Oxbury Bank, a UK-based challenger focused on the agriculture sector, has secured £25 million in Tier 2 capital funding from British Business Bank subsidiary British Business Investments.
The Tier 2 capital facility will enable Oxbury Bank to lend an additional £250 million to small and medium-sized British businesses across the remainder of 2022 and through 2023.
The funding comes as Oxbury looks to continue to grow its lending across the British farm and food sector to support firms amid ongoing challenges facing the UK’s food supply chain and the transition to long-term sustainability.
It follows £20 million worth of equity raised in July, with the total capital raised by Oxbury Bank having now reached £93 million.
Oxbury says its strong performance since launch means it is forecast to break even by the end of the year.