Propel provides financial ingredients for Copper House’s success recipe.
”Propel really understood our business and grasped the challenges we needed to overcome in a friendly, efficient manner – enabling us to launch our new business to time and within budget.”
Lyndsey Simpson, Director, Copper House
Copper House is the latest independent bar and restaurant for Hertfordshire. Its range of luxury champagne and locally sourced menu is attracting locals and visitors alike as the town’s newest social institution in which to eat, drink and play.
Originally Berkhamstead Town Hall, and latterly an Italian restaurant, a group of local business people joined forces to transform the Grade II listed building into a noteworthy site once more.
With a background in banking and a thriving HR & Recruitment Outsource business in tow, Director, Lyndsey Simpson, knew keeping the finances for this venture straightforward for all parties involved would be key to success.
A £230k funding boost from Propel enabled the group to refurbish the site and purchase new equipment without affecting their other interests.
Lyndsey said: “At 50K more than originally approved, the support from Propel gave us the ability to stretch as our needs changed whilst retaining 100% equity in the business. Having been aware of Propel through other business interests our expectations were fairly high and they didn’t disappoint. The company really understood our business and grasped the challenges we needed to overcome in a friendly, efficient manner – enabling us to launch our new business to time and within budget.”
Sarah Freeman, Head of Retail Finance at Propel, said: “Supporting businesses to support each other is absolutely what Propel is all about, and the issue couldn’t be more relevant when it comes to the launch of the Copper House. They say that many heads are better than one, and in this case Propel feels extremely fortunate to have been a part of the entrepreneurial mix involved.”
Contact us on 01633 415222 to discover how Propel can help you power your business momentum.