Café chain lands funding to open fourth venue

A café chain based in Lincolnshire has secured £25,000 funding from First Enterprise – Enterprise Loans under the British Business Bank’s Start Up Loans programme to expand the business with a fourth location under a new brand name, Juni.

Fika currently operates three brunch cafes.

Ivo Nanev and Tia Naneva, former employees of Fika, bought the business during the first COVID-19 lockdown and now look to use the funding from First Enterprise – Enterprise Loans to set up a fourth location.

Ivo Nanev and Tia Naneva, co-owners of Fika, said: “The funding support has been crucial for our expansion plans. The level of support throughout the application process was very good, ensuring our application was as strong as possible to gain approval. This finance will allow us to bring our unique brunch experience to more customers with our new Juni café, furthering our mission to offer innovative, high-quality brunch options in a vibrant setting.”

Richard Bearman, managing director of small business lending, British Business Bank, added: “Hospitality venues are an important part of their local communities, so we are proud to be able to support these successful entrepreneurs to open a fourth location.

“It is clear that Ivo and Tia are experienced in the sector and have real-world proof that their business model works. I look forward to seeing how support from the Start Up Loans programme can push them to expand their portfolio even further with the opening of their next location.”