Agricultural organisation NFU Scotland has forged a new partnership with Anglo Scottish Asset Finance, a County Durham-based business finance broker.
This collaboration has led to the creation of NFU Scotland Finance, a dedicated division to provide bespoke business finance solutions to NFU Scotland’s 9,000 members.
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NFU Scotland Finance will extend a range of financial services, including tailored loans, commercial mortgages, asset finance, business credit cards, and refinancing solutions.
These products are made to specifically address the needs of NFU Scotland members, supporting their attempts to grow their businesses and be more sustainable.
Established in 2007, Anglo Scottish Asset Finance brings nearly two decades of experience in supporting businesses with finance solutions.
The company has funded various agricultural machinery and vehicles, as well as backed diversification and green energy projects within the agricultural sector.
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By GlobalDataAnglo Scottish head of agriculture and food finance Andrew Laird will lead the new NFU Scotland Finance division.
He will be supported by a team of specialists in farming finance.
The team’s strategy includes direct engagement with NFU Scotland members and participation in events to discuss commercial opportunities and new projects.
NFU Scotland CEO John Davidson said: “This partnership is built on a shared philosophy to help NFU Scotland’s members to achieve sustainable and profitable businesses.
“We have seen how impactful and innovative our members can be when they are supported by reliable financial services, and we expect many of them will use this opportunity to grow their businesses, and thus create a stable future for Scottish agriculture.”
Laird added: “As an organisation, NFU Scotland is dedicated to representing and advancing the interests of farmers and crofters in Scotland.
“By joining forces to become NFU Scotland Finance, we are committed to providing NFU Scotland members with tailored commercial finance and asset finance solutions to help them achieve their growth and diversification objectives.”
In other UK finance news, the British Business Bank’s latest Small Business Finance Markets Report indicates a positive trend in the UK asset finance sector.
The tenth edition of the report, covering the period from 2014 to 2023, shows a 7% increase in new business for the asset finance sector, with figures reaching £23.5bn last year.
