Cynergy Business Finance (CBF), the asset-based lending arm of Cynergy Bank, has agreed to provide a £550,000 invoice discounting facility to Care At Home Group (CAHG).
After being introduced by Summed Up Accountancy Services, CBF engaged with CAHG to gain a deep understanding of the business and its strategic objectives.
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CAHG, which was established nearly three decades ago, offers home support services to individuals with complex care needs.
This financial support is aimed at bolstering CAHG’s working capital, enabling the continuation of its essential services and supporting its expansion plans.
CAHG has seen a period of growth, with an increasing demand for its services across the North West, including branches in Cheshire, Wirral, and Warrington.
The additional working capital from the invoice discounting facility is crucial for maintaining current operations and realising future growth ambitions.
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By GlobalDataCBF offers a variety of financial solutions, providing funding ranging from £500,000 to £20m to eligible SMEs.
These include cash flow loans, export-based receivables financing, and financing for business assets such as revolving assets and fixed assets.
Cynergy Business Finance corporate sales manager Sarah Harrison said: “CAHG has demonstrated impressive growth in the past few years, driven by the team’s collective expertise and dedication, and their ambitions for their growth and future are incredibly compelling. We are pleased to have been able to offer CAHG a flexible ABL facility that will provide the additional working capital they need to continue growing.”
Care at Home Group group finance manager Anthony Mee said: “At Care at Home Group, we are committed to providing the best possible home support services and it is our ambition to become a market leader in the standards that we set. We have seen significant growth in recent years, and it is crucial that we have the necessary working capital to sustain this growth.”
Earlier this month, CBF extended a £2.5m asset-based lending facility to Aeromet International, a supplier of flight-critical parts with over 40 years of experience.
CBF collaborated with Privet Capital and the Aeromet team to structure a flexible ABL facility that provides additional working capital to assist Aeromet through its next growth phase.
