A £2million credit package from Lloyds, secured on the wholesaler’s launch, has enabled it to source in bulk and that support has been a key factor in the fast expansion, explains managing director Marcus Welch who worked with the bank during a previous business. “It was the one that understood us and our ambitions,” he explains. “Having access to the lines of credit meant we could start out on the right path and invest in our growth from the start.”
Ozgur Tarim’s roots lie in a 30-year-old Turkey-based company working in the UK with another supplier.
“Then we took the decision to set up here so we could do everything ourselves,” adds Mr Welch who now employs seven staff.
The sultanas, raisins, apricots and currants supplying manufacturers and bakers come from all corners of Europe, South Africa, America and the Far East for despatch to manufacturers and bakers.
Lloyds’ backing has also helped the company deal with an array of currencies through foreign exchange payments and clearing services as well as fund extra stock in the face of Brexit uncertainties.
Demand for dried fruits is broadly static in the UK and going forward Ozgur Tarim plans to continue expansion by taking a larger slice of the market and diversifying with new lines of tropical fruits from South Africa and Chile.
Lloyds commercial banking relationship director Jon Sedgwick added: “We pledged to lend £1.7billion to local businesses in 2019 and look forward to lending to many more. Supporting young businesses is a key part of our commitment to helping Britain prosper.”