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Tangible assets such as kitchen equipment
and a new EPOS system were financed
through a standard Hire Purchase plan,
while other costs such as painting and
decorating that would not qualify for asset
finance, were covered by a competitive
Business Loan.
Hunt comments: “We’ve known Karen and
the team at the Snooty Fox for years, and could
see that this new business venture was an
excellent opportunity. It appears that certain
sectors fall in and out of favour with the banks,
which can be very frustrating and baffling for
small businesses with good prospects.
plan, and could demonstrate that the Inn was
in a popular, central location and likely to
be successful. But despite this, their lending
criteria was so strict and inflexible, that we
didn’t quite fit their profile. Although we’ve
been with the same bank for many years, it felt
as if they didn’t know me or my business at all.
The business managers change so frequently;
we’ve had at least five since we started out.”
As a result, Karen turned to Ignition for
advice, and got in touch with Director
Steve Hunt, who has been her contact
for over a decade. Steve was able to put
together a bespoke finance plan for the
business which combined asset finance
with a business loan.
“By looking carefully at Karen’s needs and
offering her a package with a combination of
financial services, we’ve helped her achieve her
goal, and are proud to be supporting a sound
local business.”
Karen Ridley adds: “Steve at Ignition is now
my first point of call for financial support.
The team there are truly championing
independent businesses and will judge each
one individually on its merits, rather than
resorting to a tick-box exercise.”
Karen took over the Harbour Moon Inn at
the beginning of the year and is already
“ahead of budget and doing a roaring trade”.
www.ignitioncredit.co.uk