"Many are going to need substantial fast and flexible support that isn’t always available through the traditional banks and the government supported schemes they are aligned with."
The RCF works in a similar way to a traditional bank overdraft with the customer only paying interest on the amount drawn down - providing the flexibility that is needed without being tied into fixed monthly capital payments.
Chief commercial officer, Martine Catton, commented: “Many excellent businesses have been dramatically impacted by Covid - losing access to their customers overnight with various Government announcements.
“Good businesses don’t become bad businesses overnight and many are going to need substantial fast and flexible support that isn’t always available through the traditional banks and the government supported schemes they are aligned with.
“Successful entrepreneurs are by nature fast moving and adaptable. Post-Covid they will be looking for opportunities to transform their businesses or create new ones. They need finance facilities that fits with this mind set."
