Skipton Business Finance provides funding to SG Brands
The funding will enable SG Brands to purchase stock from brand holders, enhance supplier partnerships, and widen its distribution network.
Specifics of the finance facility were not disclosed.
Founded by Samuel Gearing in 2019, SG Brands supplies fine fragrance labels to retailers such as Liberty and Fortnum & Mason.
The invoice factoring facility will also enable the company to invest in new opportunities with brands such as Portuguese beauty brand Benamôr and French fragrance house Bienaimé, addressing rising customer demand.
The deal between Skipton Business Finance and SG Brands was facilitated by Mark Millhouse from Oldham-based PMD Business Finance.
SG Brands director Samuel Gearing said: 'Securing the funding from Skipton Business Finance is a pivotal moment for SG Brands. It gives us the capacity to scale our stockholding and develop relationships with our brand partners.
'We chose to work with Skipton not just because of their flexible funding model, but because they took the time to understand our business and what makes it special. Their support means we can now pursue our growth plans with greater certainty and ambition.'
Skipton Business Finance North-West and Midlands regional sales director Jim Furey said: 'We are delighted to support SG Brands at the start of this exciting growth chapter. Samuel and his team have built a distinctive and highly respected business in the fine fragrance sector, and our funding will enable them to respond to increasing demand while safeguarding the operational ability of the company.'
'At Skipton, we work with an incredibly diverse client base, from traditional industries to innovative niche sectors, and SG Brands is a great example of that range. We are proud to be backing them through this period of growth and looking forward to being on that journey with them.'
Skipton Business Finance specialises in providing invoice factoring and discounting solutions tailored for SMEs across various sectors.
In March, the company provided a £350,000 invoice discounting facility to Invision Recruitment in Bishop's Stortford.
The funds enabled Invision to expand its permanent placement services in the construction and civil engineering sectors.
Last year, Skipton Business Finance reported a 13% increase in pre-tax profit, reaching £10.8m ($14.6m).
The company also noted a 19% rise in collective turnover among its clients, from £2.1bn to £2.5bn.
"Skipton Business Finance provides funding to SG Brands" was originally created and published by Leasing Life, a GlobalData owned brand.
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