What is Food Finance?

We understand the intricacies and needs of food finance for both small and large food companies that focus on customers, vendors and suppliers throughout the sector.

Food Finance

Our team has the ability to work across the spectrum in the food industry and are dedicated to structuring a food financing package that is tailored to your individual requirements. We work to provide a number of options depending on the asset, such as finance and operating leases, hire purchase, as well as funding for asset-backed mergers and acquisitions, including relocation and factory refurbishment. Our strength within the industry allows us to assist you to progress with your business.

Please note, we cannot finance perishable food stock.

Types of Food

Key food types include:

Maize
Wheat
Rice
Drinks
Seeds
Nuts
Salts
Cattle
Chocolate
Sugar
Seaweed
Cereal

Trade Finance Requirements

Your business is looking for £50k+ trade finance
You want to import or export stock and have suppliers/ buyers
Your business is creditworthy
Your business trades non-perishable food stock

How the transaction works

When a business wants to trade internationally, the exporter would typically want to be paid up front by the importer. The bank would issue a Letter of Credit, which guarantees this payment to the exporter upon receipt of documentary proof that the goods have been shipped. This is then repaid once the importer has paid for the goods, which could be anything between 1-6 months later.

What is the SIC Code for Food Finance?

The SIC Code is 10 (Manufacture of Food Products)

Other SIC Codes that could also be used are:

10320 Manufacture of fruit and vegetable juice
10390 Other processing and preserving of fruit and vegetables
10410 Manufacture of oils and fats
10420 Manufacture of margarine and similar edible fats
10511 Liquid milk and cream production
10512 Butter and cheese production
10519 Manufacture of other milk products
10520 Manufacture of ice cream
10612 Manufacture of breakfast cereals and cereals-based food
10620 Manufacture of starches and starch products
10710 Manufacture of bread; manufacture of fresh pastry goods and cakes
10720 Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes
10730 Manufacture of macaroni, noodles, couscous and similar farinaceous products
10810 Manufacture of sugar
10821 Manufacture of cocoa and chocolate confectionery
10822 Manufacture of sugar confectionery

Food finance, sweets, funding for business, sweets finance, import and export finance

Case Study

Food Distribution Company, Manchester

A small company situated in Salford that distributes food to UK retail from US manufacturers was rapidly expanding. The client required a facility to expand their business and go into more retail chains; having confirmed orders that they could not finance. They were assisted with creating an import facility which has grown as the business expands.