GMJ Fire Prevention Ltd., a fire protection product company, has secured £4,295 from specialist social impact lender, GC Business Finance, through the Bounce Back Loan Scheme (BBLS) funded by Greater Manchester Combined Authority (GMCA).
Based in Bolton, GMJ Fire Prevention maintains, services and rents fire extinguishers for businesses in the North West and beyond. Focusing on quality and affordability, it also offers comprehensive fire safety training, equipping its customers with the knowledge and skills to conduct a safe evacuation in the event of a fire.
With many of its customers secured through face to face meetings and phone calls to office environments, the coronavirus pandemic immediately halted GMJ Fire Prevention’s growth and threatened the business’s future. After it was denied a loan by its business bank, GMJ Fire Prevention secured the four-figure BBLS loan from GC Business Finance, enabling it to continue operating during national lockdowns and look forward to growing the business when restrictions lift.
GC Business Finance is an alternative finance provider for businesses unable to obtain finance through their regular bank. It offers loans ranging from £500 to £500,000, including CBILS, start-up loans, equity investment, export finance and microfinance. In November, it became the first local authority-backed delivery partner to offer BBLS loans when GMCA pledged £10m emergency funding to support businesses in the region.
Gary Jacques, Managing Director at GMJ Fire Prevention, said: “The loan from GC Business Finance has helped us to navigate a difficult period and put the focus back on our business growth plan. I was really impressed with the way that GC Business Finance handled the loan: every aspect was totally professional. Jonathan and the team are a credit to the business. Thanks to them, we are already looking forward to offering our personal and friendly service to businesses again when restrictions lift.”
Jonathan Nelson, Senior Loan Manager at GC Business Finance, said: “In the last 12 months, the need for accessible business finance has been thrown into sharp focus, so we are proud to have helped GMJ Fire Prevention to mitigate the negative financial impact of COVID-19 through the Bounce Back Loan Scheme. It was a pleasure to work with Gary, and we wish him every success in 2021.”Back