A family-run Hungarian food and drinks company in Ceredigion has received a £20,000 loan from the Development Bank of Wales to help them to grow their business and meet the public demand for healthy and organic food.
Mother and son duo, Monika Gyenes and Zoltan Kopacsi, are the owners of wholesale food store Best of Hungary based in Ceredigion.
Having lived in Wales for the past 12 years, they bring premium quality Hungarian fine food and wine from the heartland of Hungary straight to their customers’ doorstep.
Zoltan Kopacsi, Managing Director, looks after the day-to-day running of the business as well as online and wholesale operations.
He took advantage of the fast-track plus facility the Development Bank offers to secure the loan that will fund social media and digital advertising, as well as a new van for deliveries and recruitment of additional staff.
Fast-track plus is a new service from the Development Bank offered to businesses that have been trading for two years or more looking to borrow between £10,000 and £25,000. Applying for loans is easier and comes with less paperwork.
Zoltan said: “The process of applying for the loan was straight-forward and the Development Bank Investment Executive helped us throughout. Our application was evaluated quickly, and we received the funds within a fortnight of submitting our application.
“For a small business, it’s important to move quickly to take advantage of new opportunities, so having a quick decision meant that we have used some of the money to expand our range of international award winning Hungarian wines, and also to increase our stock after receiving 22 Great Taste Awards in August.”
Gaynor Morris, Investment Executive at the Development Bank of Wales said: “This is a great example of how the Wales Micro Loan Fund can help boost a small business and help owners hit the ground running. I’m looking forward to seeing how Best of Hungary develops, bringing more quality Hungarian produce to Wales.”