Time Finance has provided a £250,000 invoice finance facility to support the expansion of Salford-based craft brewer Seven Bro7hers Brewing Co as it scales production following a new supply agreement with pub chain JD Wetherspoon.
The facility has been structured to help the family-run brewery increase output after securing a deal to supply Wetherspoon venues nationwide.
The funding will allow the business to unlock cash tied up in unpaid invoices, giving it immediate access to working capital as production ramps up.
According to Time Finance, the flexible facility will grow alongside sales volumes, enabling the brewery to fund brewing runs, purchase raw materials and expand operational capacity without placing strain on day-to-day cashflow.
BREWPUBS AND BARS
Founded in 2014 by seven brothers, Seven Bro7hers has built a strong reputation for craft ales inspired by traditional brewing techniques and modern flavour trends. The business already supplies a number of major UK supermarkets and operates brewpubs and bars across the North West.
Rob Walters (main picture, left), business development manager at Time Finance, says: “Seven Bro7hers is a perfect example of a thriving and healthy regional business able to sit in the driving seat of their growth plans and take advantage of new opportunities, with an invoice finance facility that allows them immediate access to their own capital.
“When Keith, one of its founders, came to us with this new business contract, he had a short window of just a few months to enable the exciting growth plans, so we needed to move quickly. We were able to set up a disclosed invoice finance facility in a short timeframe to give the business the quick access to the cash it needed to service this incredible pub group contract.”
GAME-CHANGER
Keith McAvoy (main picture right), founder and chief executive of Seven Bro7hers, says: “For a family-run brewery like ours, securing a national listing of this scale is genuinely game-changing, particularly after a challenging year for the industry. It allows us to put Seven Bro7hers beers in front of drinkers right across the UK, while staying true to who we are and where we’re from.
“As with any growing business, managing unpaid invoices can be a headache and a hit to your cashflow, and with this facility from Time Finance we’ve been able to double our production, and cover the upfront costs associated with this major new listing – from the cost of pump instillation, glassware, brewing, barrels and storage.”
HUGE MOMENT
He adds: “We currently have a range of 10 different ales and we also have the capacity to create up to 30 individual ales.
“We’ve operated brewpubs and bars across the North West for a decade now, while also supplying nearly all the major supermarkets in the UK, and our expansion to stock this UK pub group is a huge moment for our business – and for all seven brothers.”
