Eco Charger - based in Ilfracombe, North Devon, and the world's first all-electric quad bike business - has secured additional funding from HSBC UK with the support of UK Export Finance to invest in its supply chain and fund expansion in North America. The company has doubled its working capital facility from HSBC UK to ￡350,000 thanks to the UK Export Finance's General Export Facility (GEF). This flexible funding allows the business to import bike frames in much larger and regular quantities, speeding up production. Russell Crisp, Eco Charger's executive chairman, said: "We are extremely grateful for UKEF's support in allowing HSBC UK to double our facility and thereby ensure we are maintaining our current growth strategy. Our business revenue is doubling year-on-year, so the funding will massively help us broaden our supply chain to meet the increasing global demand for our bikes."
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