117-year-old Lincoln coffee business Stokes will take on a wholesale expansion at its Lawn HQ thanks to a six-figure funding package.
Stokes Tea & Coffee has been awarded a HSBC UK SME fund to boost its coffee and equipment trade, for products such as espresso machines and coffee grinders, as well as to increase its servicing offer.
The money will also be invested in the continued £2 million refurbishment of The Lawn.
It’s also the home of the company’s third cafe, offices and a variety of independent retailers and business owners.
A barista training centre is also now in full swing on the site, and the Blue Room theatre boasts a regularly packed programme of events.
Director of Stokes Tea & Coffee Nick Peel said: “We’re continuing to see increasing demand for quality tea and coffee and we’re perfectly placed to support the industry with our wholesale and service business.
“Thanks to the support of our HSBC UK Relationship Manager Dave Benson, we’ll be able to stock more products as well as increase the number of installations, maintenance and training workshops we carry out.”
Paul Armstrong, Lincolnshire Business Banking Area Director for HSBC UK added: “Stokes Tea & Coffee has had a busy two years following the opening of its third cafe at The Lawn.
“We were able to provide a flexible finance package to support the business with its ambitious expansion plans and we look forward to supporting Nick and his team as they grow their wholesale and services operations.”
The deal is part of HSBC UK’s £1.1 billion lending fund to support small and medium-sized enterprises.
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