Sheffield-based manufacturer, DP Doors and Shutters Ltd., has received six-figure Coronavirus Business Interruption Loan Scheme (CBILS) funding from NatWest, to help fulfil orders and ease possible cashflow pressures.
DP Doors and Shutters Ltd. manufactures, installs and repairs a range of industrial doors for the construction, industrial, food processing and commercial sectors.
It has been trading for 23 years and works with customers such as McCain Foods, Cranswick Food, KP Snacks and Moy Park who are all are continuing production to feed the nation during the pandemic.
While the manufacturer reported a strong month of sales in March, the managing director of DP Doors and Shutters, Alan Bolsover, was concerned that the impact of the Covid-19 outbreak could mean that the firm might struggle to fulfil existing orders further down the line, given that many sites were closing.
The CBILS funding has enabled the business to continue operating and servicing its food processing customers, while maintaining cashflow and safeguarding jobs for its 36 full time staff over the coming months.
Alan Bolsover said: “A third of our business comes from the food processing sector so it was vital that we remained open to service those customers. We had a good month in March meaning our order book was full, but I was mindful that if revenue was to fall off rapidly, the business may well need support to help us fulfil those orders.
“The money we’ve received will ease our cashflow pressures, help us cover our overhead costs and give us some breathing room as we get through this pandemic.
“I’m really impressed with the support we received. The entire process, from us sitting down with NatWest to us receiving the money took less than two weeks.”
The funding was managed by NatWest senior relationship manager, Kevin Burrows. He said: “No company could have foreseen the coronavirus outbreak, so it’s vital that we can support our customers financially to help them through this challenging time.
“After sitting down with Alan and doing a cashflow forecast, we decided that the CBILS funding could help mitigate any potential strain on finances further down the line. The next few weeks and months will undoubtedly be difficult for DP Doors and Shutters, but this funding should ease some of the pressure on Alan and his team.”