Cynergy Business Finance (CBF), the asset-based lending (ABL) arm of Cynergy Bank, has surpassed £200m in funding for UK small and medium-sized enterprises (SMEs) since its launch in September 2021.

With operating offices in London, Birmingham, Manchester and Edinburgh, CBF provides individual facilities of between £300k and £20m to SMEs across the UK. Dedicated to providing customised and versatile solutions, CBF provides funding in support of a business’s receivables, plant & machinery, inventory, and property. A new block discounting solution was also launched earlier this year.

Having launched 18 months ago, CBF has support over 127 businesses to-date. Many facilities have been provided to businesses that have strong environmental principles, including Etesian Green, that focuses on micro, off-grid, wind and solar power, Puredrive who are pioneering the storage options of solar power and Ecoserv, who provide sustainable facility management services.

Dave Golding (pictured), managing director at Cynergy Business Finance, said: “The CBF team has continued to work tirelessly to support innovative businesses across the UK to scale and grow their operations. This latest milestone further evidences our commitment to working with a variety of different businesses, no matter the sector or level of maturity. It also showcases the extensive expertise and dedication of our team in delivering on this commitment.”

“As the UK continues to face a variety of different challenges, supporting SMEs with the funding to adapt to changing market conditions and seize new opportunities should remain a priority. With the flexibility that ABL provides to businesses, we’re confident that such funding can help SMEs to scale and, ultimately, help to push forward the wider economy. At CBF, we’re excited to partner with likeminded businesses to help achieve this collective aim.”