A Nottinghamshire landscaping firm has secured a six-figure loan to help it continue through the coronavirus crisis.
Ulyett Landscapes, based at Blidworth, has secured the £240,000 boost from Lloyds Bank through the Coronavirus Business Interruption Loan Scheme (CBILS).
The firm is responsible for the ground maintenance and landscaping at care homes, schools, public transport locations and construction sites.
However, following the closure of many of these sites due to the lockdown, Ulyett experienced a significant reduction in its workload.
This impacted cashflow, resulting in the firm having to furlough around 80% of its workforce.
Katie Burton, financial director at Ulyett, said: "When schools and businesses closed, we saw an immediate reduction in our workbook during what is usually a very busy period for us.
"We’ve furloughed more than 50 of our colleagues as a result, with around a dozen staying in work to keep the key jobs at care homes and transport sites ticking over.
"Thanks to the team, it’s meant we’ve been able to keep care homes’ grounds well maintained for residents to enjoy and kept core transport services like Nottingham tram system up and running for key workers to use."
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Founded in 1967, Ulyett Landscapes employs 63 people who maintain more than 300 sites across the 海角视频.
Mike Townroe, relationship manager at Lloyds Bank, said: "We’ve been the banking partner of Ulyett Landscapes since 1975 and are proud of our long-term relationship with them.
"Being able to help at this critical time and ensure their cashflow is robust enough to weather the current challenges means a great deal to us.
"We’re looking forward to working with them as they resume their growth in the coming months and years."