Leicester independent waste management company Bakers Waste Services has secured funding from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS) to support its cash flow during the COVID-19 pandemic.
Celebrating its 18th year, the business provides recycling and waste management services to over 5,000 customers across Leicestershire and Northamptonshire, including to small, medium and large supermarkets, food factories and hospitals, and employs over 100 people from across the local community.
Since the start of lockdown, the business has seen a downturn in demand from its trade customers. However, Bakers Waste has experienced an increase in public enquiries for skip hire over the last few months.
The additional facilities from HSBC UK, will support the business’s cash flow and operating costs in the short term, as well as enabling Bakers Waste to plan for the coming months as the lockdown is lifted and its customers reopen.
Paul Baker, Director at Bakers Waste Services said: “Like so many other businesses, we have felt the effects of the pandemic. The support from HSBC UK during this time has been fantastic and critical to ensure that we are able to continue to operate and support both our employees and customers during this uncertain period.”
Kate Beretta, HSBC UK Relationship Director East Midlands Corporate Banking, added: “We were delighted to be able to support the team at Bakers Waste with the provision of an additional finance facility and extended trade facility to ensure the business can continue to operate and support its customers during this period. Each customer has their own unique circumstances and it’s important that we’re able to provide the right financial solution to support them during this unprecedented period.”
The support from HSBC UK has also benefitted sister companies Driving Talent, which offers driver training and recruitment services and has seen an increase in enquiries due to the changing landscape, and Workstuff. Workstuff is a workwear and PPE supplier and have provided support to the emergency services, including the NHS, since the start of the crisis.