Eureka Produce, a supplier of fresh produce and catering supplies to leading hotels and restaurants based in Wellingborough, Northamptonshire, has announced that it has agreed a new finance facility worth £500,000 with Aldermore, the specialist bank.

Established in 2009 by industry expert Robert Hudson, Eureka Produce has grown rapidly since launch. The young and vibrant business, which is independently-owned, has seen a £3.2 million growth in sales over the last seven years.

The company employs more than 40 staff members and the new funding from Aldermore will allow Eureka to bring on additional employees in the future.

Robert Hudson, Managing Director at Eureka Produce, said: “Eureka has gone from strength to strength since launch, however we took the decision to move finance providers as our existing lender could not offer the financial support we needed to maintain our trajectory.

“Aldermore has demonstrated great agility and flexibility, as well as a sound understanding of our business and sector. They created a bespoke funding solution which aligns perfectly with our business plan, and the deal only took three weeks from conception to completion. The support from the Bank has meant we will be able to continue to grow, as we look to further increase our market share and fulfil our potential as a business.”

Stefan Radymski, Business Development Manager, Invoice Finance, at Aldermore, said: “Eureka Produce was established in the same year as Aldermore and is precisely the type of business that we were established to help. It has demonstrated impressive growth and we are thrilled to playing a part in its journey.

“At Aldermore, we pride ourselves on our in-depth understanding of the sectors we lend to, as well as our ability to support a wide range of SMEs with bespoke solutions at pace.”