The Cherry Hill story...

There’s a future in potatoes

Cherry Hill Coolstores in Northern Tasmania has always been focused on innovation and improvement. Their latest ambitious plan was to expand their facility, increasing capacity and services for the Tasmanian agricultural industry.

While the seed of an idea had been planted – they found it difficult to secure a loan for their expansion. That’s when they turned to us for help.

The vision

More than simply a family business, Cherry Hill Coolstores has proudly supported the Tasmanian produce industry for over 30 years. Nestled in Latrobe, the company operates as an intermediary between farmers and processors - offering seed, potato, and vegetable storage facilities, and services in processing, grading, cutting, and bulk uploading.

Cherry Hill Coolstores has always been at the forefront of innovation, driven by the passion and vision of its owner, Andrew Langmaid. Over the years, the company has pioneered several initiatives to improve processes within the produce industry.

Despite their profitable operations, Andrew was busy planning the next stage of development! His planned expansion would allow Cherry Hill Coolstores to contribute to the local community – supporting local farmers with greater storage capacity for their produce, as well as providing seasonal employment opportunities.

The issue

“MCMF was able to step in where the traditional banking system couldn’t.”

While plans were underway - the company found it challenging to secure the necessary funding for expansion. Despite Andrew's best efforts, the traditional banks declined his loan application due to its complex requirements. Undeterred, Andrew began exploring alternative lending solutions – and he approached MCMF.

The solution

“The MCMF system is very easy – simple and straightforward.”

During our first meeting with Andrew, we were struck by his drive and dedication to the industry – and we knew we wanted to support his business and vision for the community. Applying our expertise in processing specialty, hard-to-finance structures, we delivered a solution that suited Andrew’s needs.

Andrew gratefully acknowledges our role in enabling the expansion to move forward. He particularly appreciated our straightforward application process, which contrasted against his previous experiences with traditional banks.

The outcome

“We see an extremely bright future.”

Since securing funding through MCMF, Cherry Hill Coolstores has doubled its storage capacity, now capable of storing up to 20 tonnes of product. Andrew and his team have also developed custom-built boxes that enhance storage and improve ventilation, overcoming issues related to inclement weather.

Andrew is excited for the agricultural industry, and looks forward to integrating new and emerging technologies in his operations. As he looks to the future, Andrew looks to consolidate Cherry Hill Coolstores' place as an industry leader – and he is grateful for MCMF’s support in reaching this position.

It’s our honour to have supported Cherry Hill Coolstores as a driving force within the industry, facilitating Andrew’s clear vision for the future of Tasmanian agriculture and community.