Specialist finance provider Paragon Bank has provided £160,000 in funding to The Log Company, a Richmond-based business selling logs, wood fuel and outdoor living equipment.
Paragon Bank’s funding allowed The Log Company to purchase equipment including telehandlers, light commercial vehicles, gritters and a weighbridge.
Mark Smith, owner of The Log Company, said: “Our business has evolved a lot since it launched a decade ago – we started as a small agricultural contractor before expanding into outdoor living equipment.
“We have focused on evolving the log side of the business as this provides revenue year-round without the seasonality of outdoor living and Paragon’s support has greatly supported us in scaling up.
“Working with the team is always straightforward and Richard took the time to really understand the direction of our business. Sales are booming and we have many online orders to fulfil, which this latest round of funding support will support with.”
The new equipment will also allow the business to meet the standards of the ‘Ready to Burn’ legislation, which came into effect in May. The legislation prohibits the sale of wood with a moisture content of more than 20%.
The Log Company was established 10 years ago by Mark Smith and Edward Gibon. The company supplies over 10,000 bags of logs per year alongside other outdoor living products such as wood-fired heating and cooking equipment.
Richard Cooper, business development manager at Paragon Bank, said: “We’ve had an ongoing relationship with The Log Company since its early days and witnessed the business grow and diversify into a multi-disciplined, scalable enterprise.
“We always take the time to understand a business inside out including its future plans so we can form a true partnership with our customers and help them fulfil their long-term vision for growth. We have provided funding for multiple assets for Mark and Edward’s business and look forward to supporting The Log Company in the future.”
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