Advice News

Free advice offered to dealers over funding needs and planning for future

Time 10:43 am, April 7, 2020

Accountancy and business advice specialist UHY Hacker Young is offering dealers free financial guidance to help them get through the current crisis.

Any dealership whose turnover is under £500m and is looking to make an application to funders for a Coronavirus Business Interruption Loan (CBIL) can contact corporate finance partners David Kendrick or Adnan Sajid at UHY for free assistance.

The company said its team had been working closely with clients and contacts to collate their CBIL applications for funders.

The lengthy list of items needed for applications includes full accounts for the past three years detailing profit and loss, home addresses for all directors and shareholders, business bank statements – as well as personal statements in some cases – for the past 12 months, cashflow forecasts for up to 12 months, and a brief statement about how the business has been affected by Covid-19 and what the loan will be used for.

Kendrick can be emailed on [email protected] and Sajid can be reached via [email protected].

MORE: Coronavirus Business Interruption Loan Scheme revision welcomed

John Bowman's avatar

John has been with Car Dealer since 2013 after spending 25 years in the newspaper industry as a reporter then a sub-editor/assistant chief sub-editor on regional and national titles. John is chief sub-editor in the editorial department, working on Car Dealer, as well as handling social media.

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