UK Agricultural Finance

UK Agricultural Finance completes £3m loan for poultry business

UK Agricultural Finance (UKAF) has recently completed a £3m loan to help a poultry farmer develop and invest in their business.

The complex loan involved multiple different assets related to the business, with acreage and security split across multiple plots.

The separate plant being funded is expected to result in the removal of all of their commercial heating needs, while also enabling rainwater harvesting to reduce water charges.

While the borrower has several existing high street lender relationships, they were unable to provide the necessary finance in the time required.

The specialist lender’s team worked with the broker and borrower to structure a loan that met their needs without compromising the existing hight street debt.

Throughout lockdown, UKAF was able to continue lending as social distancing is easier to maintain when lending against agriculture land.

Susan McIntosh-Gibbs, head of business at UK Agricultural Finance in the Midlands and surrounding areas, said: “Working within a specialist agricultural underwriting team that prides itself on face-to-face underwriting allows us the time to meet farmers and businesses to understand the nuances of the particular opportunity which help to provide responsible, informed underwriting decisions.   

“Working closely with Goodman Corporate Finance helped the borrowers remain informed and secure the right type of financing.”

Paul Goodman, chair at the NACFB and founder of Goodman Corporate Finance, added: “Sue and the team at UKAF took ownership of the loan and worked hard with our team to get the right financing for our client. 

“It is very refreshing to see this in the marketplace and [we] value this level of determination and ownership to deliver for our clients.”

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