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Arc Inspirations to open two new sites following £1.5m funding deal

Funding - Arc Inspirations secured £1.5m growth capital loan from Santander - SantanderCB

Leeds-based bar and restaurant group Arc Inspirations has secured a £1.5m Growth Capital Loan from Santander Corporate & Commercial that will be used to support the addition of two new sites to its current portfolio of 13 locations across Yorkshire and the North West. The company currently employs over 550 people, and plans to expand at a rate of two new venues each year, with a target of 20 sites over the next three to five years. Turnover is expected to increase by 27% to £24m this year following the successful launch of the Banyan Bar and Kitchen-branded sites in Manchester, Harrogate and York. The first new site on the back of Santander's support will be a Banyan Bar and Kitchen in Leeds City Centre, which is planned for April 2016, creating 30-40 new jobs. Tavia Sparks, Relationship Director for Santander Corporate & Commercial, said: 'Arc is a valued customer and one of the UK's leading independent bar and restaurant operator and we are delighted to support their continued growth plans. Santander Growth Capital funding is a unique funding solution to help management teams achieve their expansion plans.'

 

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