As of last week Loch Duart has secured £1.2 million funding to modernise its processes.
The money, from HSBC, will enable us, to continue developing sustainable farming methods and go towards additional new feed barges. The new barges will provide reliable, efficient and less labour-intensive means of delivering sustainably-sourced feed to the farm’s award-winning salmon.
Simon Maguire, financial director of 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.”
Grant Bett, relationship director of 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.”
This deal is part of HSBC UK’s £650 million lending fund to support small and medium-sized enterprises (SMEs) in Scotland. Read more here