Firetree Chocolate secures £250k loan as demand for bean-to-bar increases
Firetree said it has secured the finance from The FSE Group Debt Finance Fund, part of the Midlands Engine Investment Fund (MEIF) and backed by the government’s Coronavirus Business Interruption Loan Scheme (CBILS).
Firetree Chocolate is a bean-to-bar premium craft chocolate manufacturer that sources its cocoa beans direct from farmers in the remote volcanic islands of the South Pacific and Madagascar, where the volcanic minerals produce a unique bean and taste.
The beans are imported to the UK and crafted into chocolate by expert chocolatiers at its Lincolnshire factory, before being wrapped in packaging depicting the volcanoes from where the beans were sourced.
David Zulman, Co-Founder and Managing Director of Firetree Chocolate said: “Although Firetree, along with other businesses, has been operating differently during the pandemic, we have adjusted well to the new normal and are encouraged to see demand for our product increasing. We take immense pride in what we do, working closely and directly with our farmers and creating single estate super-premium quality chocolate to delight our consumers.”
Paul Lynam, Fund Manager, at The FSE Group, which manages the MEIF Debt Finance Fund said: “We are proud to have supported Firetree throughout this process. The loan will support David and the team in their ambitions to continue to develop the brand and increase sales into 2021 and beyond. The FSE Group is committed to providing finance for innovative Midlands-based businesses and we wish them well for the future.”
Firetree Chocolate’s products are all dairy free and suitable for Vegans, Halal, Kosher and those with lactose intolerance.