Coffeepots secures £600,000 funding from HSBC
Coffeepots, a Costa Coffee franchise in Cumbernauld, is resuming plans to build the town’s first drive-through coffee shop after securing a £600,000 financing facility from HSBC.
Coffeepots, owned by Pat Dunese and Colin Wilson, expects to create 25 new jobs when the latest outlet opens early in 2021.
The financing, provided by HSBC through the government-backed coronavirus business interruption loan scheme (CBILS), comes after lockdown forced the four-month closure of Coffeepots’ 13 cafes across central Scotland.
Mr Dunese said: “Our plans for growth were put on hold when Covid-19 hit as our income suddenly ground to a halt, but the support from HSBC UK has provided us with much-needed cashflow during this time, helping us continue paying our overheads and progressing plans to open new sites in Scotland.”
The franchise is also planning for further expansion with a move outside the Central Belt into Peterhead. This would also be a drive-through outlet, and is expected to open in late spring creating a further 25 jobs.
Grant Bett, relationship director at HSBC UK, added: “The hospitality industry was hit hard during lockdown and we’re pleased to have been able to help Coffeepots look to the future again as it re-embarks on its plans for growth. We’re committed to supporting UK businesses during this period of uncertainty.”