Paper bag manufacturer, Badalov, is set to grow in 2017 and beyond after securing £480,000 invoice finance facility with Bibby Financial Services (BFS).
Founded in 2006, Badalov began with a vision to increase sustainability in the food packaging industry whilst keeping affordability at the forefront of its offering for customers.
The manufacturer operates from a plant in Larkfield, Kent, and offers a variety of bio-degradable paper bag products with and without branding. The business has notable clients such as Pasta Remoli and Virgin Active to its portfolio.
With sales in full flow, Badalov were in need of a funding partner that was able to provide funds quickly and efficiently. At this point, the business turned to BFS who were able to demonstrate manufacturing expertise and a desire to work with the business to help facilitate growth.
Vasif Badalov, Managing Director, Badalov explained: “As we continued to gain new contracts, our previous funding partner became unable to help support our business needs.
“We really needed a funding partner that understood our business and its trading cycle. Having operated in our industry for over 16 years, we know our growth targets and what we can achieve and BFS understood this too. They have vast industry expertise and knew our commercial potential.
“With this flexible funding in place, we can continue to expand our product range and meet the growing demands of our customers.”
Dean Corth, Relationship Manager at Bibby Financial Services commented: “Badalov is an exciting growing business that is at the forefront of sustainable paper packaging and we’re delighted to work with a business that puts sustainability as a priority”
“Prior to funding, we assessed the business needs and aspirations and found that financial restrictions were limiting the potential of the company. We stepped in and offered a funding injection to allow Badalov to operate freely.”