Investment & Fund Management
which strained their
Full Credential Description
Luxus Home Fragrance, a UK-based company specializing in luxury handmade candles and diffusers, faced significant challenges in its early stages. Founded by James Debnam and Zuzana Sabadka, the business began in a makeshift setting, with operations conducted from their living room. As they started to advertise their products, they quickly became overwhelmed with orders, which strained their limited cash flow. The couple struggled to secure financing from traditional banks due to their status as a new business without an established track record.
To address these financial hurdles, they turned to Fredericks Foundation, a Responsible Finance Provider. Through the EU Employment and Social Innovation programme, they were able to obtain a loan guaranteed by the European Investment Fund (EIF). This support enabled them to rent proper premises, purchase new equipment, and hire additional staff. As a result, Luxus Home Fragrance has grown to employ seven people, marking a significant transformation from their initial operations.
The tailored solution provided by the EIF through the microfinance initiative not only alleviated their immediate financial constraints but also positioned them for future growth. James expressed a strong commitment to expanding the business further, aiming to increase staff numbers annually and continue the trajectory of success they have established since moving out of their living room.