Funding for the purchase of a coffee shop in Worthing, Sussex.
Our Client has been managing a seaside café for several years and was given the opportunity to purchase the café from the owner. The fit was perfect, and there could be no question regarding the viability of the business model given it’s current trading figures. Buying this independent cafe was simply an easy choice which would enable the current managers to become proprietors of the cafe, truly owning their dream.
Seizing the opportunity, the client agreed to the purchase with another family member, setting up a new Ltd Company for the purpose. The client approached his own bank and other high street banks to borrow the funds however, they were turned away as these lenders took the view that he did not have enough experience and it was viewed as a “new start business”.
The team at Genie Lending could see the possibility in this established business and went about helping this client to source the right funding. Genie were successful in securing funding for the purchase of the business where others had been unable despite it being considered a start up.
The client was enormously grateful when terms were agreed and funds were paid out to the client within 4 weeks. A fantastic early Christmas present for our clients, which will see this cafe continue to operate with the passionate and care that goes into this business. Also a win for the local community and tourists alike.
Genie Lending have a wealth of experience in helping new start and young business raise funds based on both short term trading figures and projection led lending.
If your business has found funding difficult to obtain you can trust Genie Lending to go to every extent to provide the correct finance quickly, for the result you want. As well as the household names in the industry we have access to proven lending sources who you will not find on the high street. Our aim is to help UK SME’s obtain funding for all their business requirements, whether that be growth, acquiring premises, paying HMRC liabilities or simply working capital. Genie Lending can assist with complete finance solutions.
