Together has provided a £1.4m unregulated bridging loan for a farmer to consolidate his debt ahead of retirement.
The organic farmer, who has worked on his family’s 200-acre business for nearly three decades, was left with severe cash flow problems during a six-month period when he was unable to sell his milk because of a salmonella outbreak among his herd.
To overcome his financial difficulties, he took out six emergency loans in 2023.
With the herd now fully vaccinated and performing well, he was looking to refinance into a single loan that would be more manageable and easier to repay from the sale of two farmhouses, their outbuildings and surrounding land.
As the properties served as both working farms and family residences, the case…