LDF has provided £35,000 of finance to London-based coffee company Alchemy.
Alchemy used the funds provided by LDF to purchase and restore a vintage coffee roaster, and cover the cost of its import from Germany.
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Alchemy turned to LDF after being rejected by traditional lenders, and received the required finance.
Joe O’Hara, owner of Alchemy, said: “Having looked at various other options and weighing up the cost implications, we had no choice but to buy an older piece and have it refurbished and shipped from Germany.
“Several banks that we applied to for support just didn’t understand why we would want to buy and 85 year old roaster…Our whole business is based on this kind of heritage and quality, and so we were turned down.”
Peter Alderson, managing director of LDF said: “Recent research we conducted shows that over half of small to medium sized businesses find banks unhelpful.
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By GlobalData“At LDF we are set up to help businesses like Alchemy, and work with them to understand their business and requirements to ensure we’re offering the best advice and financial support for their needs.”
