Gillespie Macandrew secures over £2m of emergency business loans for clients in July

Gillespie Macandrew has secured over £2m of emergency funding for business clients in the last month. The firm’s banking and finance practice has advised on a number of government-backed emergency loans designed to help SMEs remain afloat during the coronavirus pandemic.

The support has included loans under the Coronavirus Business Interruption Loan Scheme (CBILS), the Bounce Back Loan Scheme (BBLS) and the Scottish government’s COVID-19 SME Liquidity Fund.

The team has also advised on ‘business as usual’ financing transactions of over £16m this month with organisations continuing to seek traditional finance arrangements.

Banking and finance associate Ross MacRae said: “We are pleased to have assisted so many businesses in securing critical funding during what is a particularly challenging period.

“Many of our longstanding lender clients continue to take a pragmatic approach to dealing with these circumstances and it is encouraging to see the support they are able to offer businesses at this time”.

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