A Lincolnshire tea and coffee merchant has secured a six-figure finance package from HSBC UK to expand its wholesale business and service division.
Stokes Tea & Coffee, which has three cafés in Lincoln, where it roasts and blends its own coffee, will use the HSBC UK finance to expand its wholesale business, which includes the provision of fine tea and coffee and equipment such as espresso machines, coffee grinders and filter machines.
The coffee merchant will also increase its services business which manages the installation and maintenance of equipment and barista training.
The business will also continue to refurbish its company headquarters at The Lawn, which it opened two years ago at the former psychiatric hospital in Lincoln after it had outgrown its premises in Mint Lane.
The larger site also houses its wholesale department, barista training centre, Blue Room Theatre and Cafe
Nick Peel, Director of Stokes Tea & Coffee, 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, David Benson, we’ll be able to stock more products as well as increase the number of installations, maintenance and training workshops we carry out.
“We look forward to expanding the wholesale business and continuing to provide delicious tea and coffee for our customers across our Lincolnshire cafés.”
Paul Armstrong, Lincolnshire Business Banking Area Director, HSBC UK said: “Stokes Tea & Coffee has had a busy two years following the opening of its third café 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.”