House of Boateng
House of Boateng has been bringing a passion for community and great food to Greater Victoria, BC since 2010 through its catering services, café and market.
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House of Boateng (HOB) was looking to grow their business into a second location, which would be used as a food preparation and manufacturing location, as well as a retail space to sell pre-made, chef-inspired meals and other artisan food products. They had secured a suitable commercial strata unit, but required significant financing for the building purchase and the associated tenant improvements.
Ashdown Capital’s Mike Hopp was brought in to help HOB ownership navigate the financing process, and advocate for the opportunities presented by this expansion. Mike developed a package that emphasized the new revenue streams provided through the retail capacity of the space, and operational efficiencies the location could provide as a second kitchen for HOB. He then presented the deal to lenders he thought would have an appetite for the transaction, ultimately negotiating 80% purchase financing, and 100% of the required tenant improvement funds.
House of Boateng was able to focus on the daily operations of their bustling business, resting assured that Ashdown Capital was advocating for the best possible financing package to support their business growth.
“Working with the team at Ashdown Capital was an easy process. It can be difficult for businesses in food service to obtain financing and with the help of Mike Hopp we were able to obtain the funds needed to open our second location.” – Castro Boateng, Owner