Situation
An established Northern Ireland-based business, specializing in the production and distribution of food products, notably cheeses, hummus, oils, and dips, saw an increase in orders from mainland European customers. This was due to a recent investment in new production equipment that expanded their product range. The company was also impacted by the ongoing conflict in Ukraine, which necessitated new suppliers for key items such as olive oil.
Challenge
The larger orders now being received, due to the perishable nature of the goods and the quick turnaround times on orders, caused some occasional cash flow issues. These issues had the potential to hamper the company’s growth.
How we helped
Having been introduced to the business, we realized that our flexible Export Finance facility would allow the company to deal with the challenges of its ongoing growth and secure new supplier lines with confidence.
Results
A £50,000 facility was put in place, allowing the business the flexibility necessary to deal with the larger orders being received. This support is a testament to our commitment to helping businesses thrive in the face of new challenges.
Social or environmental impact
The company has increased its headcount over the past 2 years. Our facility will help provide the business the basis to continue to grow on a secure footing. This aligns with our mission to support businesses in their growth and expansion efforts, contributing to job creation and economic development.
