Tyn-Y-Ffridd Farm, a flourishing holiday and residential lettings business sprawled across 70 acres near Bangor in North Wales, is poised for further expansion following a £890,000 funding boost from Reward Funding.
The farm, nestled close to Snowdonia and the motorway linking Anglesey, had faced a setback when banks withdrew support, but the alternative finance solution has paved the way for ambitious growth.
Owned by entrepreneurs Sarah Thomas and David James, the farm endured severe disruption during the COVID pandemic. Since then, the pair have poured efforts into redevelopment, diversifying into holiday cottages, camping, corporate events, weddings, and yoga retreats.
The business has seen consistent revenue increases over the past two years, yet required additional working capital to maintain its upward trajectory.
David James, co-owner of Tyn-Y-Ffridd Farm, said: “Although thankfully well behind us now, we can’t underestimate the impact the pandemic had on the business at the time and the scale of the challenge and rebuild needed ever since.
“We’ve fortunately gone from strength-to-strength by developing our holiday and private rental properties and expanded into new areas such as weddings and corporate events.”
He added: “Few businesses can enjoy the growth we’ve experienced without external finance, which is why we were relieved when Reward stepped in to support us when the bank removed its funding. The flexibility and pace of lending has ensured we’ve not stood still and are now in a position to expand the business further over the next 12 months.”
With traditional banking options no longer viable, the farm turned to Reward Funding, a provider of asset-secured finance tailored for entrepreneurs and growing businesses.
Mike Calvert, Reward Funding’s business development director in the North West, said: “Sarah and David have worked tirelessly to develop the holiday park into a hugely successful business, that has continually diversified into new markets and revenue streams. Being able to both understand their challenges and react at speed meant that we could provide a finance solution that is critical to their business momentum and ensuring the progress achieved to date is not lost.”
Calvert highlighted a broader trend, noting: “Tyn-Y-Ffridd Farm is unfortunately one of a growing number of businesses that increasingly struggle to secure funding through traditional banks. It can stifle many firms by preventing them from expanding, recruiting or seizing market opportunities, which ultimately has an impact on the wider economy across North Wales. We’re delighted to be in a position to offer an alternative solution that unlocks further growth.”
The funding deal was facilitated by Adrian Barlow of Commercial Funding @75point3, part of the 75point3 group with offices across North Wales. Barlow said: “What I really like about the team at Reward is that they go the extra mile, meeting with David and Sarah in a very short timescale to understand their business needs and funding requirements. The finance solution provided has enabled Tyn-Y-Ffridd Farm to both consolidate but more importantly – expand and drive the business forward.”
