Laila’s doing fine with NWDA loan fund
FROZEN food company Laila’s Fine Foods has been given £250,000 through the Transitional Loan Fund.
The Blackpool-based company, which employs more than 100 people and supplies Far Eastern and European ready meals, is one of the first in the region to benefit from the Northwest Regional Development Agency’s business assistance package.
Laila Remtulla said the funding application was “a time consuming process” but worth it.
“I believe it’s easy to be negative about the current economic situation but with a positive attitude and hard work we are determined to come out the other side even stronger and well placed for the future,” she said.
She added: “We have no difficulty finding new clients and recruiting more staff.”
Clients include Asda, Morrisons and Aldi as well as other food service operators in the UK and Europe and the company says major contracts wins will result in a three fold increase in turnover in 2009 and with a further increase of 30% moving into 2010.
Steven Broomhead, chief executive at the NWDA said: “The NWDA have identified Laila’s Fine Foods as being an ideal candidate to be approved for assistance with a Transitional Loan. This will bridge the financial gap in the absence of commercial finance traditionally obtained from banks.
“One of the NWDA’s most important roles is to support the region’s businesses. In response to the current economic conditions, the NWDA has increased the level of investment into business finance schemes, as well offering enhanced financial business advice.”
