How finance has supported British SMEs
Without doubt 2020 was the hardest year many of us experienced, personally and professionally our lives were put on hold and our businesses were closed down. Undoubtedly this put a hold to growth and development to many businesses. At Johnson Reed we have been working since last April, when the Coronavirus Business Interruption Loan Scheme (CBILS) was introduced by the government, to support SME businesses through challenging times, helping them to add financial stability and re-invest in their business, from chippies and restaurants to gyms, leisure centres and soft play centres and everything in between.
2020 was a year of frustration and hard graft, and whilst it was tough, we continued to support businesses across the UK.
We raised £14.4 million supporting 100s of SME businesses in 2020, helping them to finance, loan, lease and support their businesses, providing our common-sense approach, hands-on support and detailed approach, with unrivalled experience across industries. We want to double that number in 2021, and give more businesses the opportunity to get off the ground, grow and expand, as we are confident that trade will come back for British businesses.
In addition to £6 million raised for CBILS loans, we worked with a large number of businesses wanting to finance and re-finance equipment using CBILS, to give the company an injection of cash, or purchase new or upgraded kit to improve their service and offering. Whether it’s frying ranges for chip shops, cookers and ovens for restaurants or squat racks for gyms, we worked and continue to work with a number of businesses to help them secure finance for their kit.
From March to December 2020 we raised over £6 million in CBILS loans for UK SME businesses, helping them to re-invest, pay bills and prepare for various lockdowns and challenges. This funding is 100% government-backed, with rates capped at 14.99%. This finance offered a crucial lifeline to businesses, as well as allowing them to strengthen their companies. You can find out more at our dedicated CBILS page or check our case studies to see what our customers think about it.
We have been committed to giving our clients and suppliers the very best service, which includes offering fair and competitive rates, under the government agreed maximum of 14.99%, despite some lenders and brokers flaunting this agreement. We believe that our customers deserve the best, and that includes rates, which will continue for as long as we support SME businesses.
When we surveyed SME businesses, over three quarters described the relationship with their broker as ‘valuable’, ‘very valuable’ or ‘essential’, demonstrating the effect a personal, common-sense approach and an experienced broker has on being able to secure you the best deal, in the interests of your business. We work hard with our businesses to ensure they succeed, give them the investment needed to prepare and improve, providing a good product or service to their customers, to ensure they can trade well without any issues.
At Johnson Reed we have a dedicated sales team who have a wealth of experience across industries and sectors, working with a wide range of businesses. From leisure and hospitality to construction, manufacturing and logistics, and everything in between, our team have and can source finance whatever the industry or company. Whether you’re a B2B business, B2C, small or large, online or high street, chances are our team has experience in your sector. This gives you peace of mind knowing our team knows how to get your business approved, knowing what lenders look for and what they prefer, our common-sense approach and experience is unrivalled, and we have exemplified that again in 2020.
We’ve also been working non-stop with our suppliers, to help them sell more, more often. Aside from supporting suppliers with sales support, securing finance for their customers, we have gone further and offered marketing support by helping to develop and edit web pages, marketing material and email campaigns to help promote the benefits of finance to their clients, by adding features such as a monthly payments calculator to give clients an indication of monthly costs, therefore enhancing the customer experience and helping the sales process.
Don’t just take our word for it. Read our case studies and testimonials, celebrating the businesses we have supported over the last year, whether that’s supporting a supplier with sales, or financing a fitness studio with much needed equipment, we do it all, and each client means just as much to us as the last. A good year for us is when our clients have a good year, and until every single supplier and business we support is successful, we won’t stop.
“2020 was a challenging year for all of us, it left us wondering where to turn and what to do, which is frightening when you’re a business owner and you’ve got bills to pay. Our team have been working round the clock since last March to get businesses back trading, and if not trading, investing for the future. I firmly believe that trade will come back bigger and stronger than ever, and the prospect of that is exciting. We’re seeing so many business owners investing in the future now as they look to grow and progress despite the events of the last year. We’re going to keep supporting businesses with a message of hope, that trade will come back, and it will be worth it.” Mark Johnson, Johnson Reed
Our priorities for the new year haven’t changed, we are committed to providing our ongoing support for small businesses, we want to see trade thrive again, allowing our suppliers and clients to continue doing what they do best, whatever the business. We look forward to helping companies, whether start-ups, expanding or well-established, our dedicated team can secure investment and finance for your next project. Whether you’re a gym looking to hit the ground running. a takeaway looking to deliver great service or a construction firm looking to build new relationships, we can support all types of businesses, whatever your goal. From business finance, loans, equipment finance, leasing, asset finance, we can do it all, with unbeatable rates and a common-sense approach, as we know how important your business is to you.
If you’re a business owner looking to expand, grow or support with finances get in touch with our team to see what solutions may suit you best. Call us at 0161 429 6949, email at email@example.com or submit an enquiry here.