Member Article

Marske dessert company set to expand with North East Microloan Fund investment

A wholesale dessert company in Marske, Redcar and Cleveland, has secured a five figure investment from the North East Microloan Fund to grow their sweet business into a new ice-cream range.

Sweet Art Patisserie manufactures handmade and bespoke desserts for large hotels and restaurants in the region, including Middlesbrough football Club and York racecourse.

David Wrigley, Director at Sweet Art Patisserie, has spent all his working life as a passionate pastry chef for high class hotels.

Inspired by artistic desserts and equipped with a wealth of experience and connections, David and his wife saw the opportunity in the North East market to set up their own dessert company to supply products to establishments in the local area.

The recent investment from the North East Microloan Fund will be used to expand their product range to include ice-cream that compliments their desserts.

The management team saw the demand for quality ice cream in their area and so sought funding to buy the relevant equipment that would enable them to start in-house manufacturing.

The Microloan Fund’s objective is to help take businesses to the next level by removing the barriers to finance which can hold businesses back.

Businesses from a wide variety of sectors can apply for a loan anywhere between £1,000 and £25,000, tailored to their individual business needs.

When asked what attracted them to the North East Microloan Fund, David responded: “We didn’t want to approach our bank as they are not ‘business friendly’.

“Rivers Capital were very interested in getting to know our business. They wanted to help us and find the right path to grow.”

Remarking on the process of getting the loan, he added: “The process was very straight forward. All you needed was a good business plan and cash flow forecasts, along with a good idea.

“The whole experience was like sailing down a meandering river. The whole process was a pleasure from start to finish.”

Nikita Bazko, Fund Manager at Rivers Capital Partners, said: “In the next three years with the boost from the Microloan Fund we expect the company to continue growing from strength to strength, building up a good strong client base.”

The Microloan Fund is a valuable source of funding in the North East and can provide affordable credit even if you have been turned down by traditional lenders.

The Fund differs from traditional lenders by focussing upon the quality of business models and not on the assets held by the company. As a result their approach means there’s an easy application process with a decision in two weeks. It’s fast and hassle-free, with professionals to talk you through every step of the way.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →