Asset finance providers the H&H Group has launched a farm finance division, a joint venture with Cumbria-based Mulberry Asset Finance.
H&H’s products and services includes livestock trading, rural insurance, land agency, property management and sales and lettings. In part through the new farm finance division the Group intends to widen access to this form of asset finance. The company will also provide rural livestock centres and land and property offices across Cumbria and the Scottish Borders.
Mulberry Farming, a division of Mulberry Asset Finance, is a Cumbrian business that supports agricultural and farming businesses.
Richard Rankin, chief executive officer of H&H Group, said: “This is a joint venture and through our land and property and livestock centres, we are providing a platform for our farmers and customers to access asset finance. Mulberry is already a trusted name with banks, accountancy practices and customers across the county. It is an established asset finance brokers company, authorised with the FCA, and it is their team who will obtain the finance for farmers.
“As a rural organisation, it is our aim to be able to advise on anything and everything within the rural sector and to support farmers’ livelihoods. I know that the team from Mulberry Farming are looking forward to meeting with customers at our marts over the forthcoming months and hopefully helping them secure the finance and cash flow they need.”
Funding that can be obtained through the farm finance includes a new or used tractor (up to 15 years old), plough or baler, or financing a land-based renewable energy product, or simply raise much needed cash to inject into the business by re-finance existing equipment or vehicles on the farm. Mulberry can also arrange unsecured loans for the purchase of dairy and beef cattle, or for trenching, fencing, buildings or extensions, and financing the assets needed in diversification projects, such as ice cream and cheese making, micro-breweries, farm shops or pods.
Mike Robinson of Mulberry Asset Finance said: “There is a natural synergy between H&H and ourselves, and it is a real privilege to be associated with the Group in this new venture. I know that, H&H supports the agricultural industry in so many ways, but they don’t directly offer asset finance to their customers.
Going forward, my aim is to support and provide a great service to all farmers across Cumbria and the surrounding areas by helping them obtain the right type of asset finance for their needs.”
Two members of Mulberry staff, Rebecca Braithwaite and Amelia Threfall, will be working for H&H Farm Finance full time.
The H&H Group, based at Borderway Mart in Carlisle, operates as a holding company with its seven operating companies encompassing livestock and machinery auctioneers, brokers and valuers, estate agents, auction rooms, commercial printers, chartered surveyors, and insurance brokers. It has offices throughout the England northwest region, from Durham, Northumberland, Cumbria and the Scottish Borders.