facility, block it.”