Distinction Group secures £250k CBILS facility from Santander
Distinction Group is one of the largest family-run contract furniture manufacturers in the UK and has been fitting out hotels, offices and residential developments nationally and internationally for 30 years. In 2019, it moved its banking to Santander and was making investments in the long-term future of the business.
When its supply routes were heavily disrupted by Covid-19, Distinction Group’s management team and Santander moved quickly to put measures in place to safeguard the business. A £250,000 CBILS facility was agreed and put in place in less than two weeks to manage the supply chain disruption caused by the pandemic.
Prior to the pandemic, a commercial mortgage had enabled the company to purchase a trading premises after nearly 30 years of renting. Santander UK has also provided working capital which has enabled the business to win and manage a large contract with a key client.
Mark Elliott, CEO Distinction Group, said: “We moved our banking facilities to Santander in 2019 and it’s refreshing to work with such a proactive, efficient and friendly team – from the relationship director to the FX trades team we’ve received a very high level of customer support. Santander has supported us with various credit facilities to help with business investments and most recently the CIBLS facility. I highly recommend Santander to any business looking for a bank who provide a highly professional and personal service.”
Stephen Clements, relationship director, Santander UK, said: “The Distinction Group is a well-established British business that trades internationally and has a strong reputation worldwide. We’ve drawn on expertise from across Santander to put range of services in place to support the business’s ambitions, both in the UK and abroad. We’re proud to support Distinction Group’s management team so the business is well placed to continue on its successful path.”
