Longshot Country Inns, the owner of the Bel & The Dragon group of restaurants with rooms, has secured a £5.3m loan from OakNorth to refinance its current debt facilities.
Bel & The Dragon, which has seven sites in Berkshire, Surrey and Hampshire, aims to use the loan to increase its bedrooms from 47 to 61, and for working capital purposes.
Commenting on the deal, Joel Cadbury, chairman and co-founder of Longshot, said: "Whether joining us for lunch, tea, dinner or even spending the night, we aim to make our guests feel at home, so are delighted to have secured this loan, which will enable us to accommodate even more visitors."
Deepesh Thakrar, Debt Finance Director at OakNorth Bank, commented: "Joel Cadbury and Ollie Vigors [Bel & The Dragon co-founder and Longshot managing director] are born entrepreneurs with an exciting and diverse track record of starting, scaling and exiting numerous successful and unique businesses. Along with Hector Ross, COO of Longshot Country Inns, they have built an incredibly strong portfolio and we look forward to working with the team on more deals in the future."
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