The finance will be used to support the company’s ongoing working capital requirements, while providing same-day supplier payment and access to multi-lingual trade and currency specialists.

This has allowed the business to continue to expand its global customer base and increase its output volume.

Phil Tobin, managing director of trade finance at Bibby Financial Services, said: “Eyeworks Industries is a great example of how growth funding can propel the success of a business. 

“At a time when traditional lenders are retreating from the market, we are able to structure a funding package to suit the needs of a global business model.

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“Businesses often wish to purchase goods from their suppliers to resell, but don’t have sufficient working capital or supplier credit terms to do so. 

“Trade finance enables this process to happen. 

“We look forward to seeing their success continue into the future.”

Established in 2007 by managing director Jamie Denholm, Eyeworks Industries manufactures and distributes eyewear to retailers worldwide.

The company started with an initial order of 3,000 units from a major retailer, but now sells millions of units.

Jamie added: “BFS’s expertise and quality service have been a great asset to my business. 

“They truly understand the business model and what we are working towards achieving in the near future. 

“Having bad debt protection in place additionally gives us peace of mind in the eventuality of debtor non-payment. 

“We couldn’t achieve our level of growth without them.”