Ferguson Whisky Restricted, a Glasgow-based firm specialising in uncommon whisky funding alternatives, has secured a £450,000 funding bundle from Virgin Cash, backed by UK Export Finance (UKEF).
The funding will assist the acquisition of whisky inventory, enabling the corporate to increase operations and meet rising worldwide demand.
Based in 2021 by CEO David Ferguson, the corporate goals to make the world of uncommon whisky accumulating extra accessible. Ferguson Whisky presents a spread of companies, together with funding in new make whisky or aged inventory, and offers assist by way of the bottling course of. The corporate has established robust relationships with main Scottish distillers and has partnerships with Brindiamo Group within the US bourbon market and Bravo Whisky Golf within the luxurious journey sector. These connections permit Ferguson Whisky to supply uncommon casks and arrange unique experiences corresponding to distillery excursions and bespoke whisky occasions.
Virgin Cash’s Industrial and Commerce Finance groups collaborated with UKEF to construction a deal tailor-made to Ferguson Whisky’s wants. UKEF supported the financial institution by issuing a Normal Export Facility (GEF) mortgage assure, overlaying 80% of the financing and enabling Virgin Cash to finish the transaction. The GEF is a versatile government-supported scheme designed to assist UK export companies, notably SMEs, entry working capital amenities to enhance money move and speed up worldwide commerce progress.
David Ferguson, Founder and CEO of Ferguson Whisky Restricted, stated: “We are an independent blender and bottler providing end-to-end whisky services from cask to bottle for customers all over the world. The support from Virgin Money, with backing from UK Export Finance, will ensure that we can continue to accelerate business growth internationally and attract more whisky consumers to visit Scotland.”
Craig Wilson, Head of FX Gross sales & Commerce Finance at Virgin Cash, added: “We are delighted to be working with David and his team to support their rapid and successful business growth. Their business needs a bank that can truly support international trading, and we are honored that they selected Virgin Money as their banking partner.”
Carol Harvey, UKEF Export Finance Supervisor for Scotland, concluded: “This deal is a great example of how UK Export Finance can help support small businesses in Scotland. With the Scottish Whisky Awards being held in Glasgow at the end of this month, I couldn’t think of a more apt opportunity to toast to Ferguson Whisky’s success.”
