Lincolnshire-based brunch café chain secures £25,000 funding to launch fourth location
A vibrant brunch café chain based in Lincolnshire, has secured £25,000 funding from First Enterprise – Enterprise Loans under the British Business Bank’s Start Up Loans programme to expand their business with a fourth location under a new brand name, Juni.
Fika currently operates three brunch cafes known for innovative dishes, quality beverages, and appealing ambience.
The cafe chain aims to differentiate itself with a unique yet approachable menu offering excellent coffee that caters to both adventurous foodies and casual diners. They also provide creative brunch options in a welcoming atmosphere focused on great food and service.
Ivo Nanev and Tia Naneva, former employees of Fika, purchased the business during the first Covid-19 lockdown and now look to use the funding from First Enterprise – Enterprise Loans to set up a fourth location. Juni will allow them to expand their successful business model and bring their unique brunch experience to more customers in the area.
First Enterprise – Enterprise Loans provides business loans ranging from £500 – £150,000, which are funded through several regional funds, for start-ups and SMEs that are unable to borrow from traditional high-street lenders. The not-for-profit organisation reinvests any surplus into loan funds to further support economic growth and job creation in the local communities.
Ivo Nanev and Tia Naneva, co-owners of Fika, comment: “The funding support has been crucial for our expansion plans. The level of support throughout the application process was very good, ensuring our application was as strong as possible to gain approval. This finance will allow us to bring our unique brunch experience to more customers with our new Juni café, furthering our mission to offer innovative, high-quality brunch options in a vibrant setting.”
Tia’s experience as a manager and Ivo’s recent time working at the cafe has provided them both with the insider knowledge that effectively eased the transition to ownership. As food enthusiasts with a shared vision for the hospitality sector, they saw an opportunity to elevate the cafe’s offerings when the previous owner decided to sell, making the acquisition a natural next step in their careers.
Richard Bearman, managing director of Small Business Lending, British Business Bank commented: “Hospitality venues are an important part of their local communities, so we are proud to be able to support these successful entrepreneurs to open a fourth location.
“It is clear that Ivo and Tia are experienced in the sector and have real-world proof that their business model works. I look forward to seeing how support from the Start Up Loans programme can push them to expand their portfolio even further with the opening of their next location.”
