The Old Rectory Residential Home

Cynergy Bank provides £7.35m refinancing loan to ACI Care Group




Cynergy Bank has completed a £7.35m loan for family-run care home operator, ACI Care Group.

The five-year term loan will support the refinancing of the group’s four specialist care homes — Fairways Residential Home, The Old Rectory Residential Home, Mountside Residential Home and Gabriel Court.

The four institutions, based in Kent, East Sussex, and Northamptonshire, offer various services covering dementia care, residential care and respite care.

Ravi Sodha, director at ACI Care Group, said: “We are really excited to work with Cynergy Bank — from start to finish, it has shown its enthusiasm for the care sector and for us as an operator, so that we can plan for the future.”

Satyen Shingadia, relationship director at Cynergy Bank, commented: “It has been a fantastic experience to work with Anand [Sodha, director at ACI Care Group] and Ravi, and I look forward to working with them in achieving their future plans to expand further into the care home sector.”

In February, Cynergy Bank announced it funded approximately £100m of loans to care home businesses since June 2021, with £60m approved in 2022 alone.

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