Hamper business set to double capacity with NPIF II funding
Summary
He now runs it with his wife Letitia from its premises on Hulls Boulevard.The NPIF II funding will give it additional capacity to meet the growing demand. A new mezzanine floor will double space in the warehouse, providing storage for 7,500 extra hampers which can be packed in advance and ready to ship during peak times. Meanwhile a new conveyor belt and pallet wrapping machine will allow it to pack an additional 720 hampers per day, almost double the current rate. The funding will enable us to overcome the constraints and move forward.Rebecca Pickering of Mercia Debt added: Peach Hampers is a small, family-run firm that punches well above its weight and competes with big players in the market. We are pleased to support Brendan and Letitia on their growth journey.Lizzy Upton, Senior Investment Manager at the British Business Bank, said: The UK gifting market is robust and Peach Hampers are capitalising on the growth in this sector, using NPIF II funding to fuel its expansion and ultimately grow its capabilities, all from its base in Hull.Andrew Bradley of Humber Business Growth Hub provided business and fundraising advice to the company.The \xa3660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from \xa325k to \xa32m and equity investment up to \xa35m to help a range of small and medium sized businesses to start up, scale up or stay ahead.The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England.