When a successful Italian restaurant chain came gnocchi-ng on our door to help with their plans for growth we were happy to put penne to paper.
Having a number of branches across London, the business looked for a £200k fully unsecured loan to secure leases on new premises to take their cuisine to new corners of the capital.
The highly profitable business had been running for over six years with a stable gross margin and increasing revenues making our underwriters’ decision an easy one.
2017 saw the number of UK restaurants going bust rising by a fifth. With nearly 1,000 insolvencies across the industry in 2017, the need for investment is paramount.
Originally published April 4 2018 , updated February 24 2020