Inland Sea receives NPIF loan to support growth
Growth Hub
NPIF
Funding
05/07/2022
Loan follows support from Growth Hub
A clothing brand, which manufacturers t-shirts out of seaweed and cotton, has received an investment boost as it looks to expand.
Inland Sea, which is based in Macclesfield, has received a £27,000 loan from NPIF - BFS & MSIF Microfinance, managed by GC Business Finance in partnership with MSIF and part of the Northern Powerhouse Investment Fund.
The boost will increase its capacity for manufacturing t-shirts out of seaweed and cotton.
Eco-enthusiast, graphic designer and surfer Adam Costello made his first t-shirt out of recycled bottles in 2017 to raise awareness of plastic pollution.
What started out as a passion project has rapidly developed into the 'first ever company' producing UK-made t-shirts using seacell, a yarn made of 100 per cent biodegradable materials and seaweed.
Costello worked with the GC Business Finance team to expand the business' inland capacity for making sustainable clothing.
He secured the loan to accelerate Inland Sea's manufacturing process, as it looks towards creating 2,000 more environmentally conscious t-shirts as a direct result of the investment.
Additionally, the investment will see the business expand from a primarily ecommerce platform into brick-and-mortar stores, as well as increasing its employees from three to five.
With support from GC Business Finance, the business is also in a strong position to roll out the sustainable method of fabric production externally for other brands in the UK.
The deal was introduced to Inland Sea by Dave Saddington at Cheshire and Warrington Growth Hub, who have been working with Inland Sea to find the right finance since December 2021.
Adam Costello, founder of Inland Sea, said: "Inland Sea stemmed from my awareness of environmental issues from a young age, after spending a lot of time by the seaside in Abersoch.
"Financial support from GC Business Finance has helped me unlock the next stage in Inland Sea’s growth, by enabling us to continue importing more seacell to expand our product offerings."
Paul Deighton, senior loan manager at GC Business Finance, added: "Adam came to us with a clear vision, and we are pleased to support him by filling funding gaps to enable the eco-friendly business to grow."
Sean Hutchinson at The British Business Bank, said: "Supporting innovative organisations that set us on the path towards net zero, and a low carbon future, with access to finance is a key consideration of the Northern Powerhouse Investment Fund."