Cornish Vegan chocolate brand, Push Chocolate, has had a funding boost to support its market launch following a rebranding exercise.
The five-figure loan from SWIG Finance, with the backing of British Business Bank’s Recovery Loan Scheme, will be used to support the PR and photography for their market launch and an ongoing marketing campaign which will be undertaken by a digital marketing agency.
Based in St Austell, Push Chocolate is led by entrepreneur Ant Wilson, a self-confessed chocoholic. Ant’s love affair with chocolate began when he was a child, but as he became more health conscious he knew he needed to do something to combat his sugar fix in a healthier way.
Ant decided to try making his own chocolate using vegan ingredients and the resounding positive feedback he received led him to begin his business journey.
Based on the motto “better chocolate for you, the environment and to put a smile on your face”, Push Chocolate is vegan with 50% less sugar than normal chocolate. The recipe uses plant-based protein and is free from all 14 major food allergens. Furthermore, it contains no palm oil and uses all natural ingredients with the cocoa sustainably sourced from Peru. The products are packaged in plastic free, recyclable pouches.
The chocolate appeals to vegan and health conscious consumers as well as people who suffer from major food allergies.
Ant was introduced to SWIG through Jackie George at local partner organisation Access to Finance.
SWIG’s business manager, Rachel Thomson, supported Ant’s application by helping him with his cashflow forecast and business case.
Push Chocolate has ambitious growth plans which will help create local employment as well as positive environmental impacts.
The brand is environmentally conscious and has plans to further develop sustainability aspects to become plastic negative – although they have already eliminated plastics from their product packaging, they are aware that plastics can still be found in their supply chain. They also intend on supporting plastic negative charities so that they can help reduce plastic pollution on a global scale.
Of the funding Ant said “As with any funding application, there are many hurdles however, my business manager Rachel was able to help me refine my rationale for funding which was crucial. Without this funding I would have needed to go down other finance routes, such as crowdfunding or equity finance, both routes take a long time to execute. With this funding in place, I can roll out our rebrand at a quicker pace and subsequently I can sell my products faster”.
Business manager Rachel commented “Push Chocolate is a great product and an exciting business to watch. The product itself is solving a problem that many people have not yet thought of, and more than that, Push Chocolate really cares about the environment. We are looking forward to seeing how the brand evolves over time”.
About SWIG Finance
SWIG Finance supports SMEs who are unable to secure funding from mainstream lenders. By empowering underserved businesses in the region to overcome their financial barriers, we are working to create a balanced financial eco-system.
We are passionate about bringing social and economic benefits to people and places. We do this by providing support and finance to Start Ups and growing SMEs that can create and secure employment opportunities.
As the South West’s leading delivery partner for Start Up Loans UK, we can provide Start Up Loans from £500 – £25,000. For more information visit https://www.swigfinance.co.uk/start-up-loans/
We also have business loans from £25,001 to £250,000 available to South West SMEs who cannot access sufficient funding from their bank https://www.swigfinance.co.uk/business-loans/
If you would like to have an informal discussion about your funding requirements, get in touch with our friendly and professional team to find out how we can help: firstname.lastname@example.org / 01872 227 930.
Legal Notice: The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit https://www.british-business-bank.co.uk/finance-hub/recovery-loan-scheme/