UK Agricultural Finance provides £1m to Norfolk farming business

UK Agricultural Finance (UKAF) has provided a £1m facility to a Norfolk farming family looking to expand their business.

The client required the five-year term financing to build a new barn, acquire new machinery and for working capital to move from seasonal to year-round operations.

The family already operated a successful firewood business that supplied several national retail chains and supermarkets.

However, the family’s existing lender had declined an extension to their facility.

The UKAF underwriting team visited the family at their farm and saw a well-run business that required a holistic view of their business finance requirements.

UKAF also believed that they had received good business advice from an external accounting team and had developed a clear plan for the future.

Mark Thompson, COO at UK Agricultural Finance, said: “Our specialist rural finance underwriting team enjoy meeting our borrowers face to face, as it provides us [with] the opportunity to make informed, responsible underwriting decisions and for us to provide much-needed rural finance to help farmers diversify, sustain, grow and improve their businesses.”

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