Northamptonshire tooling manufacturer, BDL Tool & Die Engineering has secured a six-figure finance facility from HSBC UK to support the business during the Coronavirus crisis.
The funding, through the Coronavirus Business Interruption Loan Scheme (CBILS), has been instrumental to the business as it continues its restructure and expansion plans.
BDL Tool & Die Engineering has now begun offering customers a new fabrication service and started manufacturing crushing and screening equipment for the construction and demolition industry for the first time.
Established over thirty years ago, the company operates in three key sectors, supplying tools and dies in the UK and across Europe for the aerospace, hydraulic tooling and motorsport industries.
As well as supporting new investments, the additional finance facility from HSBC UK has also provided support across the whole business during this uncertain time, enabling the company to continue to operate, ensuring the supply of vital products to customers including a leading Formula 1 team to support the delivery of ventilators to the NHS.
Lindon Morris, Technical Consultant, BDL Tool & Die Engineering said: “We’re incredibly grateful for the support we’ve received from HSBC UK, not only in this most recent period, but also in the run-up to it.
“Over the last few years our business has almost doubled in size but following the uncertainty surrounding Brexit, and since the start of the pandemic, we’ve seen a downturn across the order book of over 30%.
“It was vital to remain open to ensure we could keep supporting our customers during this time and the support from the bank not only enabled this, but helped ensure that we’re in the best possible position to continue to develop and expand our business in the future.”
Mark Lupton, HSBC UK Area Director for Greater Birmingham, added: “HSBC UK is committed to supporting its customers during this period of uncertainty.
“We recognised the vital role the team at BDL Tool & Die were delivering to ensure their customers were able to continue producing much-needed equipment to support the nation’s recovery, so we were delighted to provide the additional facility.
“The business has already enjoyed substantial growth in the last few years, and we look forward to continuing to work with them as they continue to expand their business.”