Mobility business secures future with Lloyds Bank Covid-19 support

 Read time: 5 mins      Added: Date: 10-08-2020

Share:   LinkedIn     Twitter     Facebook     Share via email     Copy link to clipboardLink copied to clipboard

A Shropshire company that supplies mobility equipment to the NHS and charities has secured a Lloyds Bank loan to help it overcome a slowdown in orders because of Covid-19.

Quest88, whose products include equipment for children with cerebral palsy, has agreed a £200,000 funding package via the government's Coronavirus Business Interruption Loan Scheme (CBILS). It has also refinanced £110,000 of debt.

It manufactures and sells equipment to the NHS, councils and charities that support people with mobility issues, but saw a 50% reduction in orders during lockdown.

As a result, the business was forced to furlough nine of its 21 employees.

Overcoming uncertainty

Quest88, a Lloyds Bank customer for over 20 years, was founded by husband and wife team Jeremy and Pauline Henshaw.

The family business has turnover of £2.3m and specialises in orthotic equipment, which helps to support muscular development.

About 40% of its products are designed and manufactured in Britain with the remainder imported from the US and Germany.

"We see our products as essential as they improve quality of life for our customers."

John Dickenson, financial director, Quest88

John Dickenson added: "Although we've seen a slowdown in orders we expect to recover quickly when the country returns to some normality after lockdown.

"It wasn't an easy decision to furlough some of our employees but unfortunately we need to help secure the long-term future of the business. This new finance means we can trade through the current uncertainty and protect jobs so we get back up to full strength as soon as we can.

"We've been with Lloyds Bank for many years and the team were quick to offer support, turning around the loan in just a couple of days."

"Quest88's products improve the lives of people across the UK so we're very happy to be able to offer a package of support during these extraordinary times."

Claire Carr, relationship manager, Lloyds Bank

Support through tough times

Claire Carr added: "We're proud of our relationships with long-standing customers like Quest88 - it's a fantastic business"

Lloyds Bank has committed a £2bn fund to support businesses affected by Covid-19. The bank is offering fee-free lending to SMEs as well as capital repayment holidays.

All lending is subject to status.

Important legal information

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service. Please note that any data sent via e-mail is not secure and may be read by others.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

Lloyds Banking Group includes companies using brands including Lloyds Bank, Halifax and Bank of Scotland and their associated companies. More information on Lloyds Banking Group can be found at

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.