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Skipton Business Finance has reaffirmed its commitment to supporting the UK’s growing independent business sector by providing a six-figure invoice finance facility to Sheffield based distributors of luxury and niche fragrances, SG Brands.
Founded by Samuel Gearing in 2019, the business is known for supplying fine and independent fragrance labels to prestigious retailers such as Liberty and Fortnum & Mason. The invoice factoring facility will support the businesses growth plans by enabling it to purchase stock from brand holders, strengthen supplier partnerships and expand distribution across a broader retail network.
It will also allow the business to invest in new opportunities with heritage names such Portuguese beauty brand, Benamôr and French fragrance house, Bienaimé, helping to confidently respond to rising customer demand.
Samuel Gearing, director at SG Brands, said: “Securing the funding from Skipton Business Finance is a pivotal moment for SG Brands. It gives us the capacity to scale our stockholding and develop relationships with our brand partners.”
“We chose to work with Skipton not just because of their flexible funding model, but because they took the time to understand our business and what makes it special. Their support means we can now pursue our growth plans with greater certainty and ambition.”
Skipton Business Finance provides invoice factoring and invoice discounting solutions tailored for SMEs across a range of sectors.
Jim Furey, regional sales director for the North West and Midlands, said: “We’re delighted to support SG Brands at the start of this exciting growth chapter. Samuel and his team have built a distinctive and highly respected business in the fine fragrance sector, and our funding will enable them to respond to increasing demand while safeguarding the operational ability of the company.”
“At Skipton, we work with an incredibly diverse client base, from traditional industries to innovative niche sectors, and SG Brands is a great example of that range. We’re proud to be backing them through this period of growth and looking forward to being on that journey with them.”
This deal between Skipton and SG Brands was introduced by Mark Millhouse from Oldham-based PMD Business Finance.