A YORK accountancy, advisory and audit firm have created a specialist team to support SMEs applying for the coronavirus business interruption scheme (CBILS).

Garbutt + Elliott have brought together experts to provide guidance, and launched a free tool to complement this and help businesses manage their cashflow.

Garbutt + Elliott have assigned a team with more than 70 years’ experience in the banking sector, with David Streather and recently-appointed Neil Williams, who joins the firm from Santander where he was regional director of corporate and commercial banking across Yorkshire.

The CBILS package can provide up to £5m for smaller businesses experiencing lost or deferred revenues, leading to disruption in their cashflow.

Tony Farmer, head of corporate finance, said: “We are experiencing truly unprecedented times and it is important that businesses have access to practical and realistic guidance on what is available.

"The economic ramifications of the pandemic are immediate and significant therefore it is vital we work together to take decisive action to help Yorkshire businesses facing hardship as a result of the outbreak.

"My colleagues and I are actively helping businesses with CBILS applications during this extremely stressful time, easing the burden and helping them to understand what is available and how to best apply.

"We can support businesses with their conversations with banks and funders, providing valuable guidance and support with the preparation of accounts, cashflow forecasts and viability statements.

"If you are unable to access CBILS we can also introduce you to alternative funders and consider other funding solutions if your existing lenders decline your request.”

Russell Turner, managing partner, added: “We are working in a completely new world and the safety of our staff and clients is paramount. Together we are working through the challenges faced and helping local businesses in every way we can.

"I am delighted that our recent decision to strengthen our team with the appointment of Neil Williams has proven to be invaluable thanks to his longstanding experience in the banking sector.

"He joins David and Tony in a pivotal role helping businesses get their head around CBILS. We are all working hard to keep pace with the financial and social impact of COVD-19. Neil’s addition brings a wealth of experience to Garbutt + Elliott during this current period which will be welcome support for SMEs across the region.”

For further information about the Garbutt + Elliott cashflow tool visit www.garbutt-elliott.co.uk/blog/garbutt-elliott-cashflow-forecast-tool/