A Bristol fruit preserve and chilli jam manufacturer is to double its capacity to meet increasing demand after receiving £200,000 from a specialist South West funder – having had its previous applications for growth finance rejected by its bank.
Single Variety Co, which mostly sells to individuals via its website, will also use the investment to support the recent launch of its ‘Simply Jam’ range, which it has developed for the catering industry. 
The firm was launched in 2016 by Nicola Elliott in her London kitchen. Supported by husband-to-be Ross, she sold the jars at local food markets.
Sales soared during the pandemic in 2020 by 500% as customers sough to treat themselves by buying nice things while stuck at home during lockdown.
Having outgrown their kitchen, the following year Nicola and Ross relocated the business to the outskirts of Bristol at Warmley, where it now employs nine people in its own jam factory.
The finance package includes a £100,000 loan through the British Business Bank’s £200m South West Investment Fund and a £100,000 loan from SWIG Finance, which supports businesses that cannot secure sufficient finance from their bank, to apply for a start-up loan.
The funding will enable Single Variety Co to grow its list of 500-plus stockists, including the Holland & Barret health and wellbeing retail chain.
The firm, which also exports to the US and Canada, currently produces 10 core products, ranging from passion fruit preserve to Amalfi lemon marmalade and scotch bonnet ‘super-duper hot’ chilli jam, plus monthly seasonal specials.
Nicola, pictured, left, with SWIG senior business manager Nicola Parker, said the firm was passionate about creating a truly premium range of award-winning chilli jams and fruit preserves using just one variety in each of products – hence the name – and much less sugar than traditional jams.
She added: “SWIG Finance have been absolutely fantastic in supporting our small business with a loan from the South West Investment Fund.
“We were fed up with getting ‘computer says no’ responses from our bank.” 
She met SWIG senior business manager Nicola Parker in person to take her through the firm’s business and plans.
“We felt supported all the way through the process,” she added.
Nicola Parker said she had been impressed with Nicola and Ross’s business acumen.
“It was clear to me that they had a well thought out plan for increasing their production capacity and had fully considered their requirements ahead of their application,” she added.
“Their determination to disrupt the jam market is inspirational and I am excited to see how the business evolves over time.”
British Business Bank senior investment manager David Tindall said the bank was pleased to be able to support Single Variety Co to scale up and meet rising demand for its products across the UK.
“The family-run firm has a thriving business and a clear vision for their growth trajectory,” he added.
“We look forward to seeing their expansion over the next few years, including into the foodservice industry.”
In its 2023/24 financial year, SWIG Finance lent £14m to more than 500 businesses, helping to create and secure 700-plus jobs and generate £71.5m in social impact.
It provides loans from £25k to £2m and equity investment up to £5m to help small and medium-sized businesses that might otherwise not receive investment start up, scale up or stay ahead.
It also manages the smaller loans element of the South West Investment Fund, which has been established to drive sustainable economic growth by early-stage finance for new and growing innovative businesses across the region.
