Funding business development for a new restaurant

A restaurant came to us looking for £30,000 to upgrade kitchen equipment and invest in in-house products, including new menus. This number was then revised to £75,000.

As the appliances were not from a UK supplier, we needed to offer funding in the form of a business loan rather than asset finance. In addition, the business only incorporated at the start of 2024, so at the time of the application there were no annual financial accounts to base the loan on.

Nonetheless, we were able to approve the loan for £75,000 over 36 months because of the strength of the application and the business credentials.