Sweet deal for candy hero with expansion loan
A Yorkshire-based sweet company has expanded its product range after raising £50,000 from investors.
Candy Hero, a sweet importer and retailer with stores in Bradford, York and Leeds, raised the finance with a loan from peer-to-business lender, rebuildingsociety.
The cash was used to increase the company’s stock of candy, which is imported from around the world, after a surge in demand from customers both in store and online.
rebuildingsociety enables individuals to lend varying amounts of money - starting from just £10 - to established UK businesses. Companies make monthly payments to rebuildingsociety, which acts as an administrator on behalf of its lenders.
Frank Dillon, joint owner of Candy Hero with his brother Leo, said: "We've noticed an explosion recently in the demand for the sweets that we import from around the world, especially American candy, which is due to widespread product awareness through television and the media.
"We have three stores at the moment in Bradford, York and Leeds and we're looking to expand further."
Rick Hyland, rebuildingsociety's business development manager, said: "Everyone loves sweets, especially unusual ones, so Candy Hero was a popular auction, with over 200 people opting to lend money."