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  • Jeffrey Levine

The Business Survival Toolkit

With the sudden Corona Pandemic, many Businesses have found themselves in difficult positions.


While Governments have rushed to announce Financial Support plans, how Companies can get assistance is not so simple. As they say the devil is in the details.


I was on a Webinar with Capatalise.com, a leading UK Lending brokerage, and these are some of the practical takeaways, and what is action is required.


With over 360 lenders in the UK, only 40 can offer the Coronavirus Business Interruption Loan Scheme (CBILS), While there are many forms of assistance and lending, one needs to distinguish between Grants, Loans, HMRC payment freezes, and which are liable to personal Guarantees.


There is a changing security landscape, and with revenues sources not that certain, Lenders are moving away from unsecured lending backed by Personal Guarantee to fully secured. For example, Market Finance have pulled out of unsecured loans and are focusing on their core invoice finance offering.


So, where does one start ?


First approach your bank, and if and once they decline then you can approach other banks. Be careful not to get sucked into a slow reaction process


Businesses will clearly need to show that their business were viable before, and their forecasts going forward. The more UpToDate, the more accurate and the clearer presentation, will greatly help.


So, Companies in need to reach out to their Accountants, Freelance CFOs/FD’s as a matter of priority as time is essence. Companies need more than before clearer oversight, and Financial Information.





At a minimum, Companies, SMEs need to have :


· UpToDate and Accurate Management Accounts

· Review of Debtors and Creditors

· Review of immediate Cash Flow Needs

· Revised Forecast / Budget

· Extra 3rd Party Professional View for Accuracy , Presentation and Reality check


This Information is not only required for Lenders, but also for all Companies to put them into a better position to survive.


If you are in need of any Financial Assistance, please feel free to reach out to me on confidential basis to Jeffrey@persofi.com. I have extensive experience in the UK working with distressed Companies in a range of Industries from Distribution, Construction, Real Estate to Financial Service Companies, where I have assisted Companies in providing the list of items as mentioned above. These services are provided through www.Persofi.com, an ACA UK boutique Accounting firm with an ICAEW practise certificate.


In these trying times , I am happy to provide an initial free desk top review / consultation for selected Companies. Please feel free to reach out to me to discuss your needs.


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