A BUSINESS hit hard by the coronavirus pandemic has secured a lifeline £250,000 loan to help it weather the crisis.

Port Glasgow firm REL Group — a wholesale electronics supplier and recruitment specialist — suffered major trading blows early on in the worldwide health emergency due to the nature of its business.

But essential funding from Barclays under the UK Government-backed Coronavirus Business Interruption Loan (CBIL) scheme has provided a foundation on which to build for the future.

REL provides computer manufacturing and servicing to businesses across the world and also offers temporary and permanent recruitment services to a range of sectors.

The firm experienced a noticeable decline in supply chain orders in March while its recruitment division saw the majority of its temporary contracts cancelled as UK businesses moved into lockdown.

Bosses approached Barclays for support under the CBIL in order to manage working capital and meet essential overheads including employee wages and furlough payments.

Tom Harwood, REL Group chief executive and owner, said: "The knock-on effects of the pandemic to our business were notable and we brought in a number of measures including significant wage reductions for senior management and a six-month rent holiday for our operating premises.

"All non-essential costs were removed and we negotiated three-month capital repayment holidays on existing facilities.

"We've also taken advantage of the government’s furlough scheme, putting nine of our 22 staff on furlough.

"We worked collaboratively with Barclays to complement the measures we had in place and the CBIL provided by the bank will help to protect cashflow during these uncertain times."

Helen Hutchison, relationship director for Barclays corporate banking team in Scotland, said: "REL Group is a well-established business with over 25 years of trading under its belt.

"We've been the principal bank for six years and were impressed with the immediate actions implemented by the management team to control costs and manage creditors and funders.

"These actions, coupled with the CBIL facility, will help to ensure business continuity through the period of impacted trading."