- Type of finance
Machynlleth-based Dulas, an existing Development Bank customer, is a renewable energy company that received a £240,000 CWBLS loan to help manage cashflow during the Covid-19 pandemic. Working with wind, solar and hydro developers, the company employs 47 and has faced disruption due to the impact that Covid-19 restrictions have had on booking accommodation for those working remotely on installation projects.
Managing Director Ruth Chapman explained: “It took some time for us to see the real impact of Covid-19 on our business but we knew from the outset that we would need a safety net in terms of working capital.
“The loan from the Development Bank of Wales has given us breathing space. It has provided much needed working capital that means that we’ve been able to manage our cashflow during a really difficult time that nobody could have foreseen. Together with the Job Retention Scheme from UK Government, we’ve been able to ride the storm and are now adapting our working processes to ensure that we’re learning to live with the new normal.”