As an award-winning chef, Adam Newth was embarking on his dream project – setting up his own restaurant which overlooked the stunning Mouth O’ The Tay in Dundee. But the site was in dire need of modernisation. His skills as a chef had already landed him an investor assisting with the majority of costs for this new business. He was around £30,000 short of the money required to overhaul the kitchen, however. And while Adam’s culinary credentials were strong, he faced some obstacles getting conventional funding. So he was happy to have the assistance of Complete Leasing to find him a solution.
Restaurants are notoriously risky for creditors, especially without a track record. And while Adam already had some financial backing, there were unforeseen costs reducing their contribution towards the kitchen costs. There was another complication – Though Adam was the face of the restaurant, he was not a listed Director of the limited company through personal reasons. Due to Adam’s time spent travelling and working at various restaurants to hone his skills, there was very little information on his credit file.
Combined, these obstacles can often be show-stoppers for most lenders. The Broker was aware of the significant positives to this business proposal, and confident that Quantum would take the time to understand these positives. Quantum saw opportunity instead of problems, and were flexible enough to get around them to accept the deal quickly. The administration was also easy and small things like accepting electronic docs, and paying out on scanned copies helped the broker provide a great service on top.
Adam’s restaurant is now in full swing. The broker was impressed not just by Quantum’s willingness to lend, but their reportability – in that it was easy to get hold of them and work together to overcome the difficulties that put most prime lenders out of the question. As such, Complete Leasing have since placed more deals with Quantum, and continue to experience a proactive approachable service.
On top of being more flexible than other lenders, Quantum were really accessible and made it easy to discuss the case details.