FFP SOLUTIONS has more than doubled its workforce and secured £35m for clients during the Coronavirus pandemic.
In just 12 months the North Wales firm unlocked millions of pounds for SMEs nationwide via the Coronavirus Business Interruption Loan Scheme (CBILS).
And now the St Asaph-based finance brokerage is aiming to support more people through the UK Government’s new Recovery Loan Scheme (RLS), the replacement for CBILS.
Having grown from four to 11 staff in the last year, FFP Solutions is even better placed to help those affected by the pandemic to access relevant funding.
Director Richard Lloyd-Jones said: “To have secured more than £35m through CBILS is a fantastic result for us, and there is still more to come.
“A lot of people missed out on CBILS because they had not been trading long enough or didn’t meet the lending criteria, and many still don’t know what they are entitled to. It was uncharted territory.
“We encourage them to get in touch because they may be eligible for the RLS and should capitalise on any support available.”
He added: “Throughout Covid it hasn’t just been a case of getting money into businesses to help them survive, for us it’s always been about long-term planning.
“As a result, so many of the companies we work with have pivoted and shown great innovation so they can move forward with confidence and be even more resilient in the future.”
Among the companies to have benefited from joining forces with FFP Solutions was Waring Waste Ltd.
The Nottinghamshire waste recycler is set to unveil a £3m facility transforming household and garden waste into ethanol for the aviation industry after completing a £1.5m refinancing package with Directors Richard Pape and Gareth Jones.
“We are delighted to be able to help organisations looking to diversify and create solutions to global issues,” said Gareth.
Richard added: “The way we as a business have been flexible and dynamic has enabled us to grow, but also to add significant value to the companies we work with, and Waring Waste is an example of that.”
Waring Waste owner John Brooke thanked FFP Solutions for helping to make his vision a reality.
“I have already invested more than £1m into our Wildmerpool site and this extra finance will enable us to implement the changes needed – including new technology, equipment and infrastructure – and open the facility this autumn,” said John.
“We will be able to produce up to 10 million litres of sustainable ethanol a year from around four tonnes of waste a day, so it’s a massive operation.
“Our workforce will double to almost 40 staff and the output will have a positive impact on our environment and the local economy, so we are so glad to have worked with FFP Solutions on bringing this huge project to fruition.”
Alternatively, call 0800 783 3117 or follow them on social media at @FFPSolutions.
NOTES: The Recovery Loan Scheme (RLS) is to help businesses of any size access loans and other kinds of finance so they can recover after the pandemic and transition period. Up to £10m is available per business, and the UK Government guarantees 80% of the finance to the lender. No personal guarantees are required to be signed by the business owners up to £250,000. The scheme is open until December 31.