One + Point Survey Ltd are survey and safety equipment experts, based in Verwood in Dorset and Exeter in Devon. They handle the sale, hire, calibration and repair of survey equipment for the construction industry, and the business was hit hard by the pandemic during the spring of 2020 with some of the staff being put on furlough. However, with the help of the Coronavirus Business Interruption Loan Scheme (CBILS), the company managed to continue trading throughout the tough period and since June, when construction industry activity increased, business for One + Point picked up and the company had a busy second half of the year.
The CBILS scheme provides 80% Government guaranteed loans up to £500,000, and asset backed loans to £750,000 with 12 months interest free. These commercial loans and some asset finance packages also benefit from a 12 month payment holiday, helping to ease business cash flow.
In an unpredictable and erratic year, One + Point’s business has been helped hugely by using CBILS to ease cash flow and finance the growth of its hire fleet. To date, One + Point has secured a total of £226,000 for its business and is currently very busy with all sectors of its business hire, sales and calibration.
Managing Director, Darren Lawrence, comments:
“Ignition has been a great help in securing CBILS financial support. The team at Ignition know our business and are easy to work with; they understand the complexities of the various Government schemes and know what is best for our business. All it took was one phone call and they sorted everything for us.”