West Yorkshire manufacturing business secures funding from Barclays
Wakefield based Tasca Tankers today announced it has received support from Barclays through the Government backed Coronavirus Business Interruption Scheme (CBILS) in order to maintain the ability to trade through the COVID-19 crisis.
Tasca Tankers Limited was established in 1995 and is headquartered at Diamond Business Park, Wakefield. The business is one of the UKs leading manufacturers of road tankers, manufacturing in aluminium, stainless and mild steel. The business can also provide remounts and conversions, workshop facilities for all types of repairs, commercial painting and decalling, on site repairs and meter calibrations, tanker testing and tanker spares with next day delivery.
Shaun Harte, CEO of Tasca Tankers Limited said: “When we realised what the impact of COVID-19 would have on our growing business we knew we needed to act quickly to ensure our continued success and to protect the future of our employees. Working with the Barclays team, we secured a CBILS loan and the funding was released within three days of our initial application. It’s great having someone we trust to explain the details and work through the different options available to us.”
The business successfully negotiated a £250k CBIL facility, which will cover a shortfall in cash flow enabling no interruption to the supply chain and no impact on current projects and delivery timescales. Employing over 100 staff on site, the funding has also enabled the business to confidently pay their furloughed staff in the knowledge that they will receive funds from HMRC in May.
Jacklyn Hersant, Barclays Relationship Director put together the funding package for the deal and said; “It’s been very rewarding working with Shaun and his team to provide funds so they can sustain their business through the current crisis. The CBIL funding will enable them to continue to grow the business at pace and we’re delighted to be able to support a valued customer through these challenging times.”