A six-figure Coronavirus Business Interruption Loan Scheme (CBILS) loan from NatWest has helped to safeguard the future of a Doncaster-based manufacturer.
Founded in 2000, PKR Ltd specialises in the manufacture of cardboard, plywood and plastic cable reels, spools and wooden drums. It manufactures most of its reel components at its premises on Doncaster Road, as well as offering a printing and a bespoke design service.
The finance package will assist with cash flow, enabling the business to continue to manufacture and supply UK and European companies.
PKR is currently suppling key industries with reels for ventilator tubing and wiring for hospital machinery, as well as other essential businesses during the Covid-19 lockdown.
Robert Parkinson, managing director at PKR, said: "We are one of Europe's leading cable reel manufacturers and exporters, and therefore our priority is to maintain the high-quality service that we offer our customers, while ensuring the safety of our 40 staff.
"NatWest contacted me to discuss how the business would be impacted by Covid-19 and provided support throughout the application process to ensure it went as quickly and smoothly as possible.
"The funding will support us through this downturn in business and as we begin to increase production again once we are able to return to normal staff numbers and practices at our Doncaster site."
Kevin Burrows, NatWest senior relationship manager, added: "At NatWest, our priority is ensuring our customers have extensive support through this challenging time. We have worked closely with Robert to secure the funding quickly, review the potential impact of the crisis on PKR Ltd and ensure the firm has everything it needs to continue business going forward."