A manufacturer of protective clothing and equipment has secured new coronavirus funding.
Redditch-based Pulsar normally makes high vis and protective clothing for clients in the construction, transport, retail and engineering sectors.
It has now secured a new, undisclosed finance facility from HSBC UK through the Coronavirus Business Interruption Loan Scheme to support its continuing operations and also the development of new lines including a hand sanitiser range and sourcing face masks for its distribution network.
Chairman Ian Jukes said: "When the lockdown came into effect, we were faced with an overnight decline in business of around 80 per cent.
"We made the decision to diversify to provide much needed PPE supplies for sectors where equipment had already been diverted to frontline healthcare workers.
"The facility from HSBC UK enabled us to sustain trading and to continue to support our customers and suppliers throughout the period.
"Our hand sanitiser range is produced in the UK and we've seen the demand for this product continue from both new and existing customers.
"It will become part of our core range and we're now looking to develop our products further to meet the shift in demand with a hand sanitiser station already in development."
The funding is in addition to overdraft and trade line finance facilities already in place from HSBC UK.
Mark Lupton, HSBC UK greater Birmingham area director, added: "We were pleased to be able to support the team at Pulsar as they navigate this period of uncertainty.
"The core business has already started to show strong signs of recovery following the lockdown period.
"The additional finance facility will not only support the business as it continues to meet increased demand from customers but also as it looks to develop new product ranges to meet changing customer and industry requirements in the future."
