YouLend finances £500,000 to Bar & Grill for refurbishment

Unlocking funds for growth

The bar & grill was a trailblazing success story for Manchester as it opened during the pandemic and quickly built a loyal customer-base. The restaurant team decided to set up shop in an unused station in Manchester’s North Quarter and its open-fire menu options and customer-focus attitude enabled the grill to survive through every stage of the pandemic, from click & collect to outside tables to full opening.

In March 2023 they decided to build on their success with a new venue, but this required investment and a new level of risk.

Financing through headwinds

With the recent risk in the market, traditional lenders were unwilling to offer a competitive option, which inspired the owners to pursue new financing options that were more suitable for them.

The owners approached the broker to discuss their position – they needed a substantial amount of money to open and refurbish their new venue, but as a restaurant, cash flow and cost control were key concerns. The right financing would not only source the funding they needed to grow, but also deliver it at a rate and structure that worked best for them.

Finding the right fit with YouLend

Working with the YouLend platform was able to take a holistic view of the team’s proposal, understanding the true value of the business and offer tailored options.

Using alternative data points such as website traffic and online sales to track the health of the business were able to use YouLend to connect to a wider range of funding options that were previously unavailable to the client.

Access to £500,000 in financing

After putting together a proposal, they were able to offer £500,000 at a lower factor rate than other competitors in the market, ensuring the financing would be easy to manage in the long term.

Repayment was set at a manageable 12% sweep rate, meaning that the team could flex repayments in line with their own revenue, offering long term security and giving the team space to grow the business moving forward without the risk of a fixed repayment structure.

The funds are already being invested in new premises, services and developing their audience, with full peace of mind and a blazing future.