Primopost secures six-figure EFG loan

A BUXTON packaging firm has received a six-figure government-backed loan to extend its premises.

Primopost, which supplies packaging to the food industry, has secured an Enterprise Finance Guarantee loan worth £363,000 from Barclays Commercial Bank in Manchester.

Established in 1986, Primopost employs 80 staff and has a turnover of £12m. The new funds will enable the business to increase its capacity by extending its factory.

Managing director Andrew Foster said: “We approached Barclays for finance to extend our existing 40,000 sq ft facility. We looked at the options open to us and in the end opted for a loan under the Enterprise Finance Guarantee (EFG) Scheme.

“The funds will help to secure the future of our business and the jobs of the local people who work for us.”

Stuart Stocks, relationship director for Barclays Commercial Bank in Manchester, said:  “The support for Primopost is another great example of our continued strong appetite to provide funding to quality businesses in the region, and our commitment to help businesses achieve their growth aspirations.”