cynergy bank

Cynergy Bank hits £3bn lending milestone

Cynergy Bank has announced it has lent over £3bn to SMEs, property entrepreneurs and homeowners since its launch.

The milestone lending figure includes over £317m lent to SMEs via the British Business Bank’s Coronavirus Business Interruption Loan Scheme (CBILS), and approximately £100m of loans provided to care home businesses since June 2021.

This also follows the launch of its asset-based lending proposition — which offers facilities between £200,000 and £20m to businesses looking to scale up — and the opening of its Scotland office as part of its mission to expand its regional footprint.

Nick Fahy, CEO at Cynergy Bank (pictured above), said: “Lending over £3bn is a huge accomplishment and we are very proud of the progress we have made to date.  

“Although the pandemic has been challenging for many businesses, we have witnessed the resilience of UK SMEs as they continued to borrow to fund investments for the future of their businesses.  

“Cynergy Bank has gone from strength to strength — we have grown during a period of restricted risk appetite and our book has remained resilient through the economic uncertainty brought by the pandemic.  

“Our aim is to create a human digital bank that provides a personalised service to our customers, which is enhanced by the latest technology. 

“I am proud of the support we have given and will continue to give to these businesses especially during a period that saw much uncertainty.”

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