Supporting Farmers and Food Producers
Oxbury, the neobank dedicated to farming and agriculture, has obtained a £100m guarantee against its existing pool of loans from the British Business Bank. This guarantee, obtained through the BBB’s ‘Enable’ program, will allow Oxbury to provide an additional £45m of lending.
Focusing on Food Security and Sustainability
Oxbury’s mission is to assist farmers and food producers in addressing the challenges of food security and transitioning to low-carbon, nature-friendly production. Tim Coates, co-founder and chief customer officer at Oxbury Bank, stated, ‘Our relationship-led approach, made possible by our proprietary Oxbury Earth Agtech banking platform, is crucial in serving the needs of the small and medium businesses that are the backbone of the British economy.’
Growth and Achievement
Oxbury, based in Chester, is approaching its third anniversary. Despite launching during the pandemic in early 2021, the bank has experienced significant growth. Its lending book now amounts to £750m in total committed and in-progress loans, and it has accumulated £1bn in savings deposits from both farm businesses and consumers. Oxbury achieved break-even profitability earlier this year.