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07
Jul
BFS Hits £7m Milestone For Start Up Loans Scheme With Largest Loan To Date

Business Finance Solutions  is celebrating a major milestone this week after completing the delivery of finance and business support for over £7 million of Start Up Loansto over 1200 entrepreneurs across the North West as part of the Government’s Start Up Loans initiative.

June 2015 also saw the largest combined Start Up Loan granted to a business by BFS since the programme launched in the North West in 2012. Carl Morris and Laura Morris received a £25k loan each totalling £50k to launch Yard & Coop a casual dining restaurant and bar in the Northern Quarter.

Yard and Coop Directors Carl and Laura have nearly 30 years’ experience working for both national operators and independent bars and restaurants and came to BFS earlier this year with their vision of a bar and restaurant. The menu is based around a high quality, succulent style of buttermilk fried chicken, the recipe for which Carl has spent the past year researching. The 120-cover venue will also have an extensive drinks menu featuring craft beers, small batch spirits and new and classic cocktails.

Laura Morris said: “Carl and I are passionate about food and wanted to use our years of experience in the industry to bring something a bit different to Manchester.  We came across this kind of dining while we were in the States and knew that it would work well in the Northern Quarter. We then took it one step further and created a really high quality recipe that takes two days to perfect and keeps the chicken really succulent and tasty. This combined with a vibrant, easy place for people to sit, socialise, eat and drink is at the heart of what we want Yard and Coop to deliver.

“Going to see the team at BFS and being able to draw on their expertise in our industry as well as getting the £50k Start Up Loan meant that we now have the menu, the venue and the staff in place as well as a plan for growth that means Yard and Coop will be a name to remember for years to come!”

The £7m milestone comes as David Cameron announced earlier this month that the government has met its target of making 30,000 loans to entrepreneurs nationally through the £310m Start Up Loans initiative that provides repayable loans, together with mentoring and other business support.