Downpatrick-based Down Sauce Co Ltd. has received a boost to its business after securing a five figure loan from the Northern Ireland Small Business Loan Fund (the Fund) which has been invested in new machinery and created three new jobs.
The Fund is managed by Ulster Community Investment plc (UCI) on behalf of Invest Northern Ireland. UCI is a subsidiary of social finance organisation Ulster Community Investment Trust (UCIT).
Down Sauce Co Ltd. is a family run business with over 30 years’ experience in sauce manufacturing, developing new recipes for companies in the UK and Europe. The company employs six people, with the business now producing around 30,000 kilograms of sauce per month. The company’s products range from a variety of different sauces and marinades including Sweet Chilli Sauce, Tandoori Marinade and Lemon, Honey and Rosemary Marinade.
Director of Down Sauce Co Ltd, Patrick Murray, said: “In four years the business has experienced tremendous success and grown faster than we expected. We have worked with chefs from all around the world to create different sauces and marinades using local sourced ingredients.
“We approached UCIT for assistance to purchase new machinery which has reduced both cooking time and the packing process to around 2 hours. This has greatly improved the efficiency of the production process and has allowed us to take on additional staff.”
Looking ahead, Orla Mitchell, Sales Operations manager at Down Sauce Co Ltd said: “We will have a real focus on expanding the business into bigger premises and with that bring more jobs to the area. We want to be able to expand our product range to include mayonnaise, dry blend glazes and a squeezy bottle range.
“Export is another area of the business we plan to build on. We have just broken into England and the Republic of Ireland, and are keen to push our products into wider markets.”
Chief Executive of UCIT, Harry McDaid, said: “This is a perfect example of a small business suited to our loan fund. The company has a passionate management team, growing product range and an expanding client base. They are exploring new markets, building revenues and giving employment opportunities to those seeking them. It is the type of business the Small Business Loan Fund was set up to support and we are very pleased to have done so.”
Business Start Up Cost
Expansion or Growth Finance
New Product or Market Development
New Asset Purchases