Essex oil supplier secures £1.3m facility to boost global trade
An Essex-based edible oil and fat supplier has agreed a new £1.3m facility with Trade Finance Global (TFG) and GapCap.
MW Beer & Co has secured the new structured line of credit from GapCap, with support from TFG, in order to support its continued trading around the world and maintain its market position.
Founded in 1981, MW Beer & Co supplies vegetatble oil and fat to refiners and food manufacturers across Europe, Asia and North and South America.
This new facility will complement the firm’s existing line of credit secured with a high street bank, and support its plans to maintain its stronghold in international markets.
Martin Beer, CEO of MW Beer & Co explained: “GapCap have enabled us to increase our trade finance in areas where our regular bank line could not.”
Mark Abrams, head of trade finance at TFG, added: “Supporting a family-run business with a strong business model and credible trading facility was key and allowing them to strengthen relationships with suppliers, should allow the company to scale with this new line of business”.
Based in London, GapCap specialises in providing cashflow solutions to SMEs as an alternative or an addition to high street lending facilities.
Jack Trowbridge, commercial director at GapCap commented: “The M.W. Beer & Co transaction is a quintessential representation of the GapCap modus operandi.
“GapCap have worked alongside a traditional finance line from the High Street to further support the growth of a multi-million turnover business.”
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