Bank funding is a gift for K2

GREETINGS card company K2 Greetings has secured new funding which will help the firm to develop its fledgling Party Paws brand.

The Bury-based company has received an £85,000 loan and a £250,000 invoice discounting facility from Royal Bank of Scotland. It intends to use the loan to develop a range gifts and other Party Paws collectibles through a separate venture known as K2 Gift Co,

K2 Greetings is run by cousins Katie Pennington and Kurt Abbott from the back room of a newsagents’ shop in 2003 but it now has a turnover of £2m supplying around 1,000 customers and employing 25 staff. The firm said that Party Paws is now its biggest-selling range and that it is targeting £1m turnover for the gift company within its first year of trading.

Kurt Abbott, managing director of K2 Greetings Cards, said: “Party Paws continues to be our most successful range and we believe there is a real opportunity to create a new, vibrant collection of gifts for every occasion based upon this brand.

“The feedback we have received from retailers has been very encouraging and we look forward to introducing the range during the course of this year.”