Amicus Commercial Finance has agreed a Confidential Invoice Discounting facility to help Piglet’s Pantry facilitate its substantial growth. The finance will be used to provide vital working capital to plug the cash flow gap created by rapidly increasing new business volumes.
Set up in 2011, Piglet’s Pantry is a manufacturer of tasty, hand-filled gourmet pies and baked goods. The company has secured major contracts with some of the largest catering companies in the world, including Compass Group PLC and Sodexo, while fast becoming the pie of choice in the football world.
John Wilde, Managing Director of Amicus Commercial Finance, commented: “Piglet’s Pantry is an ambitious and fast growing business and one that we’re pleased to be able to help continue along its successful growth path. Like many other owner managed businesses, they found the red tape and rule book approach applied by conventional banks to be a little too restrictive and unresponsive for their needs.”
Joanna Hunter, Founder and Managing Director at Piglet’s Pantry, said: “We have always adopted a strong partnership approach, working closely with our clients to develop products that fit their specific brand and this was reflected directly in the approach taken by Amicus Commercial Finance. The fact that the Managing Director called me personally to ask me how the facility was working was really impressive and a testament to the personal approach that runs throughout the business.”
The flexible funding provided by Amicus Commercial Finance is supplemented by Amicus’ Intelligent Cashflow service, providing Piglet’s Pantry not only with immediate visibility of the funds, but also quick access to them.
Joanne Hunter added: “Scheduling updates couldn’t be easier and we can view our cash availability anywhere in the world. Great technology is one thing, great backup is another. Now, with the help of the flexible funding we have secured from Amicus, we are looking to double the size of our business.”