Six-figure funding secured for produce wholesaler

A £250,000 funding deal has been secured for Prime Global Trade, part of the rapidly growing Tuber Produce Group, based in Hessle, East Yorkshire.

Prime Global Trade Ltd specialises in  sourcing wild bird feed, nuts, avocados, exotic fruit and vegetables from around the world.

The company called in Phil Truman from Reach Commercial Finance to help with funding imports of fresh produce from Africa, the Middle East and Asia.

The supply chains for these imports were facing problems caused by both Brexit and pandemic-related disruption.

Reach brokered a six-figure, two-month invoice finance deal, working closely with an independent lender.

Phil Trueman, of Reach Commercial Finance, led the deal. He said: “We know the business well and having worked on a number of existing facilities we took the lead on recommendations for this issue, ensuring minimum work for the client.

“Tuber Produce is a global client enjoying rapid growth. It is great to be involved in supporting their journey.”

Steve Humphrey, managing director of Tuber Group, said: “The food industry needs experts in organisations like Reach to think creatively and come up with solutions to large-scale changes, well beyond our control, to keep our operations running smoothly.

“Being familiar with the business makes this easier for them to do  – they are always on hand to support us when we need it.”

Reach Commercial Finance is an independent financial brokerage of Leonard Curtis Business Solutions Group.