Punch Coffee, a coffee shop based in Nottingham, has secured £14,500 funding from First Enterprise – Enterprise Loans under the British Business Bank’s Start Up Loans programme to invest in new equipment and growth.
Ben Bradley, Co-Founder of Punch Coffee, was motivated to create a space where customers could connect, fostering a sense of community and making a positive impact by serving a range of hot beverages, sandwiches, pastries, and cakes attracting a strong presence of locals, regular commuters, and students living nearby.
The investment from First Enterprise – Enterprise Loan and Start Up Loans will be used to purchase new machinery and create new jobs to enhance operations.
First Enterprise – Enterprise Loans provides government-backed business loans ranging from £500 – £250,000 for start-ups and SMEs that are unable to borrow from traditional high-street lenders. The not-for-profit organisation reinvests profits into loan funds to further support economic growth and job creation in the local communities.
Ben Bradley, Co-Founder of Punch Coffee, comments: “First Enterprise – Enterprise Loans has been incredibly positive and supportive throughout the entire process, showing genuine enthusiasm for our business. They’ve supported our goals of hiring staff from the local community and purchasing key equipment.”
Simon Mitchell, Investment Manager at First Enterprise – Enterprise Loans, comments: “I really enjoyed working with Ben and helping to finance Punch Coffee. Ben has a great brand and a really deep understanding of the customer and how to drive loyalty and engagement. The business is based in an up and coming area of Nottingham that I am sure will continue to develop.”
Start Up Loans, part of the British Business Bank, has recently announced Enterprise Loans East Midlands (ELEM) as the new regional Business Support Partner (BSPs) for the scheme.
Richard Bearman, Managing Director of Small Business Lending, British Business Bank commented: “The British Business Bank’s Start Up Loans programme offers support and guidance to business owners alongside financial support. We wish Benjamin and his team every success going forward.”