A Gloucestershire food business specialising in dietary requirements has benefitted from the Coronavirus Business Interruption Loan Scheme (CBILS) via accredited delivery partner SWIG Finance.
Award-winning Bay’s Kitchen creates sauces, soups, stocks and gravies which are specifically designed for people suffering from Irritable Bowel Syndrome (IBS), as well as people on Gluten Free, Dairy Free and Vegan diets. See the full range at www.bayskitchen.com
The loan, backed by Triodos Bank, will allow the business to expand their product lines, as well as create a brand-new sales and marketing role to support the business as it continues to grow.
Bay’s Kitchen, based in Cheltenham, began trading in 2018 and is the brainchild of CEO ‘Bay’ Burdett. Bay herself has suffered with IBS for many years, and following official diagnosis, Bay was advised to follow a Low FODMAP diet (find out more about FODMAPs at www.bayskitchen.com/low-fodmap-diet)
Bay realised that creating Low FODMAP meals from scratch was time consuming and there was a significant lack of Low FODMAP produce in the UK. At this point Bay decided to take matters into her own hands and create a business to fill the market gap.
Bay’s Kitchen products are certified as Low FODMAP and have been developed by trained chefs and dieticians to ensure their products taste great whilst addressing dietary concerns.
In 2019, the business was awarded Gold at the Free From Foods Awards for their Tomato & Basil Stir-in Sauce and they now have several national retailers on their books, including Ocado and Morrisons.
Bay’s mission going forward is to reduce the stigma around IBS. According to recent statistics, up to 1 in 5 UK residents now suffer from the condition.
We spoke to Ben Haynes, Commercial Director at Bay’s Kitchen, who said “When we initially approached our high street bank for a CBILS loan, they immediately said no without even speaking with us. It is great that SWIG takes the time to understand the business. I was impressed with the process, as it matched the entrepreneurial culture we have at Bay’s Kitchen. Our business manager Nicola was a delight to deal with, she really took the time to understand our journey and why we needed finance.”
SWIG’s business manager, Nicola Mapp commented “The impact of Bay’s Kitchen is incredibly far-reaching. Anyone with IBS, or similar conditions, will understand that there are many things that can trigger an ‘episode’, the main triggers are diet and stress. For the people who suffer, diet can be a main cause of stress – so reducing worry over diets has had a big impact on their customers lives”.
Matt Boggan, senior relationship manager at Triodos Bank UK, who provided a loan to SWIG to support funding such as this, added: “We’re proud to be supporting SWIG, alongside another likeminded organisations. Its aim to make finance more accessible and inclusive aligns closely with our own values, and we look forward to hearing more about the impact that SMEs like Bay’s Kitchen have in the South West.”
About SWIG Finance
SWIG Finance is the South West’s leading Community Development Financial Institution. We are passionate about bringing social and economic benefits to people and places in the South West.
We do this by providing support and finance to Start Ups and growing SMEs that can create and secure employment opportunities.
We lend from £10,000 to £250,000 available to South West SMEs who cannot access sufficient funding from their bank https://www.swigfinance.co.uk/funds-available/
the South West’s leading delivery partner for Start Up Loans UK, providing Start Up Loans from £500 – £25,000. For more information visit https://www.swigfinance.co.uk/start-up-loans/
For an informal discussion about your funding requirements, get in touch with our friendly and professional team to find out how we can help: [email protected] / 01872 227 932.