An anaerobic digestion plant is now up and running through support from peer-to-peer funding specialists F&P.
BioDynamic UK was listed on a P2P platform and secured £1.5m needed to complete the project based in Colwick, Nottinghamshire.
Maxwell Bagnall, owner of BioDynamic UK, said: “In our industry we have to be fast-moving otherwise subsidies and grants will expire and opportunities will be missed.
“Traditional lenders see the risk as being too high, but are more comfortable once the facility has been built.”
Security was taken on the site owned by Biodynamic UK on which the plant was built.
The company have now gone on to secure additional funds of nearly £750,000 to expand the plant further.
Bagnall added: “We have real confidence that should the business require further expansion, or we move on to set up a different project, we have a faithful partner in F&P that will support and understand us throughout the process.”
Ivor Freedman, director at F&P, commented how difficult it is facing rejection from traditional lenders, “It is a common problem, and one that we are able to solve quickly with our approach to P2P.”
