An innovative family-run catering business at the heart of West London’s Asian hub has praised a bank’s quick-thinking to allow it to expand its operation.
The owners of Southall-based Delhicious Foods Ltd have embarked on an ambitious overhaul of the business, which has seen them invest in a total kitchen refit and a new fully-equipped vehicle to offer professional catering services for receptions, weddings and corporate events.
The investment was made possible thanks to Hertfordshire-based Redwood Bank, after being approached by broker Jasbir Baidwan of B & P Finance Consultants Ltd.
Redwood gladly stepped in to consolidate exiting debts in a money-saving deal completed in just eight weeks.
A £490,000 loan was secured, allowing owners Kanwal and Vicky Sabherwal to carry out the plans on the advice of their two sons, who had come on board since graduating from university.
Mr Sabherwal said: “We have been very impressed with the smooth and stress-free service provided by Redwood Bank, the speed of delivery from formal offer to drawdown was impressive.”
Redwood Bank quickly found solutions to the satisfaction of all parties, enabling the business to expand at the same time as reducing monthly repayment costs.
Business Development Manager Dan Carter said: “It was clear that the Sabherwal family had earned the right to be considered as a solid, flourishing business. Delhicious Foods was established in 1994 and operated from a small production kitchen in Buckinghamshire. In 2002 they incorporated Delhicious Foods Ltd, became directors and shareholders and moved to the current premises. Six years later the family purchased the freehold of the premises.
“For me, this demonstrates exactly what Redwood Bank is all about. Supporting businesses who have a desire to expand and grow. The deal was not without its challenges, but by communicating clearly with all parties, these challenges were quickly dealt with to the satisfaction of all.”
Redwood Bank was launched in August 2017, becoming Britain’s newest business bank for SMEs. It offers secured SME mortgages for business owners, as well as for experienced commercial and residential property investors. Redwood Bank delivers fast and efficient mortgage decisions to help its business customers seize property opportunities and also offers competitive business savings accounts.
CEO and Co-Founder of Redwood Bank, Gary Wilkinson, said: “This is a great example of how we put customers at the forefront of what we do. We were able to find a solution quickly, which matched the customer’s expectations, and at the same time saved them money.”