We were delighted to help Midlands based Acacia Associates Limited to successfully access £160k of emergency funding through the Coronavirus Business Interruption Loan Scheme (CBILS).
Established in 2014 by Mark Harvey, Acacia Associates is a building surveying company working for a diverse group of private and commercial clients including homebuyers, insurers and housing developers. Its projects cover residential, commercial, industrial, education, leisure and insurance sectors.
In April, COVID-19 brought the property market to a standstill which had an immediate impact on Acacia’s operations and cashflow. As construction sites closed due to social distancing, Acacia was unable to achieve a contractual milestone. Subsequently, a milestone payment was delayed preventing essential cashflow into the business.
Acacia’s owner sought our support to help him apply to the Coronavirus Business Interruption Scheme (CBILS) for emergency funding. The Royal Bank of Scotland approved a £160k loan allowing Acacia to continue with its contractual obligations, achieve key milestones and return its trading to a near normal level.