Partner:BFS & MSIF
Programme:Northern Powerhouse Investment Fund
Liverpool-based nutritional snack company Nutry Nuts received a healthy cash injection as it looks to further expand its product range and sales reach.
Formed in 2016, the business was launched by brothers Tamas and Mario Niszler, who originally hail from Slovakia.
The entrepreneurial pair identified that whilst many nutritional snacks advertise their high protein content, this is often accompanied by a less healthy high sugar content. Nutry Nuts have hence taken the traditional peanut butter cup and created a nutritious, protein-rich snack that tastes great and is low in sugar content. Products are available online and through selected retail and distribution partners, including Amazon, and also benefit from being vegan friendly, gluten free and contain no palm oil.
Following the success of its original product, the company has received a £70,000 loan from NPIF – BFS & MSIF Microfinance, managed by MSIF in partnership with GC Business Finance and part of the Northern Powerhouse Investment Fund.
The funding which was supported by the governments Recovery Loan Scheme (RLS) will be used to enable the business to meet increased demand for existing products and support the marketing and promotion of two new flavours, dark chocolate and white chocolate.
Mario Niszler, Co-Founder at Nutry Nuts said: “It was a pleasure to work with Sue and George, we appreciate their help and patience all along the process. The funds helped us launch two new products and expand our business, it is a huge step for us”
Sue Chambers, AFM Investment Manager added: “We are delighted to have been able to support Tamas and Mario with their expansion. The brothers were great to work with and their chocolate peanut buttercup range tastes delicious!”
Sue Barnard, British Business Bank said: “We’re excited to be driving further growth in Liverpool, and it’s fantastic to see Nutry Nuts use this loan to not just meet demand, but expand its product offering and grow even further. We’re committed to supporting businesses like Nutry Nuts to achieve success and will continue to boost business growth in the Liverpool City Region and beyond in 2022.”
The Northern Powerhouse Investment Fund project, which is designed to boost SME growth in the North of England, is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The MSIF group of funds are managed by Alliance Fund Managers Limited which is regulated by the Financial Conduct Authority in the course of investment business. Financial Conduct Authority Registration Number is 180891.
BFS Funding Managers Limited is regulated by the Financial Conduct Authority as a Small Authorised UK AIFM under firm reference number 608682.
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