Team Magnus

Founder Kristine Moody originally built the brand on the UK show circuit, attending events such as the Royal Highland Show and the Blair Atholl horse trials.

It was in 2017, 7 years on from the start of her Team Magnus journey in 2010, that was the real turning point for the business after Kristine launched Team Magnus on Amazon in Germany. That year, demand for both winter and summer goods exploded, as did Kristine’s business with turnover growing from £450,000 in 2018 to a massive £3.5M in 2021.

Due to such fast growth, Kristine faced challenges to meet demand including managing inventory and the logistics of trading internationally. From this, she turned to Business Loans Scotland for support with raising growth capital to support this huge demand for her products.

After successfully applying online, Team Magnus was issued with its first loan of £50,000 for growth capital and following this, as business continued to soar, Team Magnus received a second loan of £70,000 in 2020 to keep up with an ever growing demand.

Fast forward to 2022 and with plans to launch an online portal for junior sports clubs, the business received their third loan, this time for £25,000 to support the development of the portal and expand the business’ offering even further.

Supporting small and medium sized businesses across Scotland with loans to start-up or grow, BLS offer loans from £25,000 to £250,000 to ensure that commercially viable proposals do not fail from a lack of access to finance.

Fully financed by the Scottish Government, BLS has issued loans to 134 businesses across Scotland to date totalling in excess of £10.2 million with loans being used for various purposes including to raise working capital, invest in office premises, increase marketing activity and to introduce new product lines to name a few.

With a total of £145K being issued to support her business growth plans, Founder and Managing Director of Team Magnus, Kristine Moody explained:

"Business Loans Scotland is a rigorous lender and you'll need to prepare your documentation beforehand. Like with all good partnerships the back and forth has value in itself. We've learnt from the borrowing process. Most importantly we've improved our forecasting, which helps us operationally too.”

Andrew Dickson, Fund Manager of Business Loans Scotland said:

“Kristine’s journey of growing the Team Magnus brand is a fantastic success story and I am delighted that Business Loans Scotland has been able to play a small part in this journey by providing the finance required to help Kristine realise her growth ambitions for the company.”

He added:

“With a £4M pot of funding currently available, we are keen to speak with Scottish Business Owners, who, like Kristine of Team Magnus, require finance to either start a new business or grow their current one, to see if we can help.”