We were delighted to help Swindon based Fundamentals Limited to successfully access £2m of emergency funding through the Coronavirus Business Interruption Loan Scheme (CBILS).
Fundamentals is the UK’s market leading manufacturer of voltage control solutions that are used across the UK in electricity sub-stations. It is a full-service international company, providing products, services and consultancy for utility and private network/systems operators. Its global client base includes power generation, transmission, distribution, industrial and private networks
Fundamentals is an existing Shaw & Co client. As a result of COVID-19, the company experienced significant interruption to its sales and a slowing down of payments by some of its customers. In addition, and notwithstanding the increasing impact of COVID-19 on the global economy, Fundamentals needed to continue to invest in its employees and its development to avoid a further negative impact next year.
Fundamentals’ owners sought our support to help apply to the Coronavirus Business Interruption Scheme (CBILS) for emergency funding. With our support and guidance, Lloyds Bank approved a £2m loan allowing Fundamentals to maintain its strong UK presence with its core product and service offering.