Badalov was founded in 2006 and produces a variety of biodegradable paper bag goods with and without branding.
As the company received new contracts, its previous funding partner became unable to help support its business needs so turned to Bibby.
The Larkfield-based company – whose clients include Pasta Remoli and Virgin Active – needed the funding quickly to help facilitate growth.
Dean Corth, relationship manager at Bibby Financial Services, said: “Badalov is an exciting growing business that is at the forefront of sustainable paper packaging and we’re delighted to work with a business that puts sustainability as a priority.
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“Prior to funding, we assessed the business needs and aspirations and found that financial restrictions were limiting the potential of the company.
“We stepped in and offered a funding injection to allow Badalov to operate freely.”
Vasif Badalov, managing director of Badalov, added: “We really needed a funding partner that understood our business and its trading cycle.
“Having operated in our industry for over 16 years, we know our growth targets and what we can achieve and BFS understood this too.
“With this flexible funding in place, we can continue to expand our product range and meet the growing demands of our customers.”
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