“ After discussing Gold Crown bakeries needs with Andrew , I put together a bespoke lending package , helping the business to benefit from the Coronavirus Business Interruption Loan Scheme . We often receive enquiries from third party intermediaries and wherever possible we try and help them to secure the financial support needed to overcome the challenges their clients are facing .
“ For Gold Crown Bakeries , this meant a need to be able to access financial support quickly . We were able to approve the loan in just two weeks from the time of their application in March . The time between drawing down the loan and starting production was less than eight weeks , which is an incredible achievement , especially considering the business lost just four days of production time between closing the doors on their old bakery and the first Christmas puddings rolling off the production line in their new bakery . I ’ m looking forward to seeing how the business continues its impressive growth journey in the future .”
Melanie Ellyard at British Business Bank , said : “ It is excellent to see a business
10 FDPP - www . fdpp . co . uk like Gold Crown Bakeries receiving NPIF funding to finance growth into new facilities , as well as almost doubling its staff numbers , creating several new jobs in the Humber region . NPIF is here to support businesses at every stage of their journey with various funding options , so we are pleased to be a part of this .”
Gold Crown Bakeries was established in 2001 and is responsible for producing a diverse range of baked cakes and puddings including hand-decorated Christmas cakes , Christmas puddings , tray bakes , brownies and flapjacks . The company was acquired in 2015 through a management buy-out and is a now a fully owned subsidiary of Hider Foods , a family run business which has been based in Hull since 1965 . The company is BRC and SALSA accreditedAll products produced by the bakery are hand finished and within just six years , the company ’ s workforce has grown from just five employees to 28 members of staff . The relocation to new premises will see the company create 14 additional now jobs . Finance For Enterprise provides a range of tailored loans up to £ 250,000 , aimed at supporting SMEs throughout Yorkshire & Humber , Tees Valley and the North Midlands . The company is a delivery partner for the British Business Bank-backed Coronavirus Business Interruption Loan Scheme and acts as fund manager for the Northern Powerhouse Investment Fund and Start Up Loans .
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund ( ERDF ) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank .
www . npif . co . uk