(L-R): Martyn Kendrick (regional director – North West), Ashfaq Hussain (managing director at EastZEast) and Alex Middleton-Adams (Lloyds Bank Commercial Banking relationship director for Merseyside
Punjabi restaurant group EastZEast is set to further expand its footprint in the North West after securing a £100,000 asset-based loan from Lloyds Bank Commercial Banking.
Serving award-winning dishes inspired by Indian, Pakistani and Kashmiri cuisine, the business recently opened its second restaurant in Liverpool and is set to launch its first venue in Blackburn this autumn.
EastZEast’s restaurant at Liverpool’s Kings Dock, which opened in 2011, has been joined by a new 150-seat venue on the infamous Penny Lane in the south of the city. In addition, the business is pushing forward with the delivery of a further 250-seat establishment in the King George’s Hall concert complex in Blackburn.
Lloyds Bank has provided a six-figure funding package to support the fit out of both restaurants, including extensive investment in commercial kitchen equipment and contemporary dining facilities. Ten new jobs have been created by the opening of the new Liverpool restaurant whilst a further 20 are expected in Blackburn as the business looks to build on its existing turnover.
Ashfaq Hussain, managing director of EastZEast, said: “Over the last decade we’ve grown organically and established a strong following in the North West. Our eyes are always open to new opportunities where we can hit the ground running and replicate the success of our existing model.
“Having the backing of a flexible bank that understands our business is essential to that process. Lloyds Bank has shaped our long-term growth strategy with considered advice and investment since 2015 and, in that time, we’ve developed a strong relationship that has enabled us to act upon opportunities quickly.”
Alex Middleton-Adams, relationship manager at Lloyds Bank Commercial Banking, added: “Enabling British businesses to prosper is at the heart of our offering, and EastZEast is a prime example of how we can achieve that through relationship-led banking.
“The group’s directors have a clear vision for the business and we’ve been able to support them consistently as they create new employment opportunities in the North West and add to its night time economy.
“Asset-based lending is an ideal way for firms to invest in business-critical equipment whilst maintaining cashflow for their day-to-day operations. We’re committed to helping Britain prosper by supporting SMEs like EastZEast, which is why we have grown our net lending to SMEs by 31%, while the market has contracted by 11 per cent.”
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