Coronavirus Funding Secures The Future Of Newark Contractor

Coronavirus Funding Secures The Future Of Newark Contractor

Newark-based specialist façade and cladding contractor, Task Contract Services, has used a six-figure Coronavirus Business Interruption Loan Scheme (CBILS) loan from NatWest, to safeguard the future of the business.

The £250,000 finance package will assist with cash flow and employee wages, providing for the adverse impact of project site closures.

Although Government guidelines didn’t officially shut down the construction industry, many sites closed due to concerns around health and safety. At the sites that remain open, Task Contract Services has continued to safely fulfil contractual obligations where possible, as well as continue with designs and material procurement.

Task Contract Services was founded in 2000 and operates as a sub-contractor in the specialist cladding sector. The firm has seven office staff and 30 site operatives working on projects across the country including hotels, universities, student accommodation, schools and residential apartment blocks.

Adrian Cowell, Director at Task Contract Services, said:

“It has been a challenging time navigating the construction sector. Where we have been able to continue working on sites, we have made sure to do so safely and by adhering to social distancing measures.

“However, on projects where we’ve had to cease operations, we are continuing to incur expenditure. As this is clearly not sustainable, we turned to NatWest to help us review our finances. We have banked with NatWest since we first launched in 2000 and it has always been supportive to us over the years but even more so at this time of greater need due to Covid-19.

“Our Relationship Manager Lucy and the rest of the team have been incredible and the CBILS process was really quick, putting our minds at rest from very early on. As some sites begin to open again, albeit with skeleton staff and adopting safe working procedures, we are well-placed to continue operating as a business.”

Lucy Dykes, NatWest Senior Relationship Manager, said:

“At NatWest, our priority remains supporting local businesses like Task Contract Services through this challenging time. We helped Adrian secure the CBILS funding quickly to ensure the business had everything it needed to continue operating going forward.”

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