Investment & Fund Management
highlighted the urgency of securing additional
Full Credential Description
GardenLiving, a unique amenity horticulture business in Finland, faced significant challenges during the COVID-19 pandemic when the Horeca sector shut down, leading to an immediate halt in orders. This situation created a pressing need for liquidity to manage existing stock and operational costs. Eva Wuite, the founder and manager, highlighted the urgency of securing additional funds to navigate this crisis.
To address these financial difficulties, GardenLiving obtained an EU-guaranteed loan through Finnvera, supported by the European Investment Fund (EIF). This loan was crucial in bridging the financial gap during the pandemic, allowing the business not only to maintain operations but also to expand its services and plan for e-commerce as demand shifted. Despite an initial drop in B2B sales, the B2C segment saw increased interest as people spent more time at home and invested in their gardens.
The tailored financial solution provided by the EIF enabled GardenLiving to adapt to changing market conditions and capitalize on the growing consumer interest in gardening. As a result, the business is now positioned for future growth, with Eva expressing confidence in the potential of the Finnish horticulture market. The support received allowed GardenLiving to not only survive the pandemic but also to enhance its service offerings, demonstrating resilience and adaptability in a challenging environment.