Spice Bros Brighton Limited is a restaurant based in Brighton that approached Crispcap for funding to set a strong financial foundation. The business not only needed money to catch up on supplier credit, but also to fuel future growth and establish reserves.

Having been trading for 3 years, Spice Bros Brighton struggled to find a traditional lender willing to adjust the underwriting criteria. Spice Bros Brighton turned to Crispcap, who was able to unlock funding with favourable terms.

Here’s how their funding journey played out.

How Did Spice Bros Brighton Start?

Spice Bros Brighton is a family-run restaurant. With many family members working in the industry, they decided to branch out and start their own business. Since its inception, Spice Bros Brighton has believed in sourcing quality ingredients and using traditional cooking methods. Despite the restaurant industry being plagued with cash flow issues, staff shortages, and other setbacks, Spice Bros Brighton was able to build their market share with their unique spice blends and family-centered business model.

What Challenges Did They Face Before Getting a Business Loan?

Prior to funding from Crispcap, Spice Bros Brighton leveraged their supplier relationships to purchase inventory on credit. While this was a good short-term solution, the supplier’s credit terms were high, rigid, and inflexible. With high monthly payments, Spice Bros Brighton was struggling to maximize cash flow.

Spice Bros Brighton also faced difficulty securing funds due to being in business for just three years. Even though their business model was solid and their customer base was growing, traditional lenders were not willing to budge.

How Has a Business Loan Helped Them?

The business loan from Crispcap gave Spice Bros Brighton the ability to catch up on invoices. They were able to pay off credit and outstanding invoices. With these debts cleared, Spice Bros Brighton had the ability to increase their inventory and have the flexibility to redraw on supplier credit if needed. This flexibility not only gives peace of mind but also opens the door for growth.

What’s Next for Spice Bros Brighton?

With old supplier invoices cleared out, Spice Bros Brighton has expansion plans. With a solid financial foundation and funded reserves, they can hire more team members, make larger supply orders, and enlist the help of a marketing team.

Getting Started with Your Business Loan

Does it sound like your business can benefit from flexible business financing? Our team at Crispcap is ready to help your business unlock financing solutions that fit your business needs. Get in touch here.