GC Business Finance caters to ‘huge demand’ for BBLS

GC Business Finance has reported huge demand for Bounce Back Loan (BBLS) funding since being accredited late last year, with 400 jobs secured as a result of loans provided in the region.

In November, the firm became the first lender in the UK accredited to provide BBLS to be backed by a local authority, managing £10m of emergency money from Greater Manchester Combined Authority (GMCA).

The fund targets eligible SMEs unable to access such cash from their own banks and which are based in and trading from Greater Manchester.

Director Paul Breen said: "We have seen extraordinary levels of demand from Greater Manchester SMEs for this support, emphasising a key funding gap that still exists for businesses looking to recover and grow following the impact of the pandemic.

"Driving the resilience of Greater Manchester's economy is something we are extremely passionate about, and we remain very much open for business.

"With more funds available for a limited period, I would therefore encourage any business whose existing providers are not a part of the BBLS scheme to get in touch and see how we can help you."

Lou Cordwell, chair of the Greater Manchester Local Enterprise Partnership (GM LEP), added: "As we look towards the second half of 2021 with cautious optimism, a Bounce Back Loan could be decisive for a struggling business navigating the coming months."

Original article: https://www.insidermedia.com/news/north-west/gc-business-finance-caters-to-huge-demand-for-bbls