Just Eat ties up with Funding Circle
The peer-to-peer lending marketplace has partnered with Just Eat to aid 27,600 restaurant partners.
Funding Circle is exclusively focused on small businesses with more than £2.5bn lent to 25,000 businesses in the UK, USA, Germany and the Netherlands.
Co-founder and managing director at Funding Circle James Meekings said, "Small businesses are the backbone of our economy. Their commitment and aspiration to make things better is what drives the UK forward. Nowhere is this more evident than the great tradition of the British takeaway restaurant. Together with Just Eat we are working to support the fantastic owners behind the nation's takeaways to access the finance they need to grow and to get on with achieving their goals."
With the Funding Circle partnership, Just Eat has secured an exclusive discount for its 27,600 restaurant partners to reduce the administration fee when they take out funding support.
This is part of Just Eat's wider commitment to support its restaurant partners, through the work carried out by its Restaurant Services team.
“It has been fantastic to see the level of engagement and total savings realised by our restaurant partners since we introduced our first cashback offer with wholesaler Booker and Makro in 2016. Our latest suite of offerings - from flexible funding solutions, help with business rates recovery and even deals for discounted Sky broadband, WiFi and TV - will give our restaurants more opportunities to reduce costs and make their businesses even more profitable and competitive. We will continue to work hard to deliver deals that will give restaurants greater control and even better value. There is much more to come,” said Robin Clark, director of restaurant services at Just Eat.
One of Just Eat’s restaurant partners, Petra Turkish Restaurant, has used the Funding Circle deal to refurbish their restaurant and is currently in mid-refurb. The restaurant secured the funding in March, and is rated 5 stars on Just Eat.
Mr Yilmaz Guney, owner of Petra Turkish Restaurant in Islington said, "Our business is booming. Recently, we were looking to take advantage of an opportunity to expand the business, but the banks were slow and couldn't provide us with the help we needed. Our partners Just Eat directed us to Funding Circle who arranged the loan for us in a matter of days. By not spending months speaking with the banks I was able to get the finance I needed and focus on running the business and planning for the future".
Photo credit: DealsLands UK