Cynergy Business Finance (CBF) has surpassed £150m in funding for 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 ABL funding facilities to help them maximise their potential.
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.”
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.
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.
CBF also provided support to Cheltenham-based Puredrive Energy.
Puredrive Energy designs, develops, and distributes solar energy storage solutions to customers both in the U.K. and internationally, and CBF provided a £4m facility to support the company’s expanding R&D plans, whilst also supporting their global order book.
Golding added: “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.”
