Start-up secures £400k finance for new restaurant
Having worked as a butcher at the age of 19, Niall Davidson’s passion quickly developed into cooking - he subsequently worked as Senior Sous Chef under Nuno Mendes @ the Chiltern Firehouse as well as Noma in Belgium. Niall’s newest venture sees him team up with Colin McSherry (Fat Duck).
When new-start company Nuala London Ltd needed £400k to transform a City Arts & Music Project into a fresh new restaurant / bar in the heart of London, an alternative finance solution was the most attractive option. “Providing a package solution outside of our banking facilities worked really well for us, knowing we still had that available for a rainy day.” says Niall, “Halo Corporate Finance’s combination of a lease and loan agreement meant we could finance everything from the ovens to the kitchen sinks! Getting everything in place for an opening is intense, but it could have been stressful. Having the peace of mind that the funds were in place, and knowing the payments are fixed for the term, meant I could focus on the menu, training and all the other things that are necessary for a successful restaurant.”
“£400k for a new-start company may sound like a tall order, but it’s the kind of project we relish.” Halo Director Luke Hultquist explains, “Traditional lenders can be restrictive; however, a quick solution was found by senior broker Mark O’Connor from our panel of over 65 lenders. This allowed Halo to provide a bespoke package to Nuala, giving them a solution that works for them. We’re proud to support both start-up and established businesses looking to expand.”
Nuala’s food has been described as, “rib-sticking comfort food with a sophisticated twist”. You can book a table via their website: www.nualalondon.com @nualalondon and please contact Halo Corporate Finance on how we can help your business www.hcfl.co.uk @halofinance.