Watch our funding case study to discover how a Boost Capital business loan helped restaurant owner, Naresh Kapoor, fund the refurbishment of his Islington branch of Sen Nin to compete with growing competition and attract new clientele.
My name is Naresh Kapoor, I am the director of Sen Nin Japanese Restaurants.
I started the brand back in 2006, when I opened my first site in Islington. Since then I’ve opened another site in Camden and the idea is to expand the sites further.
Back in August 2013, when we decided to refurbish Sen Nin Islington, I did need a lot of funds. There was a lot of work to do, we had a lot of plans so I approached my own business bank manager and he totally refused, even though the restaurant was healthy, good set of accounts, he just turned around and said that “Naresh, banks are not lending” and that’s why I approached Boost Capital.
Boost Capital provide a different form of funding, it was fast and quick. From the initial contact we had with Craig, it was a minimal process, it was less paperwork and we received the funding within two weeks.
I thought Boost Capital were very flexible, the great part of obtaining the funding from them was you’re not dictated on how to use it. I think with Boost Capital, they looked at our business, saw that we were a winning restaurant concept, we had cash flow there, so rather than looking at what assets we had in the business, they looked at what our current sales are, what money is coming in and that’s how they based the funding on that criteria.
And they based the repayments on what was affordable for us as a business and I think that, that sort of approach really helps us and is completely different to how the high street banks approach it.
I will need to regularly change the restaurant to keep up with the trends, I will need capital, it will be an ongoing exercise and that’s why I think being introduced to Boost Capital will help me in the future. I have no hesitation to recommend Boost Capital and it has benefited my business.
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