Ignition Credit

Business & Personal Asset Finance in Cornwall

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RC Construction Builds on CBILS Support

12th February 2021 By Katy Baker

Newquay-based building and scaffolding company, RC Construction SW Ltd, was formed in 2013, and has become a well-established business in the local area, providing a variety of building services from brick paving, to loft conversions to new home builds. With its own scaffolding division, the company also supports local roofers and a solar power company with their scaffolding needs.

Although initially set back by the pandemic with some employees furloughed, RC Construction is now as busy as ever, working concurrently on two new build houses, as well as facing increased demand for its scaffolding services. 

A long-standing customer of Ignition, Director Andrew Taylor contacted Ignition regarding finance for additional scaffolding equipment and also requested a business loan to ease the strain on cash flow when commencing new groundworks contracts.

Ignition arranged a £25,000 Hire Purchase loan for new scaffolding equipment, through the Coronavirus Business Interruption Loan Scheme (CBILS) and was also able to provide a further £55,000 CBILS loan to assist with working capital.

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.

Andrew Taylor comments:

“It’s always a difficult time at the outset of a new contract, when there are substantial outlays but funds can’t be drawn for around six to eight weeks.  The CBILS loan will help us get these new contracts off the ground and support the growth of the business going forward.  Likewise, the new scaffolding equipment is already in use, helping us to improve our service and meet the increase in customer demand.

“Ignition have always provided us with really good service.  They respond quickly with workable solutions and minimal hassle.”

Filed Under: Case Studies

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If you require assistance or further information call one of our expert advisers on 01872 272900 or 0330 010 4282.

You can also request a quote online, or use our simple vehicle finance calculator.

Finance Products & Services

  • Asset Refinance
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Our Products & Services

  • Asset Refinance
  • Finance Lease
  • Hire Agreement
  • Structured Payments
  • PCP (Personal Contract Purchase)
  • Hire/Lease Purchase
  • Contract Hire
  • Operating Lease
  • VAT Deferrals
  • Corporation Tax Loans
  • Invoice Finance
  • Commercial Loans
  • Loan and Chattel Mortgage

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What We Finance

  • Car Finance
  • Prestige Car Finance
  • Classic Car Finance
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  • Haulage & HGV Finance
  • Bus & Coach Finance
  • Horsebox & Trailer Finance
  • Agricultural Asset Finance
  • Renewable Energy Finance
  • Construction Finance
  • Engineering Finance
  • Technology Asset Finance
  • Refurbishment & Fit-Out Finance
  • Catering Finance

About Ignition Credit

Registered Office
Sterling House,
Green Court,
Truro Business Park,
Threemilestone,
Cornwall,
TR4 9LF

Phone
01872 272900
0330 010 4282

Office Hours
Monday—Friday: 9:00AM–5:15PM

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Copyright © 2022 Ignition Credit. All Rights Reserved
E&OE Company Registration Number: 4315993 | VAT Registration Number: 864 5933 85 | Authorised and regulated by the Financial Conduct Authority FRN 679018
IGNITION CREDIT PLC IS AN AUTHORISED CREDIT BROKER AND LENDER I Registered Office: Sterling House, Green Court, Truro Business Park, Threemilestone, Truro, Cornwall, TR4 9LF

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