Luminor finances the purchase of new equipment for the production of sweets

Luminor Bank has granted a loan of 105 thousand euro to the confectionery and sweets manufacturer SIA Karameļu Darbnīca for the purchase of new equipment. This will enable the company to expand its range of products, creating new and healthy products while preserving their natural nutritional value.

“The bank’s cooperation with SIA Karameļu Darbnīca has been ongoing for many years and we are convinced that the company has a clear vision of its business development direction and is persistently and successfully implementing it. We have already supported the company in the past by providing financing for the purchase of equipment, reconstruction of premises, and for the current assets, and we see that the company is financially responsible and growth-oriented. Given the fierce competition in food production, this ambition is essential for a successful business,” says Ilze Zoltnere, Head of Luminor Corporates Department in Latvia.

The production site of SIA Karameļu Darbnīca is in Jelgava, where the company produces caramels, soft candies, marmalades, biscuits, and other sweets. Karameļu Darbnīca accepts personalised orders, embedding names, initials, logos in caramels, and offers different sets of sweets. The factory also organises caramel-making demonstrations, workshops, and tours.

“I believe that taking a bank loan was one of the best business decisions I have ever made, because it would have been impossible to raise so much money to renovate the premises, set up the production and buy equipment in a short time, but the business needed to grow. It helped to become economically active in a short time, as well as to get through the economic shocks. The loan will help us fulfil our dream of developing new and healthy products for our customers. After testing the new equipment and capabilities, we plan to purchase additional technology that will enable us to process not only berries, but also vegetables and other food products. We strive to create a safe, dynamic, and attractive environment so that our employees enjoy working in the company and our partners and customers enjoy working with us,” emphasises the owner of SIA Karameļu Darbnīca Ilze Priževoite.

In the early years of its establishment, the company operated as a home-based producer, but in the first years of its operation it grew rapidly, and now the company employs 19 residents of Jelgava and its surroundings.

About SIA Karameļu Darbnīca

Founded in 2014 in Jelgava, the company is one of the most flexible corporate sweet producers in Latvia. The sweets are made using natural ingredients and are extensively handmade. Karameļu Darbnīca has been awarded as the company of the year in Zemgale in 2018. The company’s products can be bought on the premises, in various organic shops, and supermarkets.

About Luminor

Luminor is the leading independent bank in the Baltic States and the third largest financial services provider in the region. We provide financial services to individuals, families, and businesses. Just like our home markets of Estonia, Latvia, and Lithuania, we are young, dynamic, and forward looking.