Stockport broker, Johnson Reed, has announced it has raised over £14.4 million for UK SMEs in 2020 to finance their businesses through the pandemic.
Johnson Reed was also approved as an intermediary for the Coronavirus Business Interruption Loan Scheme, offering 80% government-backed loans to businesses negatively affected by the pandemic. Since the scheme launched, the broker raised over £6 million during 2020 for its clients to overcome the financial challenges of lockdowns.
Managing Director, Mark Johnson reflected on the past year, saying:
2020 was a challenging year for all of us, it left us wondering where to turn and what to do, which is frightening when you’re a business owner and you’ve got bills to pay. Our team have been working round the clock since last March to get businesses back trading, and if not trading, investing for the future. I firmly believe that trade will come back bigger and stronger than ever, and the prospect of that is exciting.
“We’re seeing so many business owners investing in the future now as they look to grow and progress despite the events of the last year. We’re going to keep supporting businesses with a message of hope, that trade will come back, and it will be worth it.”
The business now plans to double the £14.4 million raised in 2020 in ambitious plans for 2021. The broker has committed to continuing to support small businesses to access finance and thrive, extend in the online support through blogs and video content that have connected with customers during national lockdowns.
Further information on accessing the CBILS funding is available from the Johnson Reed website.
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