£ 250,000 funding secured for Yorkshire-based food business


Member article

Reach Commercial Finance has secured a £ 250,000 financing deal for Prime Global Trade Ltd, part of the rapidly growing Tuber Produce group, based in Hessle, East Yorkshire.

Prime Global Trade Ltd specializes in sourcing food for wild birds, nuts, avocados, exotic fruits and vegetables from all over the world.

The company enlisted Phil Truman of Reach Commercial Finance to help finance imports of fresh produce from Africa, the Middle East and Asia, which were facing problems after Brexit and after the pandemic – both of which have had a severe impact on the smooth functioning of global supply chains in the food industry.

Reach negotiated a six-figure, two-month bill financing deal, working closely with an independent lender.

Phil Trueman of Reach Commercial Finance, who led the case, said: “We know the company well and having worked on a number of existing installations we have taken the lead in recommendations for this issue, ensuring a minimum work for the customer. “

Steve Humphrey, Managing Director of Tuber Group, said: “The food industry needs experts in organizations like Reach to think creatively and deliver solutions to large-scale change, far beyond our control, to keep our operations running smoothly. Knowing the company makes it easier for them – they are always available to support us when we need them. “

Phil concluded: “Tuber Produce is a rapidly growing global customer. It’s great to be involved in supporting their trip.

Reach Commercial Finance is an independent financial brokerage firm within the Leonard Curtis Business Solutions group. She has extensive experience in helping public limited companies and legal persons to obtain financing.

This was posted in the Member News section of Bdaily by Sue Souter.

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