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Business Consultancy Case Study

Hawk Express Cabs

Coronavirus Business Interruption Loan Scheme

Hawk Express Cabs is the largest private car hire company in Ipswich. It operates over 270 vehicles across the region. They also specialise in airport transfers to Stansted and Heathrow.

“The bank has approved the CBILS fund of £150k to get us through these coming months (based on your August figures). You have played a massive part in assuring this happened, and without your help I would have found it very difficult, if not impossible. I know we are not the only client you will be doing this for and on top of all this additional work, I am sure you have your day to day work you also need to do. Many thanks for your help. I look forward to seeing you when all this is over”

Richard Morphew,
Managing Director, Hawk Express Cabs

Highlights and challenges

The Covid-19 pandemic severely affected Hawk Express Cabs, who saw their revenues drop by 80%, as the only passengers they were able to carry were NHS workers getting to and from work and those that did not or were unable to drive, generally the elderly.

The directors of Hawk Express Cabs needed business advice and support to ensure that they received a government Coronavirus Business Interruption Loan (CBILS), enabling them to meet their ongoing business costs, and also guidance with the Coronavirus Job Retention Scheme (CJRS) to help them claim for furloughed workers.

 

How we were able to help

  • Advising the directors of Hawk Express Cabs on the process of securing a CBILS
  • Liaising with their bank manager (NatWest) about what was needed to ensure the application process was as fast as possible
  • Presenting the bank with three cashflow forecast scenarios so that they could make an informed decision about the level of funding that was required. The three scenarios were on a best, worst and more realistic basis of when their normal levels of trading were to resume.
  • Working outside normal office hours in order to make certain that the loan came through as quickly as possible
  • Guiding Hawk Express Cabs through the CJRS to enable them to claim for furloughed workers

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