British Business Bank CEO visits Shropshire farm to see impact of funding
British Business Bank CEO Louis Taylor visited Shropshire-based Cherrington Farm to see first-hand the difference the Bank’s funding is making in the agricultural sector.
He visited the farm along with senior figures from Chester-based Oxbury Bank and members of the British Business Bank’s Guarantee and Wholesale Solutions team.
Oxbury is a UK bank with a singular focus on farmers, food production and the rural economy. It recently secured a second transaction under the British Business Bank’s ENABLE Guarantee.
Run by Andrew Crow and the Crow family, Cherrington Farm is a mixed arable and beef farming business that has diversified into renewable energy production for local biomass boilers as part of the 1200acre holding.
The farm’s loan is part of the ENABLE Guarantee facility provided to Oxbury by the British Business Bank. The purpose of the original loan was for a combination of a biomass boiler refinance following extensive development and a strategic land purchase.
Gaynor Dykes, Senior Manager, Origination and Relationship Management said: “Visiting Cherrington Farm really helped bring to life the ultimate benefit of our ENABLE programmes. It was also interesting to hear first-hand some of the challenges facing UK farmers today. We are grateful to the Crow family for their hospitality.”
Announced in June, Oxbury Bank recently secured agreement with the British Business Bank to increase its existing ENABLE Guarantee transaction by £100m to £200m.
