Finance on standby for a restaurant in a seasonal seaside town

A restaurant came to us looking for a way to support their business on an ongoing basis. Set in a seasonal location that capitalises on the holiday market, they wanted to make sure they could take full advantage of opportunities when they arose, be prepared for peak seasons in advance, and have cash in the bank to optimise quiet periods with small refurbishments.

The evergreen nature of Rivers’ Secured Revolving Credit Facility was the perfect solution, ensuring there was cash ready and waiting to be used as needed. Looking at their needs, we set a cap of £100,000 and security was put in place. Their first draw down came at the start of the summer, when then have accessed £30,000 to get more staff and stock in place for the busier time of year.

Money was in their account within 24 hours, and they began repayments only on the amount they had drawn down, safe in the knowledge that more was readily available if they needed it. It will also rise back up to the maximum available when the initial drawdown is repaid, ready for the next opportunity.