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SKM Asset Finance announces support to Construction Industry SMEs following Carillion collapse

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Date: Tue 23/Jan/2018, 13:42

It has now been a week since the collapse of Carillion with debts amounting to around £1.5bn.

With 20,000 people employed by Carillion in the UK alone, this news is set to have a devastating impact on the thousands of suppliers and contractors who may find themselves as collateral damage following the crash of this company. With jobs, pensions and key contracts at risk, this is set to have a huge impact on the wider supply chain over the coming weeks and months. 

Hopefully you are not one of the thousands of individuals or companies affected by Carillion’s liquidation but if you are then your business may require financial assistance. Putting plans into place now may help secure your business’s future and the steps that you take next will mainly depend on your level of exposure to them. If money owed to you by Carillion represents only a small percentage of your overall income then you may be able to continue without too much impact, however if your situation is more serious then please take the time to read further.

Some banks have already put measures in place to assist SMEs and we, as Asset Finance Brokers specialising in this sector, are also looking to help and support those companies in the Construction Industry who need it. We are independent of any Bank, Finance Company or Equipment Manufacturer and are members of the Construction Plant-Hire Association (CPA) and the Construction Equipment Association (CEA).

You may not be aware of Asset Finance and how it differs from your bank’s offering.

With over 35 funders on our panel we can assist you with:

  • raising cash on unencumbered assets to help through the coming months
  • rescheduling existing finance agreements to bring your monthly payments down
  • invoice finance solutions
  • short-term loans from 3-12 months
One or a combination of these can free up cash to pay VAT, Corporation Tax, Income Tax or Creditor demands as well as faster recovery from bad debts.
SKM Asset Finance has helped businesses through difficult times before in our 21 years of trading and we will endeavour to get you the assistance you require.

All information is confidential and there is no obligation for you to proceed with any advice or products we offer.

For a confidential conversation with us please contact Steve or Jackie Moody on 01202 855080.

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