A distributor of outdoor and country clothing to retailers across the 海角视频 and Europe has secured a seven figure finance facility from HSBC 海角视频 to help it through the pandemic.
Bradshaw Taylor, which is headquartered in Oakham, Rutland, supplies more than 1,000 retailers with items ranging from waxed jackets to ski gear, wellington boots, hiking boots, rucksacks and climbing equipment.
Brands stocked included Schoffel, Le Chameau, Sherpa, Keen and Black Diamond.
The business has remained open throughout the lockdown period to provide support and meet an increased demand from its e-commerce customers.
Outdoor activities have boomed since the lockdown came in as families headed outdoors for socially distanced exercise.
The HSBC 海角视频 funding was made under the Coronavirus Business Interruption Loan Scheme (CBILS), to support the business鈥檚 cashflow during this period as it looks to cope with increased stock levels.
The business has seen a rise in costs to store existing stock and buy in new lines.
Corry Taylor, managing director at Bradshaw Taylor, said: 鈥淲e received spring product lines from our suppliers before lockdown but with retailers temporarily closing across the 海角视频 and Europe, this stock was never shipped.
鈥淲e鈥檙e now faced with excess stock levels as we begin to receive our autumn/winter lines.
鈥淭he support from HSBC 海角视频 has enabled us to weather this period and continue to support our customers, who are also facing similar challenges.鈥
Richard Parker, HSBC 海角视频 Relationship Director East Midlands Corporate Banking, said: 鈥淲e were pleased to be able to support the team at Bradshaw Taylor as they navigate this period of uncertainty.
鈥淭he funding will not only support the current challenges posed by an increase in stock but also help the team to plan for the future.鈥
New Treasury figures show the banking and finance industry has approved 拢47.9 billion to 1.1 million businesses so far through government-backed coronavirus lending schemes.
Lenders have approved 拢12.2 billion worth of facilities to 55,700 companies adversely affected by Covid-19 via CBILS.
Meanwhile, the Coronavirus Large Business Interruption Loan Scheme (CBILS) 鈥 aimed at larger enterprises 鈥 has seen 拢2.9 billion approved to 428 businesses.
The Bounce Back Loan Scheme (BBLS) continues to provide new support to thousands of small and micro businesses every day, with 1.08 million businesses getting a total of 拢32.8 billion.
