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17/03/2014

Young Welsh chef set to serve up success thanks to a Finance Wales micro loan

A talented young Welsh chef is making his mark on a popular North Wales bistro thanks to a £40,000 micro loan from Finance Wales.

Gerwyn Williams, whose cooking has been mentioned in The Good Food Guide, recently took over the well-known Conwy restaurant, Bistro Betws-y-Coed.

Mr Williams combined the micro loan with a loan from Lloyds and his own capital to secure a 10-year lease on the restaurant as well as to cover initial rent payments and other start-up costs.

“I’ve worked and trained in many of North Wales’ best restaurants as well as at Bryn Williams’ London restaurant, Odette’s. Added to this, I ran Y Tanerdy in Llanrwst for two successful years. All of this experience has certainly helped me whilst taking on the challenge of running a well-established local restaurant in a community I know well.

“Bistro Betws-y-Coed’s potential is huge as it’s in such an excellent location and the loan from Finance Wales provided me with the capital I needed to begin making the most of this potential. I’m really enjoying working with the local farmers and producers I know to create a dining experience that really puts my restaurant on the map.”

Local intermediary Trefor Rowlands introduced the experienced head chef to Finance Wales.

Investment Executive, Svetlanna Goode, a micro loans specialist at Finance Wales said: “Gerwyn has had a varied career working in a number of busy, highly regarded restaurants and he also received some excellent reviews at Y Tanerdy.  He’s built up a wealth of experience in the restaurant trade and is now keen to make his mark with Bistro Betws-y-Coed. 

“Bistro Betws-y-Coed is located in a real tourist hot-spot, has an excellent reputation  and Gerwyn wants to build on this reputation to turn it into a real destination restaurant. Finance Wales’ micro loan is part of a larger funding package which is enabling him to achieve his ambition.”

Finance Wales made the loan from the Wales Micro-business Loan Fund.

Micro loans from Finance Wales can help with a range of investment needs, including start-up costs, capital expenditure and stock purchases. Businesses often use them to unlock much-needed additional investment. Finance Wales has a streamlined application process which ensures it can be responsive to businesses’ needs.