Atom Bank supports South Wales farm expansion with £6.1m finance

Atom bank has delivered a £6.12m commercial loan to support the expansion and diversification of a farm in South Wales.

Formerly operating as a traditional dairy farm, the enterprise has expanded over the past decade into various new ventures, including glamping accommodations, an onsite bistro, trampoline and soft play areas, and an event venue.

The business was seeking funding to support its continued growth, including the completion of a dedicated wedding venue.

Atom bank provided a bespoke package worth £6.12m at 65% LTV on an interest-only basis, with flexible terms to allow the business to achieve its ambitions.

The case was introduced by James Weaver, commercial manager at Watts Commercial Finance.

Karen McGrath, senior commercial BDM at Atom bank (pictured above), commented: “SMEs are the lifeblood of the UK economy, and often have great plans for the future, but they can only achieve them with the right support.

“In this instance, the business has already shown it can diversify successfully into a range of different areas, building on its history as a farm to develop a holiday business, bistro and event hosting, all the while establishing itself as a significant employer in the local area.

“By focusing on ways we could make the deal work, rather than potential sticking points, we have been able to provide an outstanding family-run business with the financial base it needs to reach the next level.”

James said: “The borrower is a strong local business, with great ambitions for the future, and Atom bank recognised that potential from the outset.

“The challenger mentality employed by Atom made a big difference here — the bank was pragmatic in how it handled the case, and in arranging the funding package so that the borrower has time to allocate the funds as they see fit.

“Deals like this are never straightforward, but we have a great relationship with Karen, and the team really went over and above to deliver for the client.

“Without that attitude and flexibility, deals can easily fall through, but Atom’s approach has paid dividends and the client is delighted.”