MEIF Debt Finance supports Derbyshire brewery with £150,000 funding package
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Maven Capital Partners continues to fuel growth plans of many regional businesses across the East & South East Midlands via the MEIF Debt Funds.
The Midlands Engine Investment Fund Debt Finance fund, managed by Maven, has provided local brewery business Howard Town Brewery a £150,0000 funding package under the Coronavirus Business Interruption Loan Scheme (CBILS). This recent cash injection will enable the business to create new skilled jobs and help with the launch of new products to market.
Glossop based Howard Town Brewery is an award-winning brewery that produces a wide selection of cask beers under the Howard Town brand and craft beers under the Distant Hills brand. The business also has its own public tap room at the brewery but supplies its signature beers across many pubs, bars and restaurants in Derbyshire, Greater Manchester, Lancashire, Yorkshire and Cheshire.
The £150,000 growth loan via CBILS, will allow the business to create five new jobs within its hospitality and sales division, deploy a new social media marketing strategy and further develop the new range of craft beers sold under its Distant Hills brand.
Howard Town Brewery is a great example of an SME which is on course for growth following the pandemic and which Maven aims to support via the MEIF Debt Funds. Other companies seeking funding to execute expansion plans that contribute to regional economic growth as well as contribute to job creation for the local area are businesses can contact Maven to find out if they are eligible to apply for funding
Jonathan Lowe, Investment Director for Maven comments: “Many businesses in 2020 have been affected greatly by the challenges brought about by Coronavirus, having said this I am pleased to have been able to assist Howard Town Brewery with this funding package to enable them to achieve their growth plans in 2021 and beyond.”
Jason Greenway, Chairman for Howard Town Brewery highlights: “We’re delighted to have secured the loan. It provides the business with certainly going forward and enables the team to now push forward with our exciting plans to grow the business."