Crave Drinks secures loan for Virgin Mojito launch
Crave Drinks has secured a £20,000 business load to fund the launch of its first product, which is an alcohol-free drink.
Virgin Mojito is described as “an energy drink/ mocktail hybrid”, which has been created for “a new generation of nightlife enthusiasts”.
Crave Drinks aims to meet the consumer demand for healthy and alcohol-free drinks, while also tapping into trends for products low in gluten, sugar and artificial flavours and preservatives. Its drinks will also provide healthy, vegan energy, and a number of other cocktail flavours are in the pipeline, such as the pina colada.
The loan, from GC Business Finance, will help Crave break through the barriers to enter the canned drinks industry by enabling it to purchase initial stock supply. The firm will initially target festivals and events before expanding across the UK and Europe.
Anita Rae, director at Crave Drinks, said: “This loan has been vital in an industry which has relatively high start-up coasts. Crave can’t be produced in a home kitchen, a large quantity must be manufactured per order, therefore initial investment was essential. The loan has provided a crucial steppingstone to cover the funding gap between beginning an attracting external investment.
“It has been brilliant working with GC Business Finance. They have been helpful, understanding of my cashflow and the importance of the loan in it. It is great that there’s a function like this available for new business owners like myself.”