MSIF has invested a second round of funding into a Liverpool restaurant to expand its premises.
Grilla on Hardman Street serves Greek-inspired dishes and specialises in freshly cooked meat on the spit.
MSIF has provided Grilla with a further £12k in addition to the £34.5k it invested last year. The loan has been provided through funding it manages for the Regional Growth Fund.
The investment has been used to fit out the basement area with a dining area and dancefloor which will be used to host private functions such as birthdays, weddings and parties.
The function room is licensed until 2 am and the menu is similar to the main restaurant with a selection of grilled meats, fresh vegetables and homemade breads and pastries.
Grilla was set up by owner Giorgos Kaliviotis and his co-directors Nikolaos Fylladitakis and Ktoris Ktori. New business partner and meat specialist John Anagnwstopoulos has now joined the business.Director Ktoris Ktori said: “We are delighted with how our first year of trading has gone. Many of our customers are regulars and we get a lot of new people here through recommendation."
“The function room will extend our offering. We’ve already had lots of interest from people wanting to book parties for all sorts of occasions. It’s a really good space with a good sized dance floor and we have our own DJ."
“John has also been a fantastic addition to the team here. He was brought up on the family farm in Greece and prior to training as a chef, worked as a butcher so he is highly skilled in many aspects of the food industry."
“He prepares and cooks the meat using methods and recipes passed down through generations of his family which brings a unique, traditional touch to our food."
“Without the funding from MSIF we would not have been able to start the business let alone grow it. In addition to finance they have provided lots of support and advice and put us in touch with the right people and organisations to help us with our business.”
MSIF investment manager Sue Chambers said: “Ktoris, George and the team have worked really hard to get the business off the ground. Since opening last year they have been awarded a 5 star rating by the Food Hygiene Standards Agency and on Trip Advisor."
“With such a faithful customer base already, I think the events space will be very popular and they will be able to grow the business significantly.”
The Regional Growth Fund is provided through Responsible Finance. It provides loans to micro, small, medium and social enterprises across England through the community finance sector. £30million of funding is provided by the Government’s Regional Growth Fund, matched with a further £30million by the Co-operative Bank and Unity Trust Bank.
Grilla employs 11 staff and expects to increase to 15 during the next year.