Carbyne Capital Investments Limited has reached another milestone in its supply chain expansion, as they issued a factor financing agreement with Ideas Execution Limited.

This agreement will enable the company to access additional working capital to scale up operations and fast-track the execution of contracts and purchase orders held with some of Jamaica’s largest manufacturing and distributing conglomerates.

Ideas Execution was represented by CEO Kevin Frith, who mentioned that “this capital injection would be immediately deployed to a major renovation and expansion project currently being undertaken at the Melrose Yam Park.”

Earlier this year, Ideas Execution signed a 15-year management contract to support the buildout of the yam park.

Frith noted that “the project for the yam park renovation and expansion is scheduled for completion in time with the celebration of the nation’s Diamond Jubilee this year and supply chain financing being received from Carbyne will significantly reduce any working capital risk for Ideas Execution.”

The expansion of Melrose yam park is expected to bring additional employment opportunities for residents of the area and increased income opportunities with more shops being installed.

Carbyne’s director Rajiv Ebanks expressed his satisfaction with the work being undertaken by Ideas Execution. The initiatives planned by Ideas Execution will provide vendors with mentoring, entrepreneurial and financial literacy training. Carbyne would seek to explore initiatives to support the financing of supply chain ecosystems into the yam park. Carbyne is also active in the area as a key supply chain financing partner for several contractors working on the Highway expansion project which is expected to incorporate the Melrose Hill Bypass and bring even more customers to the vendors in the area.

Ebanks noted that “supporting local businesses to scale up and meet the demands of large domestic and international supply chains was the major objective of Carbyne” and the company is proud to see the work being done by Ideas Execution Limited, which has been a client since inception.

Just last week Carbyne participated in the Muslim Businesses Empowerment Seminar hosted by Home Choice to present sharia-compliant supply chain financing solutions to the Muslim business community.

Carbyne will continue to focus on supporting SMEs operating in Jamaica and the wider Caribbean to access much-needed capital to meet the demands of both regional and international markets.