Success Story
As it has with many businesses across the UK, the ongoing coronavirus crisis caused this beauty products manufacturer to look closely at its operating model in order to remain in business long term. With working capital provided via the Coronavirus Business Interruption Loan Scheme (CBILS), the company has been able to expand its manufacturing capabilities and employ more staff to facilitate future growth.
| Region/Nation | East of England |
|---|---|
| Programme | Coronavirus Business Interruption Loan Scheme (CBILS) |
| Partner |
Read what it had to say in this CBILS case study.
British Business Bank: Can you tell us what your company does?
Chris Taylor, business development director of Eve Taylor (London) Limited: My mother, Eve, founded the company in London in 1963, but now its entire UK and international operations are based within a single purpose-built site in Peterborough, Cambridgeshire, employing 20 people. We make and develop pre-blended aromatherapy oils and a range of skincare and bodycare products.
After nearly 60 years, Eve is still very much involved with the day-to-day running of the company, alongside my two brothers and me.
How did COVID-19 affect your business, and why did this mean you needed funding?
Like many businesses during the peak of the coronavirus crisis, we needed to adjust our operating model to continue to make and supply our products and services. Receiving a CBILS loan gives us the working capital and flexibility we need to support the manufacture of our skincare and bodycare products and see the business through the COVID-19 crisis.
How did you find the application process?
Very straightforward, and we were delighted that Barclays helped support us with our application for the government-backed CBILS loan.
Receiving a CBILS loan gives us the working capital and flexibility we need to support the manufacture of our skincare and bodycare products and see the business through the COVID-19 crisis. - Chris Taylor business development director of Eve Taylor (London) Limited
How has the CBILS loan helped your organisation to weather the outbreak? And what might have happened if you hadn’t received it?
This loan will enable us to not only secure and expand our manufacturing capability, but to add more staff in the near future as we continue with our growth plan.
Quick links
More success stories
Read a success story about Ruuby
An on-demand beauty marketplace, which allows customers to order a host of beauty services to their desired location, has raised £2m to accelerate its growth in the North West by doubling down on its existing operations in Manchester and Liverpool.
Read a success story about Power Roll
Based in Murton, Power Roll, a pioneer in the solar energy transition, has raised £4.3 million in its most recent funding round, including £1.5 million from NPIF II – Maven Equity Finance, which is managed by Maven Capital Partners as part of the Northern Powerhouse Investment Fund II.
Read a success story about Xentra
A fast-growing Leeds cybersecurity company secured a six-figure loan from NPIF II – Mercia Debt Finance, which is managed by Mercia as part of the Northern Powerhouse Investment Fund II (NPIF II).