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Young Farmer Loan Scheme ready to roll

Supporting the farming community has always been an integral part of Enterprise Answers business model and the creation of the Young Farmer loan scheme to run alongside the business support programme, “Farming ambition – Business Support for Young People” is testament to their commitment.

“When we heard The Princes Trust were withdrawing their existing loan facility, which was in place until the summer of 2019 to run alongside the Farming Ambition program, we felt the urge to respond with a replacement scheme” said Enterprise Answers Chief Executive, Grahame Latus.

“We recognise that many agricultural businesses are family businesses and the next generation will  require support and assistance to continue running”.

Through engaging with Kate Gascoyne of The Farmer Network based at Newton Rigg College in  Penrith, Enterprise Answers were able to set up a collaboration that would  drive the initiative forwards and ensure the support scheme to young farmers could remain in place with capital for the loan fund provided by Carlisle based H&H Group.

H&H Group Chief Executive, Richard Rankin said, “What we are looking to do is to connect with the next generation and entrepreneurship and to encourage young farmers to remain in farming, look at the wider picture, identify opportunities and diversify if necessary”.

Kate Gascoyne of The Farmer Network commented, “We are excited to be working with Enterprise Answers and H&H Group. It’s always extremely rewarding to see a young person with an initial idea seeking this support and seeing their plans come to fruition”.

Applying for the fund has been kept as simple as possible. The applicant should be from a rural or agricultural background and the project or enterprise they are planning should be farming-related and benefit or service the rural community.

“These are challenging times for farming and rural communities” concluded Grahame. “If we can do our bit to support and assist in rural areas, especially with the young or next generation, enabling them to realise their creativity and unleash their potential, it will go some way to enhancing the economic viability of our countryside”.

For more information, including case studies of previous applicants, please visit the Farmer Network website

For further details of the range of loan finance available from Enterprise Answers, please visit their website

Details of the range of services provided by H&H Group for agricultural and rural businesses can be found on their website