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Barclays set to launch £100m fund to boost UK agriculture sector

The UK agriculture sector is set to receive a £100m boost from Barclays.

The bank is launching the dedicated loan fund to secure the future of the industry, improve efficiency and create additional revenue streams to limit effects of market volatility.

The multi-million pound fund will be available for farmers looking to modernise their infrastructure, helping to streamline their farming processes and increase efficiency.

The fund will also assist farmers looking to reduce their farm’s exposure to market volatility by providing funds to invest in viable diversification projects, either within agriculture or from non-agriculture sources.

Loans from Barclay’s fund have fixed fees starting at 0.6% for a loan term of 0-5 years, 0.75% for loans that are 6-10 years and rising to 0.90% for loan terms of 11-15 years.

Mark Suthern, head of agriculture at Barclays, said: “We are committed to supporting British farming and we are dedicating £100m in lending solely for use within the farming industry to help boost the industry’s profitability and efficiency. Read More