Patisserie Lane Limited has received a £60,000 investment to enable the opening of its new coffee shop in Farnworth, Widnes.
The funding comes from NPIF II – River Capital & GC Business Finance Smaller Loans, which is managed by River Capital & GC Business Finance as part of the Northern Powerhouse Investment Fund II. It has allowed for Patisserie Lane to take over operations from ‘The Whole of the Spoon’ and has supported a full refurbishment of the premises.
The renovations have created a modern interior and provided upgrades to kitchen equipment, with expectations of up to four new full-time jobs being created within the local community now the works are complete.
Founded by a family trio, Patisserie Lane brings together the talents of sisters Jasmine Beckett and Natalie Mercer, alongside their mother Jill Peers.
Together, the three local entrepreneurs will focus on providing high-quality coffees, teas, and pastries in an inviting atmosphere located in the heart of Farnworth village, with aims to bring a community feel to both residents and visitors to the area.
Sue Chambers, Investment Manager at River Capital said:
“We are happy to support the launch of Patisserie Lane and the entrepreneurial drive of Jasmine, Jill and Natalie and with their previous business experience and enthusiasm, we believe Patisserie Lane has excellent potential for success.”
Jasmine Beckett, who will manage the day-to-day operations, commented:
“Securing this investment from NPIF II and River Capital is a huge step in making our vision of Patisserie Lane a reality.
“We are excited to serve hand-crafted coffees, teas and pastries in a vibrant environment and our goal is to make Patisserie Lane a must-visit destination in Widnes.”
Sue Barnard, Investment Manager at the British Business Bank, said:
“With the independent coffee shop market being valued at £4.6bn last year, it’s no surprise that entrepreneurs are taking the chance to capitalise on this. It’s great to see three businesswomen using NPIF II funding to open a new coffee shop in Widnes, highlighting how Northern businesses are benefiting from the Fund. We wish them the best of luck with their future growth following the refurbishment of the premises.”
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.