Lloyds provides funding for Nim's Fruit Crisps
30 September 2016
Nim’s Fruit Crisps, a manufacturer of air-dried fruit and vegetable crisps, was originally launched in 2012 by Nimisha Raja. Nimisha used her own funds for product development and outsourced manufacturing to a company in Eastern Europe, whilst still selling in the UK. Following the popularity of the product, manufacturing was bro.ught back to the UK to ensure greater control over production.
Nimisha switched her banking facilities to Lloyds Bank, and the local team provided a working capital facility to enable her to purchase high volumes of stock and employ 4 members of staff.
Following the funding support from Lloyds Bank, it has secured listings with Amazon and Costco, as well as having attracted early-stage interest from Holland & Barrett. The business is also in discussions for own label products with a number of well-known high street retailers.
Nimisha now plans to put the funding to additional use by targeting new markets in the US, Europe and Australia by working with UKTI and FDF, as well as expanding the product line.
Nimisha Raja, MD of Nim’s Fruit Crisps, said: “Setting up Nim’s Fruit Crisps on my own was a big challenge and it made sense for me to start small, but bringing manufacturing back to the UK has not only given me control over production and supply, but accelerated the export market as the ‘Made in UK’ stamp of quality is well respected throughout the world.
“Access to finance proved to be a stumbling block, but when I was put in touch with Lloyds Bank the team understood my business objectives from the outset, and the funding support was instrumental in allowing me to get my venture off the ground in the UK.”
Mark Darby, manufacturing relationship manager at Lloyds Bank, said: “Nim’s Fruit Crisps is an innovative and forward-thinking manufacturing business and it was obvious that Nimisha had a clear strategy in place for the expansion into the UK.
“We are committed to supporting manufacturing businesses and this is why we have pledged to increase the amount of new funding support provided to UK manufacturing businesses by £1billion in 2016.”
More information
For more information on Lloyds Bank's expertise within the Food & Drink sector, please contact: Elena Paitra Managing Director, Food, Beverages & Tobacco Lloyds Bank Commercial Banking Tel: +44 207 158 6097 Mobile: +44 7775 716720 Email: elena.paitra@lloydsbanking.com
