This progressive, Bedford based construction company specialising in new build and property refurbishments found themselves in tricky waters during the pandemic - and of course, they weren't alone either. We helped thousands of businesses through extremely challenging times during lockdowns and beyond, but we'd like to share more about this one in particular.
Launched in 2018, this growing business had just started making waves in its industry and they had been planning, designing and building for domestic and commercial properties in London, Bedfordshire, Hertfordshire and Buckinghamshire. Their scope was impressive too, with projects spanning across public, education, leisure and retail sectors.
With over 20 years of industry experience and a shared team passion for continuously developing skills, their customers are in very safe hands - and they also have plenty of choice too! With a Build and Refurbishment Divison; Electrical, Plumbing and Heating Division and also a Specialist Joinery Shop, there is no project these guys can't ace!
But things took a turn for the worse when Covid hit. This business desperately needed a cash flow boost as it was heavily impacted due to the pandemic and consequent lockdowns. The business was 90% shut as operations could only continue on a very limited basis during Covid and unsurprisingly, their revenue took a huge hit, with a loss of over £1 million.
Recognising they needed help, they turned to Funding Circle for help finding the perfect lender and that's when we came into the picture. This business wanted a government-backed RLS loan and we agreed to provide £126,000 over 6 years.
This fantastic company has the funds in their back within a week of applying and have utilised loan to bolster cash flow and purchase much-needed equipment, including vehicles and computers.
The journey with Nucleus was very good. Everybody was very professional and helpful. They helped to get the business new projects in such difficult times as without the funds, we wouldn't have been able to take on any new projects.