Children’s clothing brand Character secures £ 3million loan from UK Export Finance
The EGF allows the UK government to guarantee up to 80 percent of a facility offered by a bank to finance exports.
The Swansea-based clothing company exports children’s clothing and accessories around the world with recognizable characters from movies and TV shows such as Harry Potter, Star Wars and Peppa Pig, and their own brand Harry Bear. It is one of the fastest growing companies in Wales with an annual turnover of over £ 50million. Character.com exports its products to markets around the world, including Europe and North America.
“The opportunity that collaboration brings to Character.com is central to our ambitious and exciting growth trajectory. It helps us and other organizations to put Wales on the map as a strong competitor in the export market. We look forward to working with the Barclays and UKEF team as we realize our growth potential around the world ”, Helen Morgan, Chief Financial Officer of Character.com said in a statement.
Minister of Exports, Graham Stuart MP, said: “I am delighted that Character.com is the first of many Welsh companies to take advantage of GEF. The GEF is a game-changer for UKEF, making it faster and easier for SMEs to access government-backed finance to help them increase their export capacity.
Fibre2Fashion Information Office (KD)
Character.com, an exporter of character-themed children’s clothing, benefited from the new General Export Facility (GEF) of UK Export Finance, securing a £ 3million commercial loan facility through the intermediary of Barclays. The financing will help the company optimize its growth strategy. The GEF aims to support SMEs in the development of their business activities.