Faith in Nature gains £2.5 million in funding
Vegan beauty company maker Faith in Nature has secured a £2.5 million boost in funding, enabling the company to move to a new manufacturing and business premises.
The new facility is located in Manchester and provides space for future sales growth and new employees.
The loan to Faith in Nature was provided by Cynergy Bank and structured with a 12-month interest only period followed by repayment profile.
Faith in Nature was founded in 1974 in a cottage kitchen and initially produced plant-based face creams and shampoos. Last year the company expanded its range with a new Shea & Argan hair and body collection.
Matt Cross, Relationship Director, Cynergy Bank, commented: “I am delighted to support Faith in Nature with loan funding for their new business premises. It was evident from my initial site visit that the business had outgrown their longstanding factory. The business continues to grow and it’s exciting to be involved in this environmentally focused enterprise. They aim to achieve BREEAM Outstanding on their new premises which is an impressive target. This considers energy efficiency and sustainably of the build to aim for top 1% within the country."
John Allaway, Managing Director, Faith in Nature, added: “We have been working with Cynergy Bank for a number of years and have found them understanding and collaborative during our challenging journey. It’s good to work with a bank with the same entrepreneurial mindset and with people who put in the extra effort to support the business at the critical pinch points."