Funding solutions and how to engage with your bank
02 April 2020
The relationships between businesses and their Banks have never been more important than in this current crisis. For businesses and the Economy in general to survive, we need to work together in partnership with all of our stakeholders.
Communication is key and an open and transparent approach is the best option, particularly when engaging with Banks and other financial institutions.
The Banks have collectively pledged their support to the business community in this crisis, but there are still processes that need to be followed. In order to ensure that engagement with your Bank or alternative Funder is productive, we suggest that you adopt a structured approach based on the key issues that your business is facing, the 'BDO 5 point plan'.
The below document contains more information about the funding solutions available, approaching your bank including BDO's 5 point plan and specific information regarding the Coronavirus Business Interruption Loan Scheme.
Covid-19: Funding Solutions and how to engage with your bank (updated 6 April)