Burley Hydraulics secures funding from Santander to support firm through coronavirus
Cambridgeshire based Burley Hydraulics, which supplies a wide range of hydraulic components and services, has secured funding from Santander UK and the Government’s Coronavirus Business Interruption Loans Scheme (CBILS).
The business will use the funding to support its 10 employees and maintain the business during the coronavirus pandemic.
Founded 28 years ago, Burley Hydraulics is based in St. Ives, Cambridgeshire, is an independent distributors of hydraulic and pneumatic equipment. Stocking a range of over 60,000 products, the business supports individuals and businesses of all sizes – from a simple hose clip, to spares for agricultural equipment and bespoke hydraulic systems. Their services include a mobile repair service and online shop, which have operated throughout the pandemic to support customers.
Santander UK has agreed a CBILS loan to ease cash flow challenges caused by the coronavirus pandemic. The funding will also enable the business to continue paying supplier costs to ensure it can continue to provide its specialist goods and services as restrictions are lifted.
Stuart Wesley, Managing Director, Burley Hydraulics, commented: “We’re confident in the resilience of our business and we have taken the responsible step of mitigating the effects of temporary fluctuations in demand. We’d like to thank Santander for their collaborative approach and support, which has been very reassuring.”
John Turner, Relationship Director at Santander UK, commented: “In what are undoubtedly challenging circumstances, this application demonstrates what teamwork can achieve with just 10 days from the application being submitted and providing the appropriate information, to the funds being made available. We are delighted to be continuing to support Burley Hydraulics.”