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.

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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.”