SME lender helps Linkrider weather storm
SME lender, Simply, has helped Swanage Taxis Ltd, operating as Linkrider Coaches, restructure its finance agreements to ensure it can weather the current COVID-19 situation and continue trading.
Linkrider Coaches is a family-run firm that provides student and private coach hire services to the south coast. Established 35 years ago as Swanage Taxis, it has seven employees and is one of the longest running passenger hire firms in the region. Because the bulk of its work is focussed on the transport of students to and from their places of study, there has been no business for the firm since educational establishments closed before Easter.
Simply worked with Nick Hubbard at Linkrider Coaches to create a bespoke payment profile that mirrored the seasonal nature of the business, benefiting the company and giving it as much flexibility as possible.
Andy Beard, area sales manager at Simply, commented: “I’ve worked with the team at Linkrider Coaches for over ten years so obviously wanted to help in the current circumstances. While things are more difficult at the moment, the longer-term view is bright for smaller operators such as Linkrider, particularly as there should be a trend for more UK-based day trips and work in general once we are able to move around a little more. I’m really glad to have played a small part in saving this business.”
Nick Hubbard at Linkrider Coaches said: “It’s obviously a difficult time for many businesses. We contacted Andy as soon as we knew what was likely to happen over the next few months and knew that he would go the extra mile for us. He was proactive in rewriting our agreements, thus helping clear our arrears and also doing everything such as asset inspections and document signing remotely. A number of our competitors are no longer trading and thankfully, due to Simply’s tailored solutions, our business has been spared the same fate.”