The Delga Group, has secured a “seven-figure” loan from HSBC, also through CBILS.
Delga Group comprises four companies: Delga Press, CSP, Martin Paper Sales and its new Delga Labels business, which was launched last month.
The group is based at the Medway City Estate in Rochester. It had sales of more than £13.5m in its most recent financial year and employs around 140 staff.
The operation is a key supplier to the NHS, with CSP supplying more than 80 NHS Trusts with a print and fulfilment service.
Managing director Ian Conetta (pictured below) said that Delga Group had been able to adapt “quickly and efficiently” to the Covid-19 challenges, during unprecedented times for all businesses.
“HSBC UK’s support has been phenomenal; from the moment we approached the bank for a precautionary loan, they were transparent and sincere, and we look forward to continuing our longstanding relationship with the team as our business continues to expand,” he said.
Delga Group has banked with HSBC for the past 14 years. The firm took out the CBILS loan on a precautionary basis, in a similar way to ProCo.
Jenni Adams, HSBC head of corporate banking in Kent, commented: “The Delga Group are a long standing Kent business with a very strong management team and have had huge success over the years. They have launched Delga Labels and won new clients at a challenging time which is testament to them.
“Whilst the company has adapted quickly and efficiently throughout the pandemic (including the provision of PPE which HSBC is pleased to be able to support such a critical supply chain at this time), the CBILS loan ensures it can navigate the next few months and fulfil new orders. We look forward to continuing our partnership with The Delga Group for many more years.”
Separately, Rochester-based large-format digital printing specialist Wallace Print arranged £250,000 of funding through its long-standing banking provider Barclays.
The firm usually operates 24/7 but had to temporarily halt trading in the early stages of the Covid-19 pandemic. However, it has been back in action for the past two months and is currently busy producing a range of social distancing graphics.
Managing director Gary Wallace (pictured below with the firm's team) said the firm had achieved its strongest quarter ever prior to the impact of the virus crisis, which caused sales during March to fall by 70%.
“The CBIL gave us our confidence back and Toni Burton, our relationship director at Barclays, has been instrumental in helping us secure it in good time. We were probably one of the first businesses to apply to the scheme, thanks to the swift communication we have with Toni and to her in-depth knowledge of our business.
“The funds that we received were absolutely crucial for us to remain operational during this difficult time, and to stay on track financially. During the last few weeks, we have had several new client wins, which would not have been possible without the CBIL and Barclays’ help.”
Wallace Print has banked with Barclays since the business was established in 1984.
Burton described Wallace Print as an example of a successful British business “with a great heritage”, and said that it was “crucial that we help these businesses during uncertain times”.
“Gary and I started discussing overdraft options at the beginning of March, but once the CBIL scheme launched we wanted to make sure that we moved quickly with the application process. The CBIL will ensure that they can continue making timely payments to creditors and suppliers in the coming months, as well as support their staff.
“I’m pleased that we have been able to support Wallace Print during this challenging situation and am certain that they will be stronger as a business once we come out on the other side of this.”
CBILS was put in place by the British Business Bank as one of a number of financing options aimed at helping businesses cope with the effects of the Covid-19 pandemic. Loans are available through more than 40 participating lenders.
