<\/p>\n
Sarwar: backing for business loan (pic: DB Media Services)<\/p>\n
Anas Sarwar has made his first intervention into the Scottish economy since he resigned as Labour leader to join Andy Burnham\u2019s government.<\/p>\n
The new minister for trade, who has been offered a seat in the House of Lords, has backed a \u00a31 million trade loan, guaranteed by UK Export Finance, enabling shortbread maker Dean\u2019s of Huntly to meet rising export demand in Australia, China, Europe, Japan and the US.<\/p>\n
The Aberdeenshire business received the loan from Bank of Scotland, supported by UKEF\u2019s General Export Facility (GEF), designed to unlock flexible finance for small and medium enterprises seeking to boost their overseas sales.<\/p>\n
Upgrading the factory will cut the company\u2019s carbon emissions by 49.5 tonnes per year \u2013 the equivalent of a petrol car travelling around the Earth five times. \u00a0<\/p>\n
Mr Sarwar said: \u201cScottish shortbread is enjoyed across the world and it\u2019s fantastic to see UKEF back Dean\u2019s of Huntly as they expand into exciting new markets.<\/p>\n
\u201cBy helping businesses access the finance they need, UKEF is supporting our world-class food and drink sector to succeed and drive growth across the UK.\u201d<\/p>\n
Bill Dean, CEO at Dean\u2019s of Huntly, said: \u201cThe flexible support from UKEF and Bank of Scotland means we can fund overseas orders and smooth the peaks and troughs of seasonal demand, while at the same time continuing to invest in production capacity and sustainability.\u201d<\/p>\n
Over the last financial year, UKEF provided\u00a0over\u00a0\u00a311\u00a0billion\u00a0in loans, guarantees and insurance to help UK companies export and grow, supporting up to 85,000 jobs and contributing up to \u00a36.4bn to the economy.<\/p>\n
Dean\u2019s last year acquired Duncan\u2019s of Deeside, another Aberdeenshire shortbread specialist, increasing the payrool from 140 to 200.<\/p>\n
\t #Sarwar #backs #export #loan #Deans #Huntly #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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