How we helped a home cocktail company thrive

Two young entrepreneurs in their early twenties who had struggled to get funding because of their ages and lack of home ownership had tied themselves up in a lot of expensive borrowing to get their business off the ground without turning to family and friends.

They started the business during Covid with the rise in socially distanced parties. While people were stuck indoors and there was nowhere to get a cocktail they began delivering them straight to your door.

They came to us through a broker wanting £75,000 over five years to refinance the expensive debt and to fuel growth. The strength of the business and their equity in it meant that we were happy with that side of things. However, as both joint Directors and shareholders are still not homeowners, to strengthen the deal we required third-party guarantors in each case.

Both had individuals had people who were happy to guarantee the borrowing, so we were able to approve the loan and have it paid out in time for New Year.