Dreamtex Ltd, an award-winning designer of home textile products, has agreed a £2million invoice and trade financing facility with a specialist lender and savings bank.
Aldermore has been supporting Lancashire-based Dreamtex’s financing needs since it was launched in 2012.
Dreamtex, based in Chorley, creates licensed home textile products such as bedlinen, towels, cushions and fleece blankets.
It has working relationships with major entertainment companies such as Universal Studios, the BBC, DHX Media and Ubisoft and develops home textiles for brands such as Paddington Bear, In the Night Garden, Jurassic World and Ghostbusters.
Dreamtex’s workforce consists of eight members of staff.
Its products are sold by a wide range of high-profile retail outlets such as Argos, Amazon, Asda, Primark, Tesco, B&Q, Debenhams and Claire’s.
Dreamtex is planning to use the funding from Aldermore to invest in products and materials and support its cash flow.
The company aims to further grow its successful business and gain market share by signing the most popular licenses and producing good designs on quality products for the UK and Ireland, while ensuring it meets international ethical standards by working with Sedex and Oeko-Tex.
Anthony Duckworth, managing director at Dreamtex, said: “We have worked with Aldermore now for four years and have been very pleased with the level of service and dedication the team have given to Dreamtex.
“It has certainly made our job of managing the debtors ledger and credit control a lot easier.
“They were able to support our business through a very busy period, resulting in rapid growth, and they provided a brand new facility built around our business’s needs in a very short amount of time.”
Andrew Dixon, commercial director for Specialist Finance at Aldermore, said: “The experienced management team and strong business plan made Dreamtex an attractive company for us to support.
“We’re pleased to have been able to help the company to grow over the years by providing the finance they need.”