A £200,000 NPIF loan has enabled a wholesale distributor of nutrition and sports supplements in York boost turnover by 40%.
Power Body Nutrition has used the funding to scale up its stock purchase and upgrade to a new IT system, which has helped the business grow turnover by 40% in the 18 months after the investment.
In addition to this, the company has taken on an additional 11 members of staff, bringing the total headcount to 46.
Following this growth period, Power Body Nutrition said it is looking to diversify its product range as it looks to enter the vitamin supplement market.
It is building its own bespoke stocking system, which it plans to sell to other wholesalers and distributors to assist with large orders and deliveries.
The funding comes from NPIF – Mercia Debt Finance, part of the Northern Powerhouse Investment Fund.
Sean Hutchinson, Senior Manager at British Business Bank, said: “Power Body Nutrition exemplifies a great NPIF investment.
“In the time we’ve been working with the company, it has helped boost the local economy by achieving double-digit turnover growth and creating 11 new jobs in the York region.”
Ian Atkinson, Investment Manager at Mercia Debt Finance, said: “Diversifying the product range and attracting new talent has certainly paid off for Power Body Nutrition.
“Following the success of the initial investment, it now has the opportunity to tap into new revenue streams within the wholesale market.”
David Dickson, Chair of the Infrastructure Board for the York, North Yorkshire and East Riding Enterprise Partnership, said: “Power Body Nutrition is an excellent business that has made huge strides since NPIF invested.
“With the support from the York, North Yorkshire and East Riding LEP, SME’s in our region can grow through our support programmes, and Power Body Nutrition is sending out a message to encourage those who have the ambition to succeed, but need help along the way.
“We urge businesses to visit the Growth Hub and take advantage of the support available through the How’s Business structure.”