0.5 C
Manchester
Wednesday, March 19, 2025
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.”

News Desk
News Deskhttps://www.businessmanchester.co.uk/
The Business Manchester News Desk team is a collective of experienced journalists and editors dedicated to delivering comprehensive business news and insights from the Manchester area and beyond. With a strong background in finance, technology, property, and innovation, our team ensures that our readers stay well-informed about the latest trends and developments in the business world. Through in-depth reports and insightful analysis, the Business Manchester News Desk team is committed to providing high-quality journalism to its audience.
Latest

Security Alert Issued Over New Blowtorch Burglary Technique

Homeowners are being urged to take extra security precautions as reports of break-ins involving blowtorches have increased across the north of England. Colin’s Sash...

F1 Australian Grand Prix 2025: Report, result, highlights as Norris savours ‘stressful’ win

Lando Norris praised McLaren's "amazing car" after overcoming unpredictable conditions to beat reigning champion Max Verstappen and win the F1 Australian Grand Prix 2025...

Why hiring a web design agency is the smart choice for your business

In today’s digital-first world, having a well-designed website is essential for any business. Whether you’re a start-up or an established brand, your website serves...

Restoration of Grade I listed Rochdale project completes

A stunning space within Rochdale Town Hall, which has been closed for almost half a decade, will open its doors once again following an...
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

Tom Crowther KC to chair Oldham child sexual exploitation inquiry

One of the most respected figures in the field of effectively tackling child sexual exploitation (CSE) has agreed to chair an independent local inquiry...

The 5 Most Common Late Payment Excuses Costing UK Businesses Millions

New Report Highlights the Growing Problem of Unpaid Invoices Late payments remain a persistent threat to UK businesses, tying up billions of pounds in overdue...

F1 Australian Grand Prix 2025: Report, result, highlights as Norris savours ‘stressful’ win

Lando Norris praised McLaren's "amazing car" after overcoming unpredictable conditions to beat reigning champion Max Verstappen and win the F1 Australian Grand Prix 2025...

Manchester businesses unite to raise £12,000 for charity

Manchester's highest restaurant and European law firm came together for a charity dining event. 20 Stories and Fieldfisher, both located in Spinningfields, raised £12,000 for...

More News

New public procurement workshops running in Tameside

Businesses in Tameside are urged to make the most of major changes to public contract procurement. A fully funded workshop by GM Business Growth Hub...

How to rebrand successfully without losing your audience

Rebranding is a significant step for any business—it’s a chance to refresh your image, redefine your mission, and reconnect with your audience. However, it...

A manual for picking the right ‘gathering room gear’ for your business

In the present speedy business climate, the gathering room has turned into a fundamental space for cooperation, navigation, and correspondence. Whether it's a meeting...