The additional capital, provided by independent SME funder Bibby Financial Services, will fuel The Black Farmer’s expansion into hight street retail premises.
Wilfred Emmanuel-Jones MBE, managing director of The Black Farmer, said: “We’re a pioneering company leading the way for black British businesses and agricultural entrepreneurs. I’m passionate about maximising the untapped potential of small businesses and wanted to collaborate with a likeminded partner.
“We needed the confidence that our funder is both an expert in their field and committed to supporting our goals. BFS provided exactly that. They engaged with our ambitions from the start, working to understand our business. Their offer of an extended funding limit and a higher advance rate was a perfect solution and demonstrated their confidence in our business. We look forward to working with the BFS team as our business continues to grow.”
Higher funding line
Bibby was selected as a funding partner because it was able to offer a higher funding line and advance rate than other third-party finance providers. As part of the deal, The Black Farmer elected to handle its own credit control.
The transaction was led by Colin Johnson, corporate manager at Bibby Financial Services, who said: “We’re excited to support The Black Farmer Ltd with its growth plans. Our deep understanding of the operational pressures facing small business owners means we could offer a greater level of liquidity than other funders and provide a solution tailored to meet the firm’s specific needs.
“Given The Black Farmer’s focus on international trade, the FX service we’re providing is a significant added value element of the overall deal we structured. It will enable The Black Farmer to streamline its operations and better protect its margins in the face of potentially corrosive rate variations.”
Birth of The Black Farmer
Born in Jamaica, Emmanuel-Jones grow up in a ‘rough part’ of Birmingham, UK and left school with no qualifications – a fact he blamed on his undiagnosed dyslexia in his youth. Spending his early life in catering, he found his big break when he secured a position as a runner for the BBC in 1987 thanks to his connections.
From here, Emmanuel-Jones worked his way up to producer-director of the BBC Food & Drink programme, where he helped to launch the small screen careers of chefs such as Gordon Ramsay, Brian Turner and James Martin.
In 1994, he finally fulfilled his dreams of owning a farm. A decade later, and inspired by the nickname given to him by his neighbours, Emmanuel-Jones struck out with his own brand The Black Farmer in 2004.
You can find out more about The Black Farmer’s history, his battle with cancer and what drives him and his business to succeed in our Big Interview with the man.