Support from Lloyds Bank strikes the right chord for music merchandiser Nylon
A specialist music merchandising company has secured jobs and is looking to the future with support from Lloyds Bank Commercial Banking.
Kent-based Nylon Merchandising Ltd. works with some of the biggest names in the music business to manufacture and sell merchandise at concerts and festivals. Its product range includes t-shirts, sweatshirts, posters and fridge magnets.
Like so many businesses operating in the events and entertainment sector, the company has seen almost all of its operations temporarily put on hold due to the Covid-19 outbreak.
Lloyds Bank has provided a package of financial support to help with the firm’s cashflow during this period. This has allowed Nylon to retain its five members of staff, ensuring it is ready to support rescheduled tour dates later this year.
Steve Hatton, director at Nylon Merchandising, said: “Every single live show that we had in our calendar has been either cancelled or postponed for the next three months at least.
“Lloyds Bank has been there for us since the very start of this. Our relationship director, Paul Kibby, reached out to me to offer support and very quickly worked to put a facility in place to help us with cashflow.
“The support from Lloyds Bank means we’re able to keep our staff on. It means that when things do go back to normal, and touring commences again, we’ll be ready to take advantage of the upturn in business we’re hoping to see.
“Without the support from the bank, a very difficult time would have been near on impossible.”
Alan Harber, SME South East area director at Lloyds Bank Commercial Banking, said: “Like many businesses, Nylon Merchandising was trading well a month ago with a great line-up of tours in the diary. The Covid-19 crisis has forced the business to pause much of its sales operation.
“We’re right by the side of businesses like Nylon Merchandising, supporting them through this difficult time.”