Now more than ever, it is vital to ensure your business has the cash flow to keep going during the COVID-19 outbreak.

In these unprecedented times, we understand the pressure the UK lockdown has caused many of our clients and subcontractors who engage with us. The Government have announced a series of business support measures to help the UK economy through these times. 

Our commitment to supporting our clients has led us to partner with a select panel of financial service providers, who can assist you in accessing the UK Governments business support solutions as quickly and efficiently possible, in addition to other financial support solutions that may also be of benefit.

Coming Soon – We will soon be able to offer Indigo clients payment terms with us for up to 4 weeks.

Business Interruption Loan Applications

  • We will introduce you to a valued partner who specialises in these applications
  • No obligations initial phone call and assessment of circumstances
  • Full service from application to completion of loan by banking experts

Specialist Digital Tax Return Support and Bridging Loans

  • Completion of self-assessments carried out by tax return specialists
  • Digital service – no need to meet up or leave your home in these uncertain times
  • Speedy payment via our upfront loan facility with very competitive rates

Vehicle Buy-Back Schemes or Van Downgrade Options

  • Release equity from plant and vehicles into business for cashflow.
  • Continue to have use of the plant and machinery.
  • Option to purchase back at the end of the agreement

Furloughed worker support

  • Calculate Furlough for contingent labour
  • Calculate Furlough for temporary labour
  • Digital remote outsourced payroll

Access Our Partners

Business Interruption Loan Applications

We have partnered with corporate finance advisory firms, providing services to private and public companies throughout the UK as well as internationally.

They can help you navigate the challenges associated with applying for the Business Interruption Loan scheme and ensure that the process is straightforward and stress-free for you.

• Do you need support with preparing your application?
• Do you have other business-critical tasks that need your attention?

Through our partner, we can help you update your financial forecasts, and identify key assumptions as well as stress test the forecasts to ensure they are robust and realistic.

They will help you understand what drives the costs in your business currently and how you could scale that back to protect cash flow.

Crucially they can help you produce your COVID-19 contingency plan that lenders will look to when issuing loans to ensure your business has prepared itself appropriately, with revised overheads and projections.

What Information Will You Need?

• Last set of Audited Accounts
• YTD Management Accounts, along with any Exec commentary or similar
• Latest aged debtors and creditors report
• Original Forecasts/Budgets for the current year (pre-COVID)
• Current steps and planned steps to mitigate the impact of the virus
• Revised Forecasts for 2020 (stressed based on the impact) and 2021 (being more akin to business as usual), covering integrated monthly P&L, Cash Flow and Balance Sheet
• Invoice finance statistics – recent utilisation (where applicable)

Lenders will look for a cohesive, easy to understand the application and plan to help them make quick, timely decisions on the loan they issue.

Our partners can help take this uncertainty away and ensure that there is no need for re-work ensuring you’re saving valuable time and that access to funds is a quick as it can be.

They have relationships with over 40 lenders and understand what is required by the financial institutions to ensure that the application process is coordinated and pain-free.

The Loan

  • Applies to businesses up to 45m turnover
  • Up to 6 years with 80% of the loan guaranteed by the government
  • They will be interest and fee-free for 12 months
  • Options for businesses between 45m – 500m (CLBILS) are coming soon
  • Acceptance criteria may apply; refer to partner for details

 

The Coronavirus Large Business Interruption Loan Scheme (CLBILS)

Updated 17/04/2020
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) will open on Monday 20 April 2020 to facilitate access to finance for medium-sized and larger businesses affected by the coronavirus outbreak.

Our carefully selected partners are ready to help our larger clients with these loan applications.

CLBILS will be available through a range of British Business Bank accredited lenders and partners, which will be listed on the British Business Bank website.

A lender can provide:

  • up to £25 million to businesses with turnover from £45 million up to £250 million
  • up to £50 million to businesses for those with a turnover of over £250 million

Finance is available in the form of:

  • term loans
  • revolving credit facilities (including overdrafts)
  • invoice finance
  • asset finance

CLBILS gives the lender a government-backed partial guarantee (80%) against the outstanding balance of the facility.

Our COVID-19 Business Update page has further information on the range of support options available.

 

Welsh Government COVID-19 Resilience Fund

Updated 16/04/2020;
The Welsh Government has recently announced further support for Welsh businesses with the Economic Resilience Grant.
If you are a Welsh business with welsh ownership or an HQ in Wales you may be eligible for this grant.

Criteria include:

  • A sustainable business plan
  • COVID-19 Mitigation plan in place
  • VAT registered or sector exempt from VAT with a turnover greater than £85k
  • You will be required to demonstrate that you have either already accessed funding from your Bank (including the British Business Bank offer), or set out why you have not been able to, for example, a deferred application
  • Confirm no future compulsory redundancies will be made as long as the Coronavirus Job Retention Scheme is in place.
  • Supports operating costs rather than Capex or R&D etc
  • Have seen a reduction in turnover since 1st March (% dependant on the number of employees in the business)

For further information this grant funding, please get in touch. Further information on the scheme and eligibility can be found here 

 


Specialist Digital Tax Return Support and Bridging Loans

The Indigo Group have partnered with specialists digital tax firms to provide a range of services, including offering tax returns, self-assessment and loans.

• Preparation for Tax returns to reduce delays for you
• Tax Refunds
• Loans in advance of your Tax return

At a time when getting access to your traditional accountants and financial services providers may prove difficult. As fully digital businesses, our tax partners are set up to deal with you remotely,


Vehicle Buy-Back Schemes or Van Downgrade Options

In these uncertain times, cashflow is important king and we understand that some businesses may be in a position where they have equity tied up in vehicles.

The Indigo Group have partnered a leading vehicle leasing company to provide clients to offer a solution of sale and leaseback.

The process involves organising for funds to be advanced against the assets which you own and then lease or hire back to you in line with your needs.

We understand that you might have vehicles that aren’t utilised on a daily basis or being utilised at all at the moment.

We’ll introduce you to our partner who will review your situation and can then provide advice in line with your requirements to release much-needed cash flow but still service the needs of your business.

• Release equity from vehicles into business for cashflow.
• Continue to have use of your vehicles.
• Option to purchase back at the end of the agreement.
•  Service is available for commercial vehicles only.
• Option to replace older vehicles with brand new vehicles on hire or lease.


Furloughed Worker Support

As specialist payroll service providers, The Indigo Group an offer a bespoke furloughed worker support package.

Our payroll software can calculate Furlough for contingent and temporary labour and we can also offer digital remote outsourced payroll for furloughed workers

The Indigo Group have been providing payroll services to multiple industries and sectors for over a decade. Our skilled specialist team have a wealth of experience dealing with all manner of payroll challenges and can provide knowledge and advice around best practises and current trends.

  • Calculate Furlough for contingent labour
  • Calculate Furlough for temporary labour
  • Digital remote outsourced payroll

 

We have been working hard over the last few months to deliver a digital platform that will allow us to provide the same great service, in a much quicker and easier way for you.

All Indigo clients will get FREE access to our Furlough support Service that will provide a step by step process to help you ensure you are documenting and processing Furlough correctly.

Our digital platform will crucially also provide a clear, auditable record of all the steps you have taken for you to evidence this.

If you would like to hear more, please get in touch with your Indigo Client Manager.


Access Our Partners


The Indigo Group are actively working to create more COVID-19 support solutions.
Please return for updates and further information.

Top

This site uses cookies and other tracking technologies to assist with navigation, for you to provide feedback, analyse your use of our products and services, assist with our promotional and marketing efforts, and provide content from third parties.