A Lichfield based video game developer has secured a funding boost from the Coronavirus Business Interruption Loan Scheme (CBILS).
Elite Systems has secured £25,000 from CBILS-accredited lender BCRS Business Loans to cover a temporary fall in revenue due to the current pandemic.
The company recently recreated and sold 10,000 units of the 1980’s home computer, the Sinclair ZX Spectrum and is currently engaged in re-establishing another great 80s computer brand, C=Commodore, and appointing licencees.
The Coronavirus Business Interruption Loan Scheme, delivered through almost 50 British Business Bank accredited lenders, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak.
The managing director of Elite Systems, Steve Wilcox, said:
“Elite Systems was established in 1984 as a leading developer and publisher of games for popular home computer systems, which it continues to be today, as well as being a designer and developer of innovative entertainment hardware devices.
“Although we are continuing with design and development work from home, like most businesses we are currently experiencing a significant reduction in turnover due to the interruption caused by the pandemic.
“This has of course temporarily affected our cash flow which prompted us to access CBILS funding. Now this is in place, our business is secured for the lockdown period and we can make preparations for normal trading to resume as soon as it is declared safe to do so by the government.”
