National law firm Clarke Willmott LLP has advised ethical lender Triodos Bank UK on the provision of a loan to not-for-profit, Broadband for the Rural North (B4RN).
B4RN, a pioneering community benefit society delivering full fibre, high-speed broadband to some of the UK’s most rural communities, connects areas that mainstream providers have considered commercially unviable.
The new funding package will enable B4RN to expand into more underserved areas of the North and North East, including Northumberland and County Durham.
Partners, Bethan Evans and Fraser MacRae were supported by Harvinder Kandola, Ayesha Davies and Sarah Mogford, who led Clarke Willmott’s advice to the bank on negotiating the terms of the finance documents, structuring, due diligence and security issues.
“We are delighted to support long-standing client Triodos Bank in this important deal providing finance to B4RN, a project that makes a real difference to rural communities and aligns closely with our commitment to socially responsible and sustainable initiatives,” said banking and finance solicitor, Bethan.
“The project also demonstrates how collaboration between banks, volunteers and local stakeholders can create lasting social and economic benefits in areas often overlooked by traditional providers.
“We were reappointed to Triodos Bank UK’s commercial lending panel last year and this is another example of a deal we’re really proud to have worked on together. By providing a strong multi-disciplinary service comprising expertise in banking, commercial property, corporate, construction and more, we deliver cohesive and effective legal advice.”
B4RN started in 2011 and depends on local volunteers, investors and landowners to bring its projects to life. Since then, the group has grown significantly, with more than 15,000 customers connected and a target to reach over 20,000 in the next five years.
Today, thousands of homes, farms, schools, businesses and community hubs across northern England have access to reliable gigabit broadband.
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