Sweet Nutrition

Case Study: Sweet Nutrition

“The deals in China and with the US distributor should really kick the business up a level in the next 12 to 24 months. It’s great to know we have the relationship there with Accelerated Payments: it gives us peace of mind to know we have the option to access that finance.”

Casey Parker, CEO and co-founder, Sweet Nutrition

About Sweet Nutrition

Peace of mind and the power to grow: Sweet Nutrition and Accelerated Payments Sweet Nutrition is a dynamic young Canadian food manufacturer whose success is down to its quick responses to market conditions. Receivables financing from Accelerated Payments has let the company capitalise on its recent and most successful pivot – a tasty, soft-baked, gluten-free vegan cookie – and embrace new opportunities for growth.

The Challenge

The Solution

  • Peter Browning of SME Bancorp recommended Accelerated Payments as an invoice financing partner who could improve Sweet Nutrition’s cashflow.
  • Once Sweet Nutrition sends an invoice to a client and it’s been accepted, the invoice is ready to be financed. Accelerated Payments provides up to 80% of the value of the outgoing invoice immediately to Sweet Nutrition, which can be used as working capital.
  • The balance payment is made once the client has settled the invoice.

ENTERING INTERNATIONAL MARKETS

Casey says the company enjoys a productive business relationship with Accelerated Payments, including a responsive account manager and the benefit of AP’s contacts in Europe and the UK, which has connected Sweet Nutrition with a new UK distributor. The company already sells direct to international territories including Qatar, Kuwait, Saudi Arabia, and Norway, and it’s expanding in China, following a deal just signed with a broker in the region who seeks out the best Canadian products for the Chinese market.

“The deals in China and with the US distributor should really kick the business up a level in the next 12 to 24 months,” Casey said. “It’s great to know we have the relationship there with Accelerated Payments: it gives us peace of mind to know we have the option to access that finance.” He says that the speed of access to the invoice finance is a big benefit compared to funding sources like small business loans. There is no application process once its customers have been assessed and approved by Accelerated Payments; Sweet Nutrition just sends in the invoice and the finance is released the same day.

All the elements are coming together now — the right product, the right financing partners, and the right customers – for Sweet Nutrition to maximise a market opportunity that’s only set to get larger. “People want to live longer and look better, they don’t want to put sugar into their bodies — or any of the other potentially harmful ingredients from the everyday snacks they grew up eating,” Casey said. “They’re realising that there are a lot more options out there, and that they don’t have to sacrifice taste in order to treat themselves.”

  • Peace of mind from the ability to access finance rapidly once invoices are approved
  • Improved cashflow is allowing the company to expand with confidence in international markets, including major new distribution deals
  • Removes barriers to growth and frees the company to invest in staff, marketing and product development

Benefits for Sweet Nutrition at a glance

English (United States)