Midlands-based 9 Wholesale has secured a £150,000 in funding to support its cashflow and create three new jobs, through the Midlands Engine Investment Fund (MEIF) backed by the Coronavirus Business Interruption Loan Scheme (CBILS).
Trading out of Kings Norton Business Park in Birmingham, the loan will enable the company to purchase stock, continue developing a new website and hire three members of staff.
9 Wholesale has been working within the take away sector for more than a decade and sells products such as packaging, soft drinks and frozen foods.
Director Larisa Scinteie, said: “As small businesses like ours continue to face challenging trading conditions, we are delighted to have secured this funding boost from BCRS. Fast food orders have soared during the coronavirus pandemic, as consumers turn to takeaway establishments to source their favourite foods.
“Whilst suppliers are removing credit facilities, our customers are continuing to request them, which has put a strain on our cashflow. With funding in place, we can continue to deliver a wide range of products to a growing customer base in the fast food industry, all delivered with the excellent service our customers have come to know and respect us for.”