Leading UK casing and packaging manufacturer, Trifibre, has secured support from HSBC UK through facilities including the Coronavirus Business Interruption Loan Scheme (CBILS).
Based in Leicester, the company supplies numerous industry sectors including aerospace, medical, oil and gas, engineering, audio visual, as well as the defence sector and emergency services.
Trifibre is a specialist in supplying cases as well as storage and handling solutions to the medical sector. Since the start of the pandemic, the company has been manufacturing cases, packaging and foam products for medical equipment including Covid-19 testing kits as well as PPE for both the NHS and its suppliers.
Trifibre are continually developing new products including operational systems and tooling, including a new range of rotational moulded cases, which the company is starting to manufacture internally later this year and a new customised CRM system designed by their sister company Xapsys Ltd.
The funding from HSBC UK will be used to support the business’s overheads during this period of uncertainty.
Chris Cox, Managing Director at Trifibre, said:
“Like so many other businesses, we have had adapt during this period but with the additional support from HSBC UK we feel we are in a position to be able to push forward, safe in the knowledge that we are in the best position possible to resume ‘business as usual’ once the country comes out of lockdown.”
Kate Beretta, HSBC UK Relationship Director East Midlands Corporate Banking, added:
“HSBC UK is committed to supporting its customers during this period of uncertainty and we were delighted to be able to support Trifibre with the additional facilities as the business looks to embark on new manufacturing projects. With every business facing different challenges, it’s important we tailor each package to give customers the best solution to their individual circumstances.”
HSBC UK is working closely with the Government and UK Finance to identify emerging issues and make sure customers and businesses have the advice and support they need. For tips and advice for businesses around planning for any possible disruption, visit www.business.hsbc.com/novel-coronavirus.
The new measures build upon the package of support that HSBC UK has already announced for business customers:
- Launched BBLS, CBILS, CLBILS and CCFF
- Allocated £5bn to help businesses that need support
- Removed the £100 Small Business Loan fee to relieve the pressure faced by SMEs across the country
- Removed informal overdraft fees – As of 1st April we will no longer apply any Informal Overdraft fees
- Offering repayment holidays to free up cash within businesses
- Stopped all unauthorised overdraft charges
- Reviewing overdrafts or trade loans to allow stock to be held for longer
- Offering companies involved in the supply and manufacture of ventilators preferential pricing, extended repayment terms on loans and fast track approval times to support the unprecedented demand on UK hospitals.
- We have also extended that support to customers that can give immediate help to essential public services and vulnerable people. We are contacting clients involved in the manufacture and supply of Personal Protective Equipment to offer preferential finance and, where possible, the direct purchase of supplies and equipment for essential public services.
- We will also offer similar terms to clients involved in the wholesale of food.
- Our relationship managers have been proactively contacting customers to see what help their businesses need.
- We’ve launched a coronavirus helpline to support any customer queries and a dedicated coronavirus hub on our website.
- For businesses trading internationally:
- £3bn to importers and exporters that need additional support
- pre-approved 60-day extensions on trade loans for customers with a sound trade loan/financing record
- a one-hour turnaround on the issuance of Shipping Guarantees, enabling customers to transfer or receive goods from their counterparty faster
- a dedicated helpline that connects directly with trade finance specialists (0800 783 1300, open 9am – 5pm Monday to Friday), in addition to the support being offered by relationship managers