The jobs of 36 staff have been secured after a specialist mobility equipment provider secured a £307,000 funding package from Lloyds Bank.
Stafford-based Easy Living Mobility was awarded the cash-boost as part of the Coronavirus Business Interruption Loan Scheme (CBILS) which was launched to help firms navigate the impact of the pandemic.
Easy Living Mobility is a mobility products retailer which operates a regional network of 12 stores across the Midlands and serves more than 35,000 customers each year.
Like many 'non-essential' retail businesses, the company was forced to close its doors to customers in March and furlough around two-thirds of its staff.
But the £307,000 funding package from Lloyds meant the company could continue some of its administration operations during the pandemic and pay some of its suppliers, whilst also being able to meet its own operational overheads and staff costs.
The business - which also has branches in Stoke-on-Trent and Dudley as well as Telford, Walsall and Wolverhampton - recently reopened its stores, but as the majority of its customers are aged over 70 and are classed as 'vulnerable' the firm's recovery is likely to be gradual.
The funding is also supporting Easy Living's sister company, Motus Medical.
Daniel Griffiths, director at Easy Living Mobility, said: "Our specialist mobility equipment improves the quality of our customers' lives. Unfortunately, they haven’t been able to access our stores or any of our installation or maintenance services during lockdown, and this has had a big impact on our customer’s lives as well as our business.
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"We've seen a substantial decrease in turnover since the crisis unfolded, so the support we’ve had from Lloyds Bank has been invaluable. The team was really helpful and quickly provided a funding solution to give us the cashflow needed to meet our overheads and other costs during lockdown. This has been a real lifeline for our business."
Adam Hartshorne, relationship manager at Lloyds Bank said: "The service and support that Easy Living Mobility provides to its customers is second to none. It helps people who rely on disability and mobility aids to live more independently, which is critical to their wellbeing. But as the business predominantly services a market that’s been impacted by the lockdown and social distancing rules, it needed extra support during these challenging times.
"We're working flat out to help firms like Easy Living Mobility to navigate the disruption caused by Covid-19. This includes lending through the Bounce Back Loan Scheme and Coronavirus Business Interruption Scheme, as well as capital repayment holidays on loans for businesses that have been affected."