BMF Trade Credit scheme to be extended

Independent builders’ merchants and their customers will be pleased to hear that following an early review, the government has already decided to extend the Trade Credit Enterprise Finance Guarantee pilot scheme that was due to end in March. Thanks to the scheme, the Builders’ Merchants Federation secured up to £50m of government-backed guarantees for a six-month pilot launched last autumn.

The BMF was the first trade association to gain backing from the government to create a credit scheme to secure additional finance for independent builders’ merchants. The extension on the scheme means that many more approved BMF members will be able to continue to grant new credit facilities that will remain in place for 12 months, until the end of September this year.

John Newcomb of BMF said: ‘we have received applications from a wide range of companies, from those with a turnover in the tens of millions, to those turning over less than a million a year. If you have been considering applying [...] now is the time to go for it.’

If you’re keen to benefit from this scheme and to grow your business this year, you’ll need an intelligent retail software solution to help you do so. Integrity Trader’s point-of-sale software will not only help you to better manage your stock and promotions, but ultimately help you to increase sales. Find out how our software can benefit your business in light of the Trade Credit scheme extension by getting in touch today.