The Parlour at Blagdon has received a £35,000 Microloan from the Finance for Business North East Microloan Fund managed by Rivers Capital Partners. The Parlour will use the funding to support their plans of expansion.
Located in an idyllic part of Seaton Burn the business occupies a 2.2 acre site on The Blagdon Estate just north of Newcastle upon Tyne. An ideal setting for a café and bistro, with finance secured from the Microloan Fund the parlour can now cater for weddings, christenings and Christmas parties.
Owned by Carole and Nigel Marcantonio, Nigel operates and manages the business on a day-to-day basis. With a wealth of experience in the hospitality and catering industry, the Marcantonio family have an established background and have been producing ice cream in the Newcastle area since 1902, when the first of their relatives came to the UK from Italy.
Looking to the future Nigel hopes to expand further by growing the private event & function side of the business after securing a wedding licence. The Microloan will enable the business to hire three extra full time members of staff and develop the Factory kitchen.
Nigel commented on the Microloan Fund process, saying "It was a fantastic service. Couldn't fault it." The loan has enabled further development of the Parlour so they can now deliver their first-class product to even more customers. The family has 13 bespoke ice-cream flavours made exclusively from cow's milk on their Blagdon Estate.
James Holloway, Investment Executive at Rivers Capital Partners said "Nigel has done incredible work developing the Parlour into a landmark, and we're proud to help him take it further. They are careful to use locally sourced ingredients and follow old family recipes, making the Parlour an ideal candidate for regional support such as the Microloan Fund."
The Microloan Fund offers loans of £1,000 - £50,000 to small businesses that are unable to receive financial backing from mainstream lenders. Rivers Capital Partners base their decisions on the quality of the business rather than its assets. It is a quick and easy process, with successful applicants receiving the money on average within two weeks.