New Start Day Spa
We were approached by a client looking to start a chain. They were looking to open their first spa and had plans to open additional units. Their existing bankers lacked interest in this new venture.
The business was looking to purchase a site, develop the site and furnish it with suitable equipment. On top of that they needed working capital to help start the business and see it through the initial growth phase.
We introduced them to our contact at a local bank. They took time to understand their needs. As a result they were able to leverage finance from existing assets. The end result was a financial package that was just under £1m.
It is important to remember that if your bank has said ‘no’ another bank may still be interested. There are also numerous specialised, independent lenders that may be able to assist.