U.K.-based Cynergy Bank will begin offering loans to local self-storage operators and investors, including those for facility acquisitions and refinancing. The company cited the industry’s growth and trading volume in the region as reasons for its interest in the sector. The lender has also joined the Self Storage Association of the United Kingdom to help connect it to interested businesses, according to a press release.
“The self-storage sector has demonstrated year-on-year growth and has proved to be very resilient,” said Kenny Stewart, head of commercial banking for Cynergy. “Cynergy Bank’s mission is to offer the U.K.’s scaling businesses a real alternative to mainstream lenders. With our knowledgeable relationship managers, we quickly learn our customers’ needs, understand the market and can deliver certainty at speed.”
Launched in 2018 by entrepreneurs, Cynergy has provided more than £2.6 billion in lending to U.K. businesses, the release stated.