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Burley Hydraulics secures CBILS funding

Posted on 01 Jun 2020 and read 422 times
Burley Hydraulics secures CBILS fundingCambridgeshire-based Burley Hydraulics (www.hydraulics247.co.uk), 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) to support its 10 employees and maintain the business during the coronavirus pandemic.

Founded 28 years ago, the company is based in St Ives and is one of the country’s leading independent distributors of hydraulic and pneumatic equipment.

Stocking a range of over 60,000 products, it supports individuals and businesses of all sizes – from a simple hose clip, to spares for agricultural equipment and bespoke hydraulic systems. Its services include a mobile repair service and on-line shop, which have continued to operate throughout the pandemic to support customers.

Santander UK has agreed a CBILS loan to ease cashflow challenges caused by the coronavirus pandemic and 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 Burley Hydraulics managing director, said: “We are confident in the resilience of our business and we have taken the responsible step of mitigating the effects of temporary fluctuations in demand. We would like to thank Santander for its collaborative approach and support, which has been very reassuring.”

John Turner, Santander UK relationship director, said: “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.”