23 Jul 2020
Liverpool based SME funding provider MSIF is continuing to support regional businesses impacted by the Coronavirus pandemic following the recent launch of their dedicated Coronavirus Resilience and Recovery Fund (CRRF).
North West Linen Services Ltd, a provider of laundry and linen hire services to hotel and hospitality clients throughout the North West, is one business that has successfully accessed the fund, and the Coronavirus Business Interruption Loan Scheme (CBILS) guarantee, to secure a £100,000 investment.
Managing Director, Anna Slater approached MSIF for financial support who were able to provide a quick turnaround to deliver the funding needed, helping guide her business through the Coronavirus outbreak.
Anna commented: “With our business being an extension of the hospitality sector, we found ourselves in a very difficult situation due to Covid-19. We had growing concerns about when the business would resume and how, in the meantime, we were meant to continue paying bills with no income to speak of.
“Having considered other avenues without success, I then approached Sue Chambers, an Investment Manager at MSIF and explained our circumstances. Thanks to MSIF we were able to quickly secure a £100k CBILS loan to allow the business to continue to trade and help us navigate our way through the impacts of the pandemic. MSIF have worked with us numerous times over the past 6 years helping us secure funding and progress our business. Sue and the team are invaluable and we cannot thank them enough for their support and belief especially in this testing time.”
Sue Chambers, MSIF Investment Manager added: “I have known Anna and NW Linen Services for a long time and I had the pleasure of supporting the business through various stages of its growth. As a young business woman, Anna has successfully grown her business and secured new contracts over the years, but sadly no-one could have foreseen the impact Coronavirus would have on local businesses across the region.
“I am thrilled that we have been able to support NW Linen once again. It is a terrific business and we have a responsibility to ensure that previously healthy SMEs can survive/make it through this difficult time.”