Monday 01 June 2020





Eastman Staples, a Huddersfield-based garment and textiles supplier, has provided vital equipment to manufacture Personal Protective Equipment (PPE) for the healthcare industry after receiving a £300,000 loan from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS).

Eastman Staples traditionally supplies a range of equipment such as sewing machines, fabric and textile tools to clients across the garment industry. However, with demand for PPE across the UK surging, the company was inundated with requests from the NHS, its suppliers and factories searching for machinery and materials.

The six-figure funding package from HSBC UK has enabled Eastman Staples to quickly source and supply a range of equipment and machinery to their clients. Most recently, the company has supported volunteers of the “Scrubs Glorious Scrubs” campaign, who are creating colourful patterned scrubs for doctors and nurses working on the front line; and Northumbria NHS Trust, which has opened a PPE factory to help beat the supply crisis. To date, Eastman Staples has provided equipment including sewing machines, chairs, garment rails and mannequins to these clients at a time of unprecedented need.

Peter Kyprianou, Director at Eastman Staples, said:

“As with many businesses, Eastman Staples has faced uncertain times during COVID-19, which has required us to quickly adapt our business model to clients’ needs. We were inundated with requests from PPE suppliers who were desperately trying to meet demand and we were determined to help them, but this would not have been possible without the HSBC UK team, including Navin Sharma and Joanne Evenden. The funding has enabled us to meet these urgent orders and helped to keep the business trading throughout this challenging time.”

Andrew Kyprianou, CEO at Eastman Staples, added:

“I’m extremely thankful to Navin Sharma and the wider team at HSBC UK for their support, not only in the current situation but since we began working with them in 2014. They have been a major contributing factor to the company’s growth.”

Navin Sharma, Relationship Director for Corporate Banking, HSBC UK, commented:

“It’s vital that every solid business has the chance to survive during this challenging situation. The team at Eastman Staples has been incredibly flexible and dedicated during an uncertain time and we are humbled to support them as they strive to supply vital machinery. We look forward to seeing further demonstrations of how the business is helping their healthcare clients over the coming months.”

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 new 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

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