Cynergy Bank Announces Asset Based Lending Offering To SME Businesses
Cynergy Bank is pleased to announce that is has developed an Asset Based Lending offering for SME businesses that want to scale up and grow. It will provide between £200,000 and £20,000,000 to businesses.
Borrowing against business assets such as receivables, plant & machinery, inventory and property can provide a flexible, fast and efficient way to pursue new business opportunities for a number of different objectives including; growth, acquisition, turnaround and expansion.
Along with receivables, future offerings will include cash flow loans and provide complementary export/import and construction sector propositions.
The blend of traditional relationship management and the bank’s developing digital technology will enable the team to focus on delivering an exceptional customer experience.
The asset based lending leadership team, with over 85 years of collective experience in commercial and corporate lending, is well placed to drive the business forward and position it as a leader in the field.
The new team consists of:
Dave Golding, with an excellent senior corporate bank and non-bank lending background, has a passion for developing diverse and highly skilled teams who support SME lending across an extensive range of business sectors. He has developed a top tier professional support network who work closely together in preparing companies for fast and profitable growth.
Ted Winterton has over 25 years’ experience of Asset Based Lending at senior and board levels. As a commercially astute leader, he fosters a culture of excellence and creates imaginative business solutions, which together promote outstanding client relationships and generate long term sustainable value for clients, colleagues and intermediaries.
Dan Burton has a strong background of successfully leading teams in structuring an array of complex and demanding client lending solutions across a broad mix of business sectors, often involving close collaboration with turnaround professionals and corporate advisors.
Paul Fraser has extensive experience in commercial and corporate lending, working closely with accountants, advisors, brokers and private equity. He has considerable depth of expertise and boundless enthusiasm for businesses trading internationally, the construction sector and M&A transactions.
Nick Fahy, CEO of Cynergy Bank, commented, “We are delighted to begin offering asset based lending products which will assist SME’s growth, post pandemic and beyond.
Access to government-backed low-cost finance and other financial support schemes, has played a significant part in supporting SMEs during the pandemic; however, this support will soon come to an end. Asset Based Lending is uniquely placed to support businesses, as the flexibility of the products offered allows banks to react and respond to the ever-changing economic landscape.
The new team’s significant expertise and experience will be instrumental in creating the best products for our clients.”
People In This Post
Companies In This Post
- JUMO Launches First-of-its Kind Asset Management Engine, VELA Read more
- Digital-First Life Insurance Platform Amplify Announces New Investment Round Led by Munich Re Ventures Read more
- $4 billion in illicit laundered through cryptocurrency transfers Read more
- Frank Molla, BPC – Enabling Customer Choice Read more
- ACA Group expands electronic communications surveillance capabilities in ComplianceAlpha® Platform Read more