Paragon Bank has provided £160,000 in funding to The Log Company, a Richmond-based business that specialises in logs, wood fuel and outdoor living equipment.
Established 10 years ago, The Log Company was created by Mark Smith and Edward Gibon and supplies over 10,000 bags of logs per year alongside other outdoor living products such as wood-fired heating and cooking equipment. It also stocks a selection of top of the range Kirami wood fire hot tubs and saunas.
Paragon provided funding for a range of equipment, including telehandlers, light commercial vehicles, gritters and a weighbridge.
The new equipment will support the expansion of The Log Company as it grows its log selling business by improving the efficiency of processing, drying and delivery logs. It will also allow the business to meet the standards of the ‘Ready to Burn’ legislation, which came into effect in May and prohibits the sale of wood with a moisture content of more than 20%.
Paragon Bank has an established relationship with The Log Company, having supported the business in the past by funding multiple assets.
Mark Smith, owner at 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 all-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.”
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.”