Business Loan And Hire Purchase For Fit-Out Of High-End Cocktail Bar

“This deal shows exactly why Asset Advantage is a brilliant funder... they massively supported the funding line, and showed great flexibility with combining a loan and asset finance to fully support the fit-out project."

Thank you to Tim Jones Director of Start Point Finance for working with us on this deal.

An experienced hospitality business owner, with many successes under his belt, spotted an ideal second site to extend the concept of his successful cocktail bar in London. He reached out to Tim Jones to get the finance to fit-out the premises to the standard his discerning customers would expect.

£325k part Hire Purchase, part Business Loan, delivered in 4 tranches, structured over a 5-year term.

Tim said: “This deal shows exactly why Asset Advantage is a brilliant funder. In the current climate, many will not lend into the hospitality sector full stop. Bringing the deal to Asset Advantage enabled the client to get a good rate, which may not have been possible otherwise.

They massively supported the funding line, and showed great flexibility with combining a loan and asset finance to fully support the fit-out project. They delivered it in four phases to get the project up and running quickly. And great patience was shown by the payout team in working with the multiple suppliers.”

Insight from Vickey Want Assistant Director of Credit: Why I approved this deal: "The business owner demonstrated considerable experience, and he had a good knowledge of the location of the second site of the cocktail bar."