News

Coffee house full of beans after it receives Microloan funding

Emma Neal

06 Nov 2015

Gateshead-based independent café Altin Coffee House has received a loan through the Finance for Business North East Microloan Fund run by Rivers Capital Partners.

Founded in June 2014 by Irfan Altin, the coffee house has grown a hub of loyal customers that are keen to see the place develop. Designed as a relaxing place with modern furnishings, the coffee house has a Turkish influence reminiscent of Irfan's roots.  The menu offers a wide range of savoury options and the café has a friendly atmosphere as soon as you step through the door. They also provide a takeaway service, proving to be popular amongst local residents and workers.

Irfan prides himself on the quality of his premium coffee, the food he serves and the high standard of service that Altin Coffee House offers. With a wealth of experience behind him, Irfan has been able to create a vibrant establishment and is keen to build on this and improve his customer's experience.

The funding from the Microloan will assist with expansion, forming the coffee house into a bistro and garden furnished with planters, gazebos and new furniture. Irfan will soon be installing heaters outside for developments that will be revealed in coming months. The Turkish founder would like to cater for the local student population that makes a significant impact on businesses in the area. To encourage this he offers student discounts and will be holding events with a young audience in mind.

Irfan was delighted with the service Rivers Capital Partners provided, describing it as "very easy; it was plain sailing". The Microloan Fund has allowed the coffee house owner to explore expansion as the company is in its early stages, helping him to acquire the resources necessary to improve his service.

Rivers Capital Partners Kristine Murane said "Irfan has done an excellent job in creating the calm, relaxing atmosphere originally envisioned. It is rewarding to see this company develop from the Microloan Fund as the Gateshead community will benefit from having an independent coffee house right on its doorstep."

The North East Microloan Fund offer small loans from £1,000-£25,000 to businesses looking to expand their operations. Rivers Capital bases their decisions upon the quality of the business itself, with successful applicants receiving the loan, on average, in just two weeks.

The Microloan Fund is part-financed by the European Regional Development Fund (ERDF), and is designed to help boost the regional economy. The Microloan Fund has already made a great impact in the North East by creating over 440 jobs and safeguarding over 660 jobs since inception in 2011.


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