Rhian and Mark Phillips were experienced already within the sector with their popular ‘go to’ venue Why Not Bar and Lounge. The bar was a hit with young party go-ers and had developed a great reputation within the town of Aberystwyth. So, when the opportunity of taking over the adjoining property came up it was too good refuse. Mark and Rhian had a vision to improve their offering by creating a dining area to complement the existing bar. This involved a new additional kitchen to service the new restaurant as well as a complete redecoration and dining furniture.

It made sense, if adding to the lounge, to also revitalize the current space. New chairs, décor and second kitchen fit out would be required. Their chosen supplier, Crystal Catering Equipment, a close partner of CLS, were given the order and we were tasked with securing a structured finance solution. CLS were able to secure funding for the catering equipment at a preferential rate by highlighting the pairs wealth of experience within the hospitality sector and established linked business.

The customer also had additional funding requirements for furniture and decoration as the building work was paid for through cash flow.