Perthshire-based bespoke timber manufacturing company, Glenalmond Timber, has received £600k in CBILS funding from Royal Bank of Scotland to help safeguard the future of the business following the Coronavirus pandemic.
The Coronavirus Business Interruption Loan Scheme (CBILS) package will assist the third-generation family business to continue to supply clients across Scotland, the UK, Ireland and Europe. It will also enable the business to continue with its expansion and innovation plans.
Originally founded in the 1950s, the company currently employs more than 30 members of staff across its Perth Harbour and Methven facilities. The loan has enabled the business to keep all existing employees on board, as well as the creation of new jobs, with the recruitment of additional machine operatives.
Fraser Steele, Managing Director at Glenalmond Timber, said: “The funding from Royal Bank of Scotland has not only helped us to continue to supply our existing clients throughout the current pandemic, it has enabled us to pursue and secure several new clients as well as exploring ways to develop and expand our existing offerings post COVID-19.”
Ken Anderson, Relationship Director at Royal Bank of Scotland, said: “The construction sector and businesses that support the industry have been presented with a plethora of challenges over the past few months with the coronavirus pandemic bringing the industry to a temporary halt.
“It’s rewarding to know that our recent funding has allowed Glenalmond Timber to continue operations across the UK, Ireland and Europe and to prepare for the ‘new normal’ post COVID-19. I look forward to supporting and watching the company grow as the economy gets moving again.”