Time Finance backs Seven Bro7hers brewery expansion with £250k funding facility
The SME lender arranged a £250,000 invoice finance facility for the Salford-based brewery, enabling it to increase craft ale production.
Time Finance has provided a funding facility to support the expansion plans of craft brewer Seven Bro7hers Brewing Co, helping the business scale production following a new supply agreement with J D Wetherspoon.
The SME lender arranged a £250,000 invoice finance facility for the Salford-based brewery, enabling it to increase craft ale production and meet demand from the nationwide pub chain.
The facility allows the business to release cash tied up in unpaid invoices, providing working capital that grows in line with sales.
This will allow Seven Bro7hers to invest in brewing runs, raw materials and operational capacity while maintaining day-to-day cashflow.
Seven Bro7hers said the funding will help support a significant step up in production as it fulfils the new contract, while also positioning the business for further expansion into new venues and UK supermarkets as it pursues its ambition of becoming a top-five craft brewer in the UK.
Founded in 2014 by seven brothers, the brewery has developed a strong reputation for craft beers that combine traditional brewing techniques with modern flavour profiles.
Rob Walters, business development manager (BDM) at Time Finance, said: “Seven Bro7hers is a perfect example of a thriving and healthy regional business able to sit in the driving seat of their growth plans and take advantage of new opportunities, with an invoice finance facility that allows them immediate access to their own capital.
“When Keith, one of its founders, came to us with this new business contract, he had a short window of just a few months to enable the exciting growth plans, so we needed to move quickly. We were able to set up a disclosed invoice finance facility in a short timeframe to give the business the quick access to the cash it needed to service this incredible pub group contract.”
Keith McAvoy, founder and CEO of Seven Bro7hers, added: “For a family-run brewery like ours, securing a national listing of this scale is genuinely game-changing, particularly after a challenging year for the industry.
“It allows us to put Seven Bro7hers beers in front of drinkers right across the UK, while staying true to who we are and where we’re from.
“As with any growing business, managing unpaid invoices can be a headache and a hit to your cashflow, and with this facility from Time Finance we’ve been able to double our production, and cover the upfront costs associated with this major new listing – from the cost of pump instillation, glassware, brewing, barrels and storage.”
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