Nory launches Nory Capital to provide secure and flexible financing for the hospitality industry
Nory, the AI-driven operating system tailored for the hospitality sector, unveiled its new initiative, Nory Capital, in partnership with YouLend.
This financing solution is designed to offer restaurants up to £2 million in funding within 24 hours of application submission. With a remarkable 90% acceptance rate, Nory Capital enables restaurants to swiftly invest in their operations. Moreover, Nory Capital offers recurring credit options to assist businesses in navigating short-term financial needs, adapting to seasonal fluctuations, and seizing expansion opportunities.
Nory Capital stands out by providing flexible and high-value financing solutions at highly competitive rates for small to medium-sized businesses (SMBs). The process is streamlined through an online application that is both quick and requires minimal paperwork, taking less than five minutes to complete. Financing offers are made on the same day, sometimes instantaneously, with the funds directly transferred to the businesses' bank accounts. The repayment terms are designed to be flexible, allowing restaurants to choose their preferred plan and make repayments based on a small percentage of future card sales.
Investing in new fit-outs, integrating cutting-edge technology, and expanding to new locations are crucial aspects of business growth. Especially during challenging economic times, such as a cost-of-living crisis, access to timely and adequate funding is vital for business survival and growth. Nory Capital aims to support restaurants by providing reliable funding options beyond traditional capital investments, facilitating their development objectives.
YouLend, a renowned global embedded financing platform, collaborates with leading companies including Amazon, Mollie, and Just Eat Takeaway.com. To date, YouLend has facilitated over 150,000 financing operations across the UK, Europe, and the US, demonstrating its broad impact and expertise in the financial domain.
Conor Sheridan, Founder and CEO of Nory says: “We are so proud to launch Nory Capital and revolutionise the way restaurants access financing! This is financing for the hospitality sector, by the hospitality sector. Our partnership with YouLend ensures that restaurants can secure the funding they need quickly and seamlessly, without the usual hurdles of traditional providers. Nory Capital empowers restaurants to invest in their growth, innovate, and thrive in a rapidly changing industry. This is more than just finance – it's about fuelling dreams and driving success in the hospitality sector.”