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Thursday, June 20, 2024
Business supportCynergy Business Finance provides £150m of funding facilities in first year

Cynergy Business Finance provides £150m of funding facilities in first year

Cynergy Business Finance (CBF), the asset-based lending (ABL) arm of Cynergy Bank, has surpassed £150m in funding for UK small and medium-sized enterprises (SMEs) since its launch in September 2021.

Providing individual facilities between £200k – £20m, CBF funds against businesses’ receivables as well as plant and machinery, inventory, and property.

Since launching, CBF has supported over 100 businesses, providing versatile ABL funding facilities to help them maximise their potential. Operating across a range of different sectors, CBF is on its way to being the first-choice funding partner for aspiring SMEs.

CBF is part of the £3bn+ human-digital bank – Cynergy Bank.  The team is spearheaded by Dave Golding, Ted Winterton, Dan Burton and Paul Fraser who operate across the UK, with key operational offices in Manchester and London.  The team has quickly established itself as one of the most proactive and competitive ABL funders in the UK.

Clients include family-owned Manchester brewers, Seven Bro7hers.  A £250,000 funding line helped them to meet orders from increased demand from retailers and wholesalers, supported the launch of a new range of products and enabled the opening of new outlets in Liverpool and Manchester airport.

Dave Golding, Managing Director at CBF, said: “The team has achieved extraordinary success over the last 12 months, delivering valuable lines of funding to exciting and fast-growing businesses in the UK.  From young, family-owned businesses to more mature PE-backed corporates, we have been able to create value and facilitate growth following a difficult couple of years for UK SMEs.

“With the multitude of macro-economic and political challenges affecting businesses right now, there are lots of good businesses with great potential that are unable to access the best funding.  We are confident ABL can support many of them, and we are dedicated to making it easier for our clients and wider network to understand its value.  There are huge opportunities for businesses that embrace ABL, and we are excited to support them.”

Sam Allcock
Sam Allcock
With over 20 years of experience in the field SEO and digital marketing, Sam Allcock is a highly regarded entrepreneur. He is based in Cheshire but has an interest in all things going on in the North West and enjoys contributing local news to the site.
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