Cynergy Business Finance provides £3m of funding to ethical beauty product brand
Award-winning natural beauty products brand, Faith in Nature, looks to expand its manufacturing and business capabilities with a £3m funding boost from Cynergy Business Finance.
Founded in a cottage kitchen in 1974, Radcliffe-based Faith in Nature has expanded from its initial offering of plant-based face creams and shampoos to include body washes and soap. Its products are now stocked in more than 40 countries across the globe. Offering an ethical and cruelty-free alternative to high-street brands, its products are vegan, 100 per cent recyclable and naturally fragranced.
The purpose of this facility was to provide a more flexible funding solution that would assist Faith in Nature in achieving their ambitious growth plans. The business has been on a journey to considerably expand their facilities in order to greatly increase production and drive future growth. As a result, they required a more suitable working capital facility that was structured to meet their own unique circumstances and better support their day-to-day requirements.
The versatile lending facility can be adapted as Faith in Nature continues to prosper, helping to propel it into its next stage of growth.
John Allaway, managing director, Faith in Nature, commented; “Having worked with Cynergy Business Finance for several years, we have always found them to be understanding and collaborative throughout our exciting journey. It’s good to work with a bank with such a wealth of experience, with people who are able to create unique solutions and put in the extra effort to support the business at critical pinch points. It feels like we are working in real partnership with them.”
Danny Monksfield, corporate sales manager, Cynergy Business Finance, added; “It has been a pleasure to work with Faith in Nature to significantly improve their working capital facilities. This is a fantastic example of how our flexible approach, combining the extensive knowledge of both our business finance and property finance teams, can enable the delivery of a full asset-based lending solution to UK SMEs. I am delighted that Cynergy Business Finance is partnering with such a forward-thinking, environmentally conscious brand that has a fantastic plan for the future.”