Cynergy Business Finance (CBF), the asset-based lending arm of Cynergy Bank, celebrates its second year of operations, having supported 211 customers and reaching funding limits of £346m.
Since its inception in late 2021, CBF has been dedicated to offering custom financing solutions to UK SMEs, enabling them to reach their growth aspirations.
The lender provides bespoke facilities ranging from £500k to £20m and works with a growing network of 95 advisors. CBF’s financing solutions are flexible, typically secured against business assets such as receivables, plant and machinery, inventory, and property.
In the past year alone, CBF has aided 118 UK businesses, a 27% increase from the previous year. The lender’s sector-agnostic approach has seen the largest growth in the services sector, which constitutes 34% of CBF’s clientele, followed closely by manufacturing at 29%.
CBF’s recent financial engagements include a £4m facility to Ebac, a County Durham-based company, for the expansion of sustainable heat pump products, and a £2.5m facility to fashion supplier Beverley Hills International, which is poised to accelerate growth in Asia and America.
Dave Golding, managing director at Cynergy Business Finance, commented on the milestone: “Over the past two years, we have seen strong growth which is a testament to the team’s hard work and the trust our customers have in us.
“In a short period of time, we have already established ourselves as a key provider in the market.”
