Fandangos Bar & Grill
Clients were looking to raise finance to assist with the opening of a new restaurant. The Bank used by the Directors for their other unrelated businesses were unwilling to support and two other Banks had already been approached unsuccessfully. Lochroe were then introduced to the clients by their accountant.
Following some necessary restructuring of their requirements several banks were approached and by creating a competitive environment interest was generated in the project. We assisted our clients through the negotiation process and eventually the preferred bidder agreed a competitive package utilising Small Firm Loan Guarantee Scheme. The terms of the offer met our clients immediate requirements and included sufficient flexibility to allow for future expansion.
Benefits:- By generating a competitive environment clients were able to raise the funding required at a competitive rate and achieve their ambition of opening the first of what they hope will eventually become a chain of restaurants.
Directors Comments:- We were highly delighted with the professionalism shown by Lochroe in helping arrange support for our plans. Without their advice and assistance it is doubtful that we would have been able to obtain the financial support within the timescale required and we would have failed to get our project off the ground.
If you are in the Aberdeen area why not try Fandangos and lend support to this new business.