Metro Bank has provided a £13.95m debt facility to restaurant franchise business Auriga Holdings Ltd.
The loan to one of the longest-serving KFC franchisees in the UK is the challenger bank’s largest franchise loan to date.
The funding will be used by the group to invest further in its estate and open more hospitality sites in the future.
It currently operates a range of coffee and fast-food outlets, with over 20 sites and 500 employees.
Mark Stokes, managing director of commercial banking at Metro Bank (pictured above), said: “This deal is particularly exciting for us as it marks Metro Bank’s largest loan package in the franchise sector to date.
“Our expert knowledge and personal approach enabled us to create a funding solution that will support Auriga’s existing debt and working capital.
“We look forward to working closely with the management team in delivering projected plans and continued success.”
Afnan Bashir, managing director at Auriga Holdings Ltd, added: “We are delighted with the prospect of working with Metro Bank to facilitate our growth over the coming years.
“[It has] been very supportive throughout our banking migration process, and [its] dynamic and proactive approach to lending will be critical in our future plans.”
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