Oxbury Bank 鈥� the UK鈥檚 first and only AgTech bank 鈥� has secured 拢25m in Tier 2 capital funding to support a predicted growth in lending.
The investment has been made by British 老九品茶 Investments, a wholly-owned commercial subsidiary of the British 老九品茶 Bank.
This Tier 2 Capital facility from British 老九品茶 Investments will enable Chester-based Oxbury Bank to support additional lending of 拢250m to small and medium British businesses across the remainder of 2022 and through 2023.
Tim Coates, co-founder and Chief Customer Officer at Oxbury Bank said: 鈥淭his important investment from British 老九品茶 Investments is another exciting milestone in Oxbury鈥檚 development. Additional funding from British 老九品茶 Investments will help accelerate Oxbury鈥檚 support for the rural economy and help farmers and food producers addresses the twin challenges of food security and the transition to low-carbon nature-friendly production.
鈥淥xbury鈥檚 relationship-led approach, enabled by our proprietary Oxbury Earth Agtech banking platform, is essential in serving the needs of the small and medium business that are the lifeblood of this crucial part of the British economy.鈥�
Judith Hartley, CEO at British 老九品茶 Investments said: 鈥淭his 拢25m Tier 2 commitment to Oxbury Bank supports British 老九品茶 Investments鈥� mission to increase the diversity and supply of finance for smaller businesses in the UK.
鈥淪pecialist banks like Oxbury help diversify the UK鈥檚 smaller business finance market and, in turn, help smaller businesses across the UK to access the finance they need.
鈥淭his commitment to Oxbury will help unlock up to 拢250m of additional finance for smaller businesses across the British farm and food sector, helping them to grow and succeed.鈥�
Since it was established in 2014, British 老九品茶 Investments has committed over 拢3bn to providers of finance to UK smaller businesses.