As part of the state aid scheme to support the economy during the outbreak of COVID-19, the Fund of Funds of SID Bank provided a loan of 150,000 EUR for working capital to Naturalica Foods.
Naturalica Foods is best known for its brand Teta Frida, and behind the company is entrepreneur Uroš Mlakar, who laid the foundations for the company by building the first low-energy student dormitory in Slovenia. After the opening of the facility and restaurant, the company soon shifted its focus entirely to the production of natural desserts, ice cream, and chocolate under the Teta Frida brand. Today, they offer their products in their own network of chocolate cafes throughout Slovenia and over 250 other sales outlets. Teta Frida products, which have also received prestigious international awards, have started to be exported to Switzerland, Germany, and Poland this year. Despite numerous challenges, the company utilized the COVID-19 crisis as an opportunity for a crucial step - relocating to new production facilities spanning nearly 3,000 m², made possible through the Fund of Funds financing. In recent years, they have also linked the chocolate business with tourism and opened a luxurious chocolate glamping village in Maribor by the Drava River.
The loan funds can be used by Naturalica Foods for financing eligible expenses and company costs, primarily intended for financing investments in research and development of related working capital.
By financing such projects, the Fund of Funds of SID Bank strengthens its mission of promoting the competitiveness of the economy, creating job opportunities, and ensuring sustainable development in Slovenia. This enables companies to further develop, finance investments, and achieve a greater competitive advantage in both domestic and international markets.
Tanja Golob, CEO of Naturalica Foods, said, 'We chose the Fund of Funds of SID Bank for two reasons: the suitability of the product for larger investment projects and favorable financing conditions. However, we cannot overlook the friendliness, speed, responsiveness, and support from the employees of SID Bank and their understanding of the economy.'
We chose the Fund of Funds of SID Bank for two reasons: the suitability of the product for larger investment projects and favorable financing conditions.
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