Case study: Factory 45
We helped Factory 45 get the loan they needed to cover the cost of refurbishing their new premises
Funding Options has been chosen by the government-owned British Business Bank to help businesses like yours find finance when they’re unsuccessful with the major banks.
Factory 45 is a multi-purpose warehouse space above Mercato Metropolitano, Elephant & Castle’s street food market. Co-founders Romain D, Romain R, Thibault and Youri opened the space after the French Corner, their previous venture in Mercato Metropolitano, had been a success. The new Factory 45 space would give them the flexibility to offer a wider range of activities, from fitness and photography to art installations and corporate entertainment.
The team of young entrepreneurs had moved quickly, refurbishing and launching Factory 45 just two months after getting the keys to the building. Meanwhile, the French Corner was being refurbished for the summer, moving from a winter skiing theme to a summer Provençal theme. All of these costs — from the custom-made bar to the outdoor pétanque field — would be happening in a short space of time, at a quiet time of year, so the owners decided to use business finance to keep things running smoothly until they recouped the costs over the busy summer period.
Although Factory 45 had only been trading for a few months, we found them a short-term unsecured business loan based on their strong revenues. Things have been going well since then, and the team are looking into expanding the Factory 45 concept to new locations around the UK, Paris, and beyond.
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