The British Business Bank has agreed an ENABLE Guarantee transaction of up to £100m with Cynergy Bank to help its asset-based lending arm, Cynergy Business Finance, expand its lending to UK small businesses.
The transaction will support Cynergy Business Finance’s invoice finance lending and is the first ENABLE Guarantee to support this asset class.
The ENABLE Guarantee programme is designed to encourage additional lending to smaller businesses. Participating institutions are incentivised by a government-backed guarantee to support defined portfolios of debt finance in return for a fee.
Cynergy Bank has been supporting business owners, property entrepreneurs and family businesses in the UK with their financial needs since its launch in 2018. Cynergy Business Finance was then established in 2021.
In combination with the invoice finance facilities, Cynergy Business Finance also offers cashflow loans and other asset-based lending products such as lending secured by inventory, real estate, or plant and machinery.
Michael Strevens, managing director of structured FI solutions at the British Business Bank, said: “This innovative transaction, using the ENABLE Guarantee to support invoice finance lending for the first time, continues the momentum we have created in 2025 so far. Our relationship with Cynergy Bank is well-established, and we have seen their support for the UK small business sector demonstrated over the last five years through their delivery across several of our programmes. This transaction strengthens that relationship and will unlock the vital capital their customers need.”
Ted Winterton, managing director of Cynergy Business Finance, added: “Cynergy Bank has previously partnered with the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS), British Business Investments (BBI) and Recovery Loan Scheme (RLS) programmes. It is fantastic to build upon this strong relationship which will help Cynergy Business Finance continue to grow and support UK SMEs across the country in a wide variety of industry sectors.”
