HSBC UK has provided a trio of funding deals worth nearly half a million pounds to young Welsh farmers, allowing them to diversify their farms, increase livestock numbers and enter new markets.
Owners of Pearson Farming Limited in Conwy, Sam and Angharad Pearson, secured a five-figure loan from HSBC UK to assist with purchasing a one third share of a new 500-cow grass-based dairy herd on the North Wales coast in order to significantly increase milk production.
In addition, a six-figure finance package from HSBC UK enabled 24-year-old farmer, Aled Jones from Llandinam, to build a new mobile free-range egg unit which can house up to 4,000 birds. The funding was used to install a Vencomatic Group system, making the farm more automated, welfare-friendly and modern.
Finally, Glenn Lloyd and his father Mike, owners of Gate Farm in Llandyssil turned to HSBC UK to support their move away from a conventional dairy farm in order to meet growing demand for organic milk. They used the funding to convert the farm to organic production.
Sam Pearson, director of Pearson Faming Limited, commented:
“We’ve wanted to build our business to include equity in livestock for a long time and our agriculture relationship manager at HSBC UK, Gavin Thomas, really understood our vision and fully supported our ambitious business plans. Our goal is to eventually purchase a farm with HSBC UK’s support.”
Euryn Jones, regional agriculture director in Wales and South West England, said:
“We’re passionate about supporting the next generation of young farmers in Wales and are delighted to help progressive young farmers achieve their ambitions and grow this vital industry. These are just three of the significant number of farming businesses across Wales that we have supported over the years.”