We were delighted to help Swindon based Fundamentals Limited to successfully access £2m of 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 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 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.