Newcastle-based innovative cold brew coffee company, Point Blank Cold Brew has secured a £25,000 loan from the Finance for Business North East Microloan Fund, managed by Rivers Capital Partners.
With cold brew coffee becoming increasingly popular as an artisan product, Point Blank has created a brand and a product capable of competing globally with market leaders.
Point Blank is a natural energy drink that has no sugar, no fat, 1 calorie, no additives and no preservatives to give an instant and natural energy boost. The process involves brewing specialty grade ground coffee in cold water for an extended period and filtering. The result is a caffeinated product that is much smoother and less bitter than traditionally brewed coffee.
Headed up by founder and CEO Josh Thompson, early recognition of the potential of both the product and the brand meant that building the right team has been a priority for Point Blank. Josh immediately began to seek out people whose skills, experience and contacts would build the foundation required to ensure the success of a start-up company with global aspirations.
Having recently completed 12 months of consumer trials in the UK, Point Blank is attracting attention from national retailers, athletes, celebrities, customers, investors, and key industry players alike.
Colin Wilson, Finance Director for Point Blank commented, “The team are very excited by the possibilities for Point Blank and the amazing response we have had from customers and distributors since the launch of our ready to drink product in July 2016. We believe we have an excellent product and brand that ticks all the boxes for a natural energy drink.”
The Microloan funding has helped to finance the early production runs and distribution of samples. The loan process was made easy by the team at Rivers Capital at a time when we want to focus on our customers and developing our brand their support has been essential.”
The team at Point Blank has identified a gap in the market and the loan will enable them to scale-up the business and start producing large quantities of the natural energy drink.
James Holloway Investment Executive for Rivers Capital said, “Point Blank has a great product and a fantastic team in place, meaning they are ready to take on the energy drink market. It is great to see such an ambitious company in the North East, and we are proud to support them.”
The North East Microloan Fund provides small businesses in the region with loans from £1,000 up to £50,000. It is aimed at individuals who have a solid business plan, but are unable to secure mainstream funding. The decision to provide a loan is not based on the assets a company may have, but rather the overall quality of the business.