• Dean Packaging has secured £20k CBILS funding package
• The South Wales based business employs 9 people
• The funding will enable the business to trade through the current climate and boost their existing funding package
Dean Packaging, a business based in South Wales, has secured a £20k overdraft facility from Santander UK through the Government’s Coronavirus Business Interruption Loan Scheme (CBILS) to support the business during the pandemic.
The business has been operating for more than 20 years and is a manufacturer and supplier of custom-made packaging. Dean Packaging serves customers from multiple sectors - from automotive to food and drink – and has a loyal customer base across the UK.
Following the outbreak of Coronavirus, many of the businesses that Dean Packaging services had to suspend productions and so demand for packaging declined. The £20k overdraft facility will help the business to pay its suppliers and meet ongoing running costs.
Ian Kennedy, Director, Dean Packaging, said: “The current pandemic has created huge challenges for the business not least loss of revenue, staff furloughs and social distancing. Santander have been a breath of fresh air and have been the first organisation to offer their full support and business expertise in ensuring the continued future of the company. The business loan organised and secured for us in double quick time is a lifeline for us and ensures we will survive the current situation.”
Paul Williams, Business Relationship Director, Santander UK, said: “Dean Packaging’s orderbook was decreased significantly almost overnight but this is a business that has weathered many storms throughout its 20 years' operating. We are happy to provide this overdraft facility and will be there to support the team when restrictions are lifted and business resumes.”
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