CLIENT STORY

Simple Foods 24 Ltd

KEY FACTS

  • Industry: Retail - Convenience Store
  • Amount: £130,000
  • Reason: Expansion
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“Thanks to Nucleus, I have the funding I need to expand my business and offer a better service to my customers. Paul and his team were very easy to work with." 

Busharat Ghani, Owner | Simple Foods 24 Ltd.

Simple Foods 24 Ltd, is a 24-hour convenience store in Hammersmith, that needed financial assistance to support their expansion plans. They wanted to add a third shop to their operations and had been trying to raise the necessary funds for over a month. Previously, the credit rating of the owner, Busharat Ghani, had taken a hit. Even though, by the time they were looking for finance everything was once again in order, the bank turned them away. Feeling disheartened and at a dead-end, the business approached a broker that they had found online, to explore what other options might be available to them.


Since 2008, bank lending to SMEs has fallen and the criteria has become much stricter, making it hard for businesses like Ghani’s to fulfil their dreams of growth. Unfortunately, even businesses with spotless credit history can struggle to find the funding they need from traditional routes, like their high street bank. The strict criteria can feel like a check list, with a black and white approach to approval. With Nucleus, they found a lender that listened to their story and saw their potential. Opting for Property Finance, a secured business loan, gave Simple Foods access to the finance they needed, structured and tailored to the business, and priced in a way that the business could afford.


Property Finance Director, Paul Fenton explained to them that by using property as collateral they could borrow what they needed, now, at very competitive rates. Ghani decided to take out a second charge loan using the equity in his residential property as security. This allowed him to pay the loan back over five to seven years, giving enough time to expand his business successfully.

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