Skipton Business Finance has provided a six-figure invoice finance facility to Sheffield-based SG Brands, which distributes luxury and niche fragrances.
The invoice factoring will help SG Brands buy more stock from brand holders, support supplier relationships, and widen its retail distribution.
The business also plans to invest in new opportunities with brands such as Benamôr and Bienaimé to meet growing customer demand.
Samuel Gearing (pictured, left), director at SG Brands, 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.”
Gearing added: “Their support means we can now pursue our growth plans with greater certainty and ambition.”
Jim Furey (pictured, right), regional sales director for the North West and Midlands at Skipton, said: “We’re 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.”
Furey added: “We’re proud to be backing them through this period of growth and looking forward to being on that journey with them.”
