Universal Supply Chain & Solutions received funding from First Enterprise – Enterprise Loans through the Midlands Engine Investment Fund (MEIF) and the Community Investment Enterprise Facility (CIEF) backed by the Recovery Loan Scheme (RLS).This funding marked the 100th MEIF loan issued by First Enterprise – Enterprise Loans.
The business provides packaging solutions for manufacturers and retailers of general consumer goods, and soon, ambient food items. The company has established strong links with a well-known UK manufacturer of dry foods, which has resulted in the company being selected to package much of their range.
The current customer base includes brand names such as Bayliss and Harding, John Lewis, Sainsburys, Asda, Waitrose, B&Q and Aldi. Prakash Mistry, director, and owner of the company, is delighted to have secured the funding, allowing the completion of the packaging line.
With the new Recovery Loan Scheme funding, an additional packaging line involving dry fruits will enable a stable revenue stream and allow for further contracts to be taken on.
Stefan Nycz, business adviser at First Enterprise – Enterprise Loans, commented:
The supply chain and logistics sector has seen a significant increase in activity especially since there has been an increase in demand at supermarkets and for online retail. USCS already has some big names in its customers base, but this funding will allow the company to leverage even bigger contracts and launch new product lines. We at First Enterprise, are very pleased to be supporting this move and are confident the company will continue to excel into the future.