Merchant Cash Advance Case Study
A Liverpool based restaurant, offering a predominately vegan and vegetarian menu
The Challenge – Operating with £8k Overspend
The owner of a high-end vegan, vegetarian restaurant assumed he had enough financing in place for his new flagship restaurant. However, having now looked back at some of the interior fit-out costs in the original business plan forecast, it put the new enterprise £8,000 over budget. Although the business had got off to a good start operating with this £8,000 oversight was challenging. One month after opening, the owner approached BFS for advice on a cash advance.
The BFS Solution
The BFS team were quick to recognise that a business of this type enjoys a high volume of credit and debit card transactions and therefore a Merchant Cash Advance facility in exchange for a percentage of future sales could be the solution required.
Having built a network of Merchant Cash Advance experts BFS were quick to pair this business with a suitable provider. Within 14 days, as is typical, the required funding was in place and the restaurant continued to trade without concern.
The restaurant has proven to be a local success and with the increasing trend in healthy cuisine throughout the city of Liverpool, alternative plans are already afoot to open a takeaway delivery outlet offering this popular nutritious food.
We Can Help You
If you’ve tried the banks and traditional avenues for funding your business with no success, we can help. Contact us and we can give you all the information you need to secure funding. Call us now on 0800 047 2389.