8th March 2024
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Locally Owned Ltd has received a £40,000 investment from NPIF River & GC Microfinance, which River Capital manages in partnership with GC Business Finance (GCBF) as part of the Northern Powerhouse Investment Fund.
The loan will enable the business to expand its food and beverage operations and help to create up to eight new job opportunities in the Liverpool City Region.
Locally Owned Ltd, a current Subway franchisee, is gearing up to reinvigorate a new location in Fazakerley. The investment from River Capital and Northern Powerhouse Investment Fund will allow the business to secure the franchise for this outlet, bringing back the fresh flavours and further choice of Subway to the local area.
Now aiming to reopen and relaunch the previously shuttered store, Locally Owned Ltd will provide a boost to the local food scene with itscommitment and dedication to quality. Under the Subway brand and with the eight new positions on the horizon, the investment is set to nurture the growth of the business.
With the leadership of experienced entrepreneur Michael Peasgood, the business is now set to increase its success across Liverpool, building on its existing reputation as a Subway franchisee and with Fazakerley complementing their existing store in Ormskirk, Michael and his team are truly ensuring the people of Liverpool can ‘Eat Fresh’.
Andy Jones, Investment Manager at River Capital, said “We are thrilled to fuel Locally Owned Ltd’s continued growth through this investment and support. This loan isn’t just about reopening a store; it’s empowering a local business to ensure a global favourite is again available in this part of the City Region, while fuelling the local economy with fresh opportunities. We hope to build on this relationship with Michael and be his funding partner as he embarks on his growth journey to add further Subway stores to his portfolio.”
Michael Peasgood, Director of Locally Owned Ltd said “We’re incredibly grateful to both River Capital and the Northern Powerhouse Investment Fund as we embark on adding a further store to our Ormskirk location. By increasing our presence, we are not only ensuring further success for ourselves but can provide more options to our communities while creating new jobs.
Debbie Sorby, Senior Manager, British Business Bank said: “NPIF has always proudly backed local businesses like Locally Owned Ltd, helping to boost business growth one step at a time. Investments like this aren’t just about expanding business operations; it’s about revitalising the local community. By bringing back fresh flavours to Fazakerley, Locally Owned Ltd is not only refreshing the community’s food scene but also creating valuable job opportunities. This investment is a testament to our dedication to nurturing local businesses and ensuring that the local economy thrives.”
The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The MSIF group of funds are managed by River Capital Management Ltd which is regulated by the Financial Conduct Authority in the course of investment business. Financial Conduct Authority Registration Number is 180891.
BFS Funding Managers Limited is regulated by the Financial Conduct Authority as a Small Authorised UK AIFM under firm reference number 608682.
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