An iconic venue in Street, Somerset has received a six-figure business loan boost to support its reopening.
Following a period of enforced closure caused by the pandemic, Mark Tobin took over The Loft restaurant in 2021.
The building has a long and colourful history and was originally a theatre. Accordingly, Mark has taken extra care to integrate its historic characteristics into an opulent dining experience.
A family-friendly vibe is undeniably a crucial element of the restaurant. Meanwhile, in the eaves of the building, you can find Street’s only dedicated cocktail and prosecco lounge, Marion’s Bar.
The Loft currently employs 10 people who are all local to the restaurant. However, the business is forecasting the headcount to rise to 15 over the next year.
Kai Pinnell of South West Business Finance (SWBF) introduced Mark to SWIG.
The Loft owner Mark Tobin said “The pandemic affected business dramatically. Without the safety net of SWIG funding my restaurant would have already opened and closed – I would not be in business without this help and support. SWIG Finance was phenomenal. Furthermore, my business manager Nicola provided help and advice every step of the way.”
In addition, SWIG Finance’s Senior Business Manager Nicola Parker commented “Mark has a great deal of experience in this industry. Because he knows this venue particularly well, he is perfectly positioned to lead the relaunch of this exciting restaurant. For over a century, this venue has played an important role within its local community, and we are therefore delighted to play a small part in helping to bring it back to life again for all to enjoy.”
We have business loan funding available in Somerset and beyond.
SWIG Finance is a non-profit company that supports viable South West businesses that can’t secure sufficient funding from their bank. By empowering underserved SMEs to overcome their financial barriers, we are working to create a more balanced financial ecosystem.
We’re growing every year. In 2021/22, we lent £10.8m to 502 businesses, helping to create and secure over 1,000 jobs and generate £32.3m. For more information visit https://www.swigfinance.co.uk/social-impact-report-2022/
If you’d like an informal chat about your funding requirements, get in touch with our friendly and professional team to see how we can help: info@swigfinance.co.uk / 01872 227 930.