ANNOUNCEMENT / INFORMATION ONLY - Black Country Chamber Of Commerce - Carillion - Information re sup...
Main contract details
Opportunity Id
DN321635
Title
ANNOUNCEMENT / INFORMATION ONLY - Black Country Chamber Of Commerce - Carillion - Information re support packages
Categories
22000000 - Building and Construction Machinery and Accessories
27000000 - Tools and General Machinery
30000000 - Structures and Building and Construction and Manufacturing Components and Supplies
31000000 - Manufacturing Components and Supplies
32000000 - Electronic Components and Supplies
39000000 - Electrical Systems and Lighting and Components and Accessories and Supplies
48000000 - Service Industry Machinery and Equipment and Supplies
72000000 - Building and Facility Construction and Maintenance Services
Description
ANNOUNCEMENT / INFORMATION ONLY - SUPPORT PACKAGE FOR CARILLION SUPPLY CHAIN ANNOUNCED
Through delivery partners that include all the major high street lenders, the British Business Bank has announced a support package of £100 million worth of lending to small businesses who may not have the appropriate credentials for conventional lending using its Enterprise Finance Guarantee programme.
This will be of benefit to SMEs involved in the interconnected Carillion supply chain. These guarantees can be used to support overdraft borrowing and refinancing of existing debt. Since the launch of the Carillion Helpline, most calls have been focused on when supply chain businesses will receive payment, indeed, whether they will be paid at all. Thus, this weekend’s announcement is a welcome step for those supply chain businesses seeking answers in the wake of the liquidation. The Black Country Chamber of Commerce campaigned for a support package such as this in the immediate aftermath of Carillion’s collapse and welcome the government’s proactive approach to support business.
The UK’s leading banks have also furthered their commitment to provide support to those affected with UK Finance confirming additional support for personal banking customers concerned about overdraft, mortgage or credit card repayments, as well as further financial support for small businesses to provide short-term relief to help keep them afloat.
Business Minister, Greg Clark, said: “We want to signal very clearly to small and medium sized businesses who were owed money by Carillion that they will be supported to continue trading.
“The banks have responded to my request by agreeing to support businesses and individuals affected. This further guarantee will help those businesses who may not be able to provide the usual security for a loan. “I will continue to work closely with business organisations, trade unions and banks to actively support those affected by Carillion’s insolvency.”
Keith Morgan, British Business Bank CEO, said: “The Enterprise Finance Guarantee (EFG) is an important option for smaller businesses who need access to finance, but may not be able to meet a provider’s normal security requirements. To help in these exceptional circumstances, we have designed additional flexibility into EFG that could be particularly suitable for firms in the Carillion supply chain. We would encourage lenders to work with their customers to use these new flexibilities to meet their needs.”
Links;
https://www.the-blackcountry.com/news/Taskforce-launches-helpline-to-support-local-businesses-hit-by-Carillion-collapse
https://www.pwc.co.uk/services/business-recovery/administrations/carillion/suppliers.html
Through delivery partners that include all the major high street lenders, the British Business Bank has announced a support package of £100 million worth of lending to small businesses who may not have the appropriate credentials for conventional lending using its Enterprise Finance Guarantee programme.
This will be of benefit to SMEs involved in the interconnected Carillion supply chain. These guarantees can be used to support overdraft borrowing and refinancing of existing debt. Since the launch of the Carillion Helpline, most calls have been focused on when supply chain businesses will receive payment, indeed, whether they will be paid at all. Thus, this weekend’s announcement is a welcome step for those supply chain businesses seeking answers in the wake of the liquidation. The Black Country Chamber of Commerce campaigned for a support package such as this in the immediate aftermath of Carillion’s collapse and welcome the government’s proactive approach to support business.
The UK’s leading banks have also furthered their commitment to provide support to those affected with UK Finance confirming additional support for personal banking customers concerned about overdraft, mortgage or credit card repayments, as well as further financial support for small businesses to provide short-term relief to help keep them afloat.
Business Minister, Greg Clark, said: “We want to signal very clearly to small and medium sized businesses who were owed money by Carillion that they will be supported to continue trading.
“The banks have responded to my request by agreeing to support businesses and individuals affected. This further guarantee will help those businesses who may not be able to provide the usual security for a loan. “I will continue to work closely with business organisations, trade unions and banks to actively support those affected by Carillion’s insolvency.”
Keith Morgan, British Business Bank CEO, said: “The Enterprise Finance Guarantee (EFG) is an important option for smaller businesses who need access to finance, but may not be able to meet a provider’s normal security requirements. To help in these exceptional circumstances, we have designed additional flexibility into EFG that could be particularly suitable for firms in the Carillion supply chain. We would encourage lenders to work with their customers to use these new flexibilities to meet their needs.”
Links;
https://www.the-blackcountry.com/news/Taskforce-launches-helpline-to-support-local-businesses-hit-by-Carillion-collapse
https://www.pwc.co.uk/services/business-recovery/administrations/carillion/suppliers.html
Region(s) of supply
United Kingdom
Estimated value
N/A
Keywords
Carillion
Key dates
Estimated contract dates
Start date
17/03/2018
End date
31/12/2018
Expression of interest window
From 05/02/2018 14:13 to 31/12/2018 14:13
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Contact details
Buyer
Wolverhampton City Council
Contact
Mr Corporate Procurement
