Stylish funding package leads to salon expansionBy Matthew Ord, Digital Staff Writer
A Newcastle male grooming business is expanding after receiving funding from Barclays.
Alpha Male Grooming, established in 2008, has purchased the premises it has rented for the past eight years after a further rent increase.
Lee Hetherington, who founded the business and runs it with his wife Claire, said: "I contacted my broker Darren Baker of Peritus Private Finance and they put me in touch with Barclays.
"I've never invested in commercial premises before but I was determined to take the business to the next level and although this is a massive step for the business it allows us to plan for the future more confidently."
Matthew Heaton, business development manager at Barclays, arranged the funding. He added: "Lee and Claire operate a fantastic business that has a great clientele locally.
"They are always looking for innovative ways to expand their services and grow their business and we were able to move quickly to help Lee secure the deal."
The business employs seven staff and turnover is expected to reach £220,000 this year. The amount of funding was undisclosed.