One of the first companies to benefit from the Coronavirus Business Interruption Loan Scheme (CBILS) is Hartlepool-based H.T.E.S (Northern), which specialises in providing training and assessment services to the engineering, petrochemical and construction sectors.
The business has received a £60,000 CBILS-backed loan from the Business Enterprise Fund (BEF) which is backed by the Northern Powerhouse Investment Fund.
Since the covid-19 crisis hit, sales have dropped by 75 per cent. The CBILS loan, along with BEF’s support, is offering a lifeline during tough trading conditions and the firm hopes to raise additional support from BEF to help with its growth plans once things get back to normal.
Established in 2012, H.T.E.S (Northern) offers accredited and in-house training courses to local, national and international companies. Training courses include a mix of NVQ/QCF/RQF qualifications through their accreditations with ECITB, CSkills and Proqual. The qualifications range from Level 1 Certificates through to Level 7 Diplomas.
Brian Goodlad, Director of H.T.E.S (Northern) said: “We have seen a significant drop in sales following the start of the coronavirus outbreak. The CBILS support provided by Business Enterprise Fund provides a boost to our cashflow which ensures certainty and stability in very difficult circumstances. It is an important lifeline that will help us survive and safeguard 15 full and part-time jobs”
Stephen Waud, CEO of BEF said: “As our health workers are striving tirelessly to save lives, we are working hard to save livelihoods. As a responsible finance provider our mission is to support and help communities; and SMEs are critical to those communities, especially now as jobs and livelihoods are at risk. The CBIL Scheme provided though the British Business Bank is an effective and essential lifeline for small businesses – the demand for funding backed by CBILS is unprecedented and we are working hard to satisfy those clients.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Business Enterprise Fund is authorised and regulated by the Financial Conduct Authority (FRN: 726237)
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