The Delga Group, a leading supplier of print and packaging materials based across two sites in Medway, has secured a seven-figure loan from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS) to provide stability to the company throughout the pandemic and protect 140 jobs.
The Delga Group specialises in design, printing, and manufacturing services for a range of clients including the NHS. The business operates four trading companies: Delga Press, Collector Set Printers (CSP), Martin Paper Sales and Delga Labels. Delga Press specialises in printed packaging and celebrates its 60th anniversary this August.
CSP currently works with over 80 NHS Trusts and private medical hospitals, primarily printing, storing, and delivering clinical and critical forms on a contractual basis. However, more recently, it has adapted its stock to provide Personal Protective Equipment (PPE) such as aprons and face masks. Delga Labels, which launched in January 2020, has also been supporting with the national PPE effort having recently won a contract to supply labels to hand sanitiser companies as they increased production during the coronavirus pandemic. Delga Labels has also been supporting local businesses in returning to work by producing ‘safe distance floor stickers’ for a post COVID-19 environment.
HSBC UK, which has been supporting The Delga Group for over 14 years, provided the seven-figure CBILS loan on a precautionary basis to ensure the company was able to maintain support for its clients during the crisis, despite any challenges that may arise. The loan will help provide vital stability to the business over the coming months, safeguarding the jobs of 140 employees and allowing it to focus on its customers and future growth plans.
Ian Conetta, Managing Director at The Delga Group, said:
“This is an unprecedented time for all businesses, but The Delga Group has been able to adapt quickly and efficiently to the challenges. HSBC UK’s support has been phenomenal; from the moment we approached the bank for a precautionary loan, they were transparent and sincere, and we look forward to continuing our longstanding relationship with the team as our business continues to expand.”
Jenni Adams, Head of Corporate Banking in Kent at HSBC UK, commented:
“The Delga Group are a long standing Kent business with a very strong management team and have had huge success over the years. They have launched Delga Labels and won new clients at a challenging time which is testament to them. Whilst the company has adapted quickly and efficiently throughout the pandemic (including the provision of PPE which HSBC is pleased to be able to support such a critical supply chain at this time), the CBILS loan ensures it can navigate the next few months and fulfil new orders. We look forward to continuing our partnership with The Delga Group for many more years.” 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 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