ASC Recent Client Results
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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