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EFG scheme secures leasehold for a local chippy

EFG scheme secures leasehold for a local chippy

Our client's wife ran a successful children's day nursery in Dudley, which ASC had arranged finance for in 2007. Her husband wished to buy an established leasehold fish & chip shop in Birmingham, and, of course, came back to ASC's West Midlands Director John Taylor to find out how best to source finance.

Unfortunately, all available tangible security had previously been utilized in buying the children's nursery, and John had to explain that the only way forward was by using the Enterprise Finance Guarantee Scheme. So an application was prepared, and a meeting with Yorkshire Bank arranged . They agreed that the proposal was a good one and that they would support it to the tune of £49,000 (approx. 60% of the cost of purchase).

The requisite paperwork was completed, and after a brief period the finance was agreed.

Mr. Younis is now happily running the business, and thanks John & ASC for making it possible.

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Why ASC?

You already know that arranging business finance can be a tricky experience.

We appreciate that your time is precious. With our extensive knowledge of business finance available in today’s SME market we can approach the lending institutions that are right for your business finance needs. You will be saved from the frustration of endless form filling, repeated conversations with numerous lenders, and save you from having to provide each different lender stacks and stacks of information.

Our job is to remove the ever increasing number of hurdles that are put in your path, by arranging business finance or commercial finance for you in a time-saving and more efficient manner.

ASC have been established for over forty years and we have experienced more recessions and ups and downs in the economy then we care to remember. Due to our clear focus on independent businesses and entrepreneurs we have developed a track record which is envied by our competitors. You will deal directly with an experienced Director who has a strong commercial background and real experience enabling him or her to find the business finance which is just right for your business.

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