Naughty Knickers to expand with funding
Newcastle-based Naughty Knickers has secured a £50,000 finance facility to help double its turnover over the next 12 months.
The lingerie wholesaler, which was established by Sarah Northey, first started selling directly to consumers via its website prior to expanding into the wholesale sector a year later.
The company has built up a client portfolio including ASOS, Figleaves and Coco de Mer.
Managing director Sarah Northey said: "To take the business to the next level we needed more cash available to invest in the business and felt that invoice finance was the perfect solution for us as the funding will increase as we grow."
Invoice finance specialists Positive Cashflow Finance has provided the money.
David Smith, managing director at Positive, praised the company for its "enviable client base" and Sarah's "ambitious nature.
Positive is an independent invoice finance provider with offices in Manchester and Birmingham offering facilities from £10,000 to £1m.