Portway Scaffolding secured £100k from BCRS Business Loans via the Midlands Engine Investment Fund (MEIF) supported by the Coronavirus Business Interruption Loan Scheme (CBILS).
The company, which also has operations in Glasgow, hires and erects scaffolding at construction sites across the UK. With extensive experience in commercial and residential building works, transport infrastructure and demolition, Portway Scaffolding’s clients include Aldi, the Benniman Group and Persimmon Homes.
The coronavirus lockdown meant nearly all of Portway Scaffolding’s contracts were put on hold. This funding boost will help ease the firm’s cash flow and secure the jobs of 32 staff.
Director of Portway Scaffolding, Donald McGrath, said:
“Securing a funding boost at this time was an important step in helping us manage our cash flow during the period of interruption caused by the coronavirus.
“We expect business operations to start returning to normal soon, as lockdown measures are eased further and more construction sites re-open. In the meantime, we are busy reviewing our processes and putting additional measures into place to ensure it is safe for our staff to return to work.
“We have been communicating regularly with our customers and suppliers and envisage that demand for scaffolding will be similar to pre-lockdown levels, as we continue to fulfil pre-existing contracts and work on new construction sites resumes.
