Dewsbury furniture manufacturer Jay-Be secures £2.5m funding package
UK Export Finance (UKEF), a government department which exists to help UK firms help firms with export contracts, provided support for the bed and mattress specialist by issuing a General Export Facility loan guarantee.
Already a supplier to high street names like John Lewis, Bensons for Beds and Next, Jay-Be began exporting in 2012 and now serves customers in more than 15 countries. Using the funding, It now hopes to ramp up its international sales
Roger Durrans, CEO of Jay-Be, said: “We are extremely appreciative of Santander UK and UK Export Finance for this support. Our journey into international markets over the past few years has presented its share of challenges, but achieving the export of our beds and mattresses overseas is an accomplishment of which we are very proud.”
Based in Ravensthorpe, Dewsbury, Jay-Be designs and makes all of its products in the UK. The loan will enable the firm to continue its export growth by extending its next-day delivery service to overseas regions where it operates.
The General Export Facility loan is designed for existing or prospective UK exporters, and enables smaller firms to access up to £25 million in trade finance without a specific export contract.