1 October 2021: 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.”
Contact the asset based lending team to find out more:
Ted Winterton, Director- email@example.com
Dave Golding, Director – firstname.lastname@example.org
Dan Burton, Executive Director – email@example.com
Paul Fraser, Executive Director – firstname.lastname@example.org