Meet the lender – Luke Fitzsimmons from Cynergy Business Finance

Welcome to the latest in our Meet the Lender series. This month, we’re chatting to Luke Fitzsimmons from Cynergy Business Finance. Luke talks about trends he’s seeing in the market, how businesses can approach funding for the first time and what motivates him in his role. It’s also a chance to learn more about Cynergy’s funding offer and our work together.

What trends are you currently seeing in the market?

We’re seeing signs that the UK economy is recovering, with improved liquidity among SMEs. Those that traded through the pandemic have continued to lower gearing and repay government-backed support, which in turn is allowing them to focus on growth. This is also having a positive effect on the transactional market, with more buyers turning to asset-based lending to facilitate deals and using different asset classes on the balance sheet. From a lending perspective, we’re continuing to see digital transformation in the sector, with integrated technologies improving processes and making the customer journey easier.

What advice would you give to businesses seeking finance for the first time?

Start the journey as early as possible and have a clear understanding of your needs and why you’re seeking finance. Getting your financials in order and building a robust forecast model helps you understand your working capital cycle and compare which funding product is right. Working with an advisor can help you compare the market, understand the facility on offer and build a strong relationship with a lender.

Do you foresee the lending market changing in the next few years?

I think we’ll see continued integration of technology, especially AI, into the lending space. Hopefully, this will improve the customer journey in terms of speed and decision-making.

What motivates you personally in your work as a lender?

Seeing the impact our funding has on SMEs and local communities, as well as building relationships with introducers who trust us to support their clients.

How long have you been working with Evolve Business Finance and how has the partnership benefited your business?

I’ve known Stef for over 10 years and we’ve worked on numerous deals in that time. We completed Cynergy’s first deal with Evolve in 2023.

Can you share something people might be surprised to learn about you?

My first job at 15 was working on a market stall in Liverpool city centre, where I stayed until I graduated from university.

And finally – what products and funding sizes do you support?

We offer funding lines from £500,000 to £25 million across:

• Invoice finance
• Asset finance
• Stock finance
• Property finance
• Cash flow loans