A Scottish salmon farm has been able to purchase new feed barges to make its operations more efficient and less labour-intensive after securing a GB£1.2m asset finance facility from HSBC UK.
Loch Duart will use the additional barges to free up its employees from repetitive manual labour and enable them to develop of sustainable farming methods endorsed by the RSPCA, such as long-term rotational fallowing and environmental enrichment practises.
Simon Maguire, financial director at Loch Duart, said: “The new barges improve the safety of our staff, which is a priority for us, and enables them to take on more skilled work within the company. The funding from HSBC UK has enabled us to take a natural next step in enhancing our processes as we look for opportunities to grow the business and broaden the supply of our award-winning salmon.”
SME fund
Grant Bett, relationship director at HSBC UK in Scotland, said: “The team at Loch Duart continues to innovate, finding new ways to streamline the business and prioritise its staff as the key employer in the local communities.
“We’re delighted to support this next step for what is a truly ambitious Scottish business, with an excellent success story, as they continue to deliver world-class, acclaimed premium Salmon which is exported globally and served in various Michelin-starred restaurants around the UK.”
The deal is part of HSBC UK’s GB£650m lending fund to support small and medium-sized enterprises (SMEs) in Scotland.
