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Chester wine bar gets £35K backing from MSIF
Newly established café and wine bar, Picnic Chester, has received funding in the form of a £35,000 loan from MSIF to start up their business venture.
The venue is set to be a popular attraction located in the heart of Chester, just minutes away from the Town Hall, Cathedral and new Storybook Theatre. Picnic prides itself on providing a unique offering for customers including a specialist delicatessen and regular live music nights, aiming to build up a loyal following over the coming months.
Founder and Director, Matthew Morgan, had aspired to open his own food and beverage outlet for some time and knew that Picnic Chester was the ideal location. To embark on his venture, Matthew approached Sarah Bailey, Relationship Manager at NatWest to support the business development. By working with Sarah, Matthew was introduced to Andy Jones,Investment Manager of MSIF who was able to detail out the needs of the business and successfully secure £35k of funding to help get Picnic Chester off the ground.
The funding gained will be used to further develop the site of Picnic Chester, as well as market the newly opened premises.
Andy Jones, Investment Manager at MSIF said “It has been a pleasure to work with Matt and see his dreams and plans come to fruition, in the form of an individual, stylish new venue in Chester. This is another great example of MSIF working with partners for the benefit of a new entrepreneur. By working together with Sarah at Natwest, we were able to jointly support Matt, and make his new venture a reality.”
Matthew Morgan, Director of Picnic Chester said; “I am very thankful to Sarah for putting me in contact with Andy.
The process was thorough and detailed, as you would hope and expect. I was able to build a great relationship with Andy who was upfront and clear about what was needed throughout. MSIF really helped with the progression of the plans and funding, rather than just say a ‘yes’ or a ‘no’ to the loan. They gave me the chance to get off the ground, for which I am extremely grateful.”
Sarah Bailey, Relationship Manager at NatWest also commented; “Matt has created a fantastic new venue with Picnic Chester which will be an asset to the city centre. We wish him and the business every success for the future.”
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