Cramlington manufacturing firm secures loan to trade through pandemic
A North East manufacturing business has announced that it has received support from a UK bank to maintain its ability to trade.
S and B Eps Limited, based in Cramlington, have secured a loan from Barclays through the government backed Coronavirus Business Interruption Scheme (CBILS) to help it through the COVID-19 crisis.
S and B Eps Limited employs 46 people locally and turnover for the current year is expected to exceed £14m.
Darren Smith, managing director of S and B Eps Limited, said: “When we realised what the impact of COVID-19 would have on our growing business we knew we needed to act quickly to ensure our continued success and to protect the future of our employees.
“Working with the Barclays team, we secured a CBILS loan and the funding was released within days of our initial application.
“It’s great having someone we trust to explain the details and work through the different options available to us.”
Amanda Easton, Barclays relationship director, added: “It’s been very rewarding working with Darren and his team to provide funds so they can sustain their business through the current crisis.
“We’ve been able to structure the funding to provide flexibility and having the certainty of our backing S and B Eps Limited can not only continue to trade but also fund new and larger projects for their future success.
“We’re delighted to be able to support a valued customer through these challenging times.”
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