Leading Wiltshire farm business Steve Benson Farming is set for further growth following agreement on a new £1.2 million funding package from Clydesdale Bank.
Owner Steve Benson operates more than 10,000 acres of land across Wiltshire and Oxfordshire in hand and contract farming, centred around farmland in Highworth and Bourton.
Two thirds of the acreage is rented with the remaining third contracted out to other operators.
The business employs 12 staff and also operates a highly successful grain storage facility on a former Ministry of Defence site at Wroughton comprising two 30,000 square feet grain stores with a total capacity of 19,000 tonnes.
Clydesdale Bank’s £1.2 million funding package includes a refinance of term debt funding used to purchase and fit out the grain stores as well overdraft, asset finance and credit card facilities.
The deal was facilitated by Justin Hayward, Relationship Manager for Agribusiness at Clydesdale Bank’s Business and Private banking centre in Oxford.
Growing the business further
Steve Benson commented: "The decision to broaden our successful farm operation into grain storage has paid dividends and we are continually looking at other opportunities to grow the business further.
"We were keen to work with a funding partner who understood the farming industry and had the sector expertise we required.
"The Clydesdale Bank team have shown a real enthusiasm for working with us and the fact that Justin himself comes from a farming background is a definite advantage.
"Their flexibility and speed in arranging the facilities we required has demonstrated their willingness to support our strategy for the business."
Mark Laughlan, Head of Clydesdale Bank’s Reading and Oxford Customer Banking Centres, said: "Under Steve’s guidance, the business has enjoyed sustained growth and is well established as one of the area’s most significant farming operations.
"We’re looking forward to supporting Steve further as he moves into this latest growth phase."
