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£250,000 funding secured for Yorkshire-based food business
Reach Commercial Finance has secured a £250,000 funding deal for Prime Global Trade Ltd, a part of the rapidly growing Tuber Group, based in Hessle, East Yorkshire.
Prime Global Trade Ltd specialises in sourcing wild bird feed, nuts, avocados, exotic fruit and vegetables from around the world.
The company called in Phil Trueman from Reach Commercial Finance to help with funding imports of fresh produce from Africa, the Middle East and Asia, which were facing issues after Brexit and post-pandemic - both of which had impacted severely on the smooth-running of global supply chains in the food industry.
Reach brokered a six-figure invoice finance deal, working closely with an independent lender.
Phil Trueman of Reach Commercial Finance, who led the deal, said: We know the business well and having worked on a number of existing facilities we took the lead on recommendations for this issue, ensuring minimum work for the client.
Steve Humphrey, Managing Director of Tuber Group, said: The food industry needs experts in organisations like Reach to think creatively and come up with solutions to large-scale changes well beyond our control to keep our operations running smoothly. Being familiar with the business makes this easier for them to do - they are long term partners and always on hand to support us when we need it.
Phil concluded: Tuber Produce is a global client enjoying rapid growth. It is great to be involved in supporting their journey.
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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with a an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
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