UK-based speciality tea firm English Tea Shop has received £2.5 million in funding from HSBC UK, which will support the company’s “ambitious” growth strategy.
English Tea Shop creates and markets a range of artisan teas in the UK, sourcing organic teas, herbs, flowers, fruits and spices from small organic farmers in Sri Lanka and 20 other countries.
This financial package was allocated as part of HSBC UK’s £14 million lending fund to support SMEs in the UK, and this represents the second time that English Tea Shop has received financial backing from the bank.
In 2018, the firm received £1.45 million in financing to increase its importing capabilities in order to stimulate growth.
According to the English Tea Shop, this latest financial package will support the release of new product lines, allow the company to expand its presence in international markets and enable the creation of new packaging designs.
Suranga Herath, CEO of English Tea Shop, said: “Our journey to date is testament to the power of achieving growth by focusing on sustainable initiatives that simultaneously improve business performance. It’s fantastic to see this being recognised by HSBC UK.
“The bank’s funding has helped us to invest in more resource internationally and paved the way for major strategic milestones, such as the launch of our unique ESOP scheme earlier in the year and our rebrand which signifies a new chapter for English Tea Shop.”
David Skipp, HSBC UK’s area director for Cambridge, Essex and Suffolk business banking, added: “English Tea Shop has continued to have a genuine impact on the lives of those working across the supply chain in its industry. In 2017/2018 alone, it directly helped 1,352 organic farming families, and improved the lives of over 3,000 farming families in Sri Lanka and worldwide through an investment of over $186k across numerous initiatives and projects.
“Combined with the company’s commercial growth, its social impact is what stood out about English Tea Shop and highlighted its potential for even more success in the future. We’re delighted to play a part in enabling the company to continue to benefit communities – and increase our global footprint.”
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