Jobs safeguarded as partitioning company secures funding
A Worcestershire-based company specialising in office wall partitions has secured funding to survive the Coronavirus pandemic and safeguard seven jobs.
Architectural Wallsz, based in Alvechurch, was forced to cancel all work scheduled for April and May after non-essential construction sites closed due to Covid-19.
The company approached BCRS Business Loans, who are a delivery partner for the government-backed Coronavirus Business Interruption Loan Scheme (CBILS), to secure a funding boost to support the company.
Ian Strangward, managing director at Architectural Wallsz, said: “Accessing a CBILS loan was essential in supporting the survival of our company during this incredibly difficult time.
“Prior to this, we had experienced a bumper quarter and had built a strong order book, but the Covid-19 outbreak meant we needed a funding boost to secure our cash flow position until we can start trading again.
“Architectural Wallsz specialise in the interior fit out of commercial offices, education and healthcare sectors, offering supply and installation services across the UK.”
While current contracts have been suspended, the company’s directors have used their expertise to develop pod solutions that can support hospitals and healthcare centres during the Coronavirus pandemic.
Strangward added: “Architectural Wallsz has developed isolation pods that provide a solution comprised of scalable and reconfigurable modules that meet NHS standards for infection control. We have the capability to supply and install 500 healthcare rooms in 30 days. These modules have been designed as a rapid response solution to Covid-19. We are currently exploring ways of helping a number of NHS Trusts.”
Stephen Deakin, chief executive at BCRS Business Loans, said: “We are delighted to have supported Architectural Wallsz during this incredibly difficult time. Ensuring small businesses survive and safeguard jobs during this crisis is crucial to limiting the damage to our economy. Not only this, but we are delighted to see that company is using its expertise to help healthcare providers fight this virus.”
Triodos Bank UK has provided BCRS Business Loans with support funding that has enabled this loan.
Paul Nicoll, social and cultural team manager for business banking at Triodos Bank UK, said: “It’s good to see BCRS able to provide a channel to this financial support for SMEs right now. Our experience of providing funds for on lending by Community Development Finance Institutions like BCRS is paying off – this type of support is now more crucial than ever.
“The sector will be key to a post-corona recovery and we must help it to survive through these difficult times. With this particular Community Investment Enterprise Facility (CIEF) our aim has always been to make finance more accessible and inclusive, and we look forward to hearing more about the impact that SMEs like Architectural Wallsz can then have. Making money work for positive social, environmental and cultural change is central to our ethos.”
