Unlocking funds for growth
The bar & grill was an incredible success story for Manchester as it opened up during the pandemic and quickly built a loyal customer-base through their unique open-fire menu options. The restaurant originally decided to open in an unused station in Manchester’s North Quarter and managed to survive every stage of the pandemic, whether it was through launching click & collect or introducing outdoor seating.
In March 2023, they decided to build on their success and expand to a new venue.
A competitive offer & easy repayments
With the recent risk in the market, traditional lenders were unwilling to offer a competitive option to the restaurant which inspired them to pursue alternative financing options.
The owners approached a broker to discuss their position and stated that they need a substantial amount of money to open and refurbish their new venue. Obtaining a competitive offer and and ensuring easy repayments was their main concerns.
Finding the right fit with YouLend
The YouLend team was able to take a holistic view of the team’s proposal, understanding the true value of the business and was able to offer them multiple tailored options.
Using alternative data such as website traffic and online sales to track the health of the business , YouLend was able to provide the broker with an unmatched funding offer for the client.
Access to £500,000 in financing
YouLend successfully offered £500,000 at a lower factor rate than any other competitor in the market.
Repayment was set at a manageable 12% sweep rate, meaning that the team could make repayments in line with their own revenue - offering long term security and giving the team freedom to grow the business without the risk of a fixed payment structure.
The funds are already being invested in securing a new location and hiring more staff, with full peace of mind and a blazing future ahead.
Book a demo with the broker team
If you have businesses who need funding, book a demo below