A NORTH Yorkshire agricultural machinery supplier is set to plough on with growth plans after securing a £5 million funding package.

Ripon Farm Services is using the finance from HSBC to redevelop its main site in Dallamires Lane by adding two new buildings.

These will allow the company to increase its services to the public, including its paint and body shop. The buildings also provide additional space for its agricultural parts and sales.

The funding package includes £3.5 million which will go towards the new premises and £1.5 million for working capital.

Currently employing 184 people with a turnover of around £55 million, the new site will create 15 new jobs in the area and Ripon Farm Services expects to increase its turnover by five per cent over the next year.

Finance director Nick Riley said: “We’re delighted to be receiving financial backing from HSBC which will take our company to the next level.”