An electrical contractor anticipating a record year in business has secured a £250,000 government-backed coronavirus loan to keep it trading through the crisis.
G-Tech, the firm responsible for lighting up Lincoln Cathedral - as a specialist in design, installation and commissioning of industrial, commercial and domestic installations, received the support from Barclays.
It will support cashflow through lockdown, and allow the Grimsby-area firm that operates nationally to meet obligations, while supporting a ‘business as usual’ return.
Guy Wakefield, director of G-Tech Electrical Contractors, said: “This should have been our best year yet in terms of profitability and turnover – and I’m hopeful that this still could be the case. However, Covid-19 has impacted us by both shutting down our sites and pushing back our pipeline of work.
“Our relationship manager has been great and I can’t speak highly enough of his support throughout this whole time. The positivity and speed of his approach was second to none.
“The biggest thing for us was the accessing the Coronavirus Business Interruption Loan to support our cashflow, which has ensured we’re able to pay overheads and any operating costs.”
Established in 2002, G-Tech is based on Wilton Road Industrial Estate, and started the year with the completion of the Lincoln Cathedral project - a £1.6 million overhaul and transformation to bring a new visual element to the internationally-significant landmark. It also enabled Lincoln to recognise the NHS and key workers in spectacular fashion.
Danny Scarr, Barclays business relationship manager, put together the funding package for the deal. He said: “I was delighted to be able to support the team with the funding. This will enable them to trade through this crisis and continue with their plans for the business moving forward.”