0:00
Hi. If you record your name and reason for calling, I'll see if this person is available.
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Harry from Lovie.
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Thanks. Please stay...
0:14
Hello?
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Hello, Benamit. Harry calling from Lovie.
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Hi there. How are you?
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Good. How are you doing?
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I'm all right. Thank you as well.
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Good stuff. Reason for the call. We've had this inquiry through.
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I was just looking through the documents you've provided.
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And basically, what we're doing a lot of at the minute is loans through the government growth scheme.
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So I just had a couple of queries to see if that's something you might be able to qualify for.
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If not, we do have other options anyway, but that's what we'd look at initially.
0:50
So first of all, can you just explain to me what you do or what the business does, please?
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We're a wholesaler, cash and carry, to the fast food industry.
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I've got a couple of years as a company,
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but I took over from a business that had been around for a long time
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with the same name, same training name,
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are known to customers as the same.
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So we're sitting on a valuable name for this company,
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a lot of loyal customers.
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And we've got opportunities to buy some new products,
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namely it's pizza sauce with a brand.
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We're trying to establish a contract with the supplier
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It's a well-established brand,
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and it will become exclusive to us if we can buy it.
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But the containers of it, we need to sign up for.
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It starts from about £40,000,
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and it's a bit too much for us to stretch to with our own funds at the moment.
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So we're going to establish this new line
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that needs a chunk of working capital we just haven't got.
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So where's this pizza sauce coming from?
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Portugal.
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And no one's distributing it or selling it in the UK currently?
2:05
No, that's right, yeah.
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Are they a well-known brand?
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Or is it like a new coming one?
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It's well-known, and it's been out of the market for a couple of years.
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Another business used to use it here.
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And it's an opportunity for us to grab it,
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and we did the exclusive distributor for the brand.
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It's called Pizza Mate.
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For restaurants and takeaways, it was quite famous, actually.
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In the market, in the industry.
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Right, okay.
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And what's good about it?
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Like, what's the reason that you want to bring it here?
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It's a unique recipe, and it's blended with spices and garlic and things like that.
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It makes for ready-made sauce.
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It's probably the best, one of the best that there is.
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Is it? Okay, fine, fine.
2:55
So this would go into, like, sort of like a...
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crab shops
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that sort of stuff
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Pete
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it's more like
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high-end restaurants
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and takeaways
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is it
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okay
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a bit more
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this one's a bit more
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for high-end
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it's got the market
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we've been talking
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to customers as well
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we've got people
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who buy it
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distributors as well
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wholesalers
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up and down the country
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in time
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we've been
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we've been looking
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to sell container loads
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to wholesalers
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but for the time being
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we've already got
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interest
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from people
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to have
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at least
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two containers worth
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but that first container
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needs about
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40,000
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to
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obtain
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we'll probably
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sell it in a couple
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of weeks even
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oh so it'll be
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literally in
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and turned over
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yeah
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for this product
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yeah
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we see it
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as a risk for us
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because it'll be
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we've already got
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the demand
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there for it in place
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so you can fly
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in and out
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and then we
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want to order
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a second container
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but the lead time
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is
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it's a lot
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Anything from four to six weeks coming from abroad.
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So we want to have the funds there
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to get at least the first container.
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Right.
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So we can let people down if we do get it off the ground.
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All right.
4:19
Well, we can come back pretty quickly with the figures.
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Okay.
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So you're not going to be waiting around for a decision.
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What I'll do,
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because you're quite a new business with that account,
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it might be a bit tricky to get you on this scheme.
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So what I'll do, I'll look at the scheme
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and I'll look at other options at the same time
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because normally we'll do one after the other.
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But yeah, I'll look at it at the same time.
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Just so they know, it's secured on my house and not an option
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because my wife would not agree,
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even though I'd like to go down that road.
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We don't even offer that, so that's fine.
4:54
That's fine. Perfect.
4:56
Okay, and you know this government scheme
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that goes through private lenders,
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but it's back.
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by the government is it to grow yeah yeah exactly but we're doing it because we're we're a lender um
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i see yeah i just yeah it it may be but it may take a while to come back because there's no
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account so um the more trading history you got the quicker they can make decisions on it so
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yeah i see okay our accounts are due shortly anyway and in the final stages i need something
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a bit urgently but that could be something that i think about you know if we could talk again in a
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few weeks i need something sooner than that but uh for a bigger amount and we can sort of push
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the business a bit more as well if that's possible that's fine what i'm going to do i'm going to put
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all the inquiry together now i'll work on the quicker one first um because we do lend our own
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money so we might be able to do it on our book as well um but what i'll do i'll i'll speak to a few
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different lenders now um and then i'll give you a call around 2 p.m are you going to be available
5:53
then yeah anytime yeah yeah i'll call you then and just update
5:57
you all right then perfect thanks a lot
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Cheers, Benham.