NatWest has provided funding in excess of £1m to support working capital, investment in IT and additional office space.
CLF Distribution Ltd has been established since 1998, and is currently based in Downton Business Centre. However it is expecting to grow from its current £25m to £60m during the next 3 years.
The flagship store will showcase to consumers natural health and beauty items to nutritious foods, sports nutrition and healthy lifestyle recommendations. It will also illustrate to other independent healthfood retailers the benefits of state of the art stock replenishment and reporting systems to enhance the offering to its customers.
NatWest's team, co-ordinated by Gary Hodgson, senior relationship manager, has supported this expansion by providing £350k of further funding under the Government’s Enterprise Finance Guarantee scheme, an increase in its invoice discounting line of £500k and a property loan of £175k.
Robin Holiday, Managing Director and founder of CLF Distribution said, “We are really excited about the opportunities to grow our business further, and to enable our existing and new customers to grow their businesses too. NatWest has shown a real interest in getting to know my business, including spending a whole day with us. They understand our goals and this funding package will enable us to take the next steps in that process."
Gary Hodgson, senior relationship manager at NatWest added: “I really enjoyed working in partnership with Robin and in collaboration with our specialist business partners across the bank. By spending time at CLF, as part of the banks “working with you” programme, this has really helped us to understand the unique strengths of this SME business and how we can support Robin’s business moving forward.”