Sheffield-based contract lenders merge to offer wider range of finance

Cirrus 4Syte Limited (formerly Cirrus Construction Finance Ltd), the Sheffield-based contract finance lender has been acquired by 4Syte Ltd.

In addition, the newly combined company has secured additional lines of funding to help local and national contractors and construction businesses finance their order books.

The company offers bespoke finance to businesses that take on contractual work, including in the construction sector.

Working alongside existing lenders, Cirrus 4Syte will provide the additional finance to help companies take on extra projects and more contracts.

Joining forces with 4Syte Ld, which now owns a majority stake in the company, means more funds available to lend and also gives customers access to other finance products.

Wayne Shore, chief executive at Cirrus 4Syte, said: “Over the last 3 years we have proved ourselves to offer a service far more flexible than others in this market and demand for funding has often far exceeded the funds we had available.

“Now that we have secured new lines of funding we can continue to grow and provide many more businesses with bespoke contract finance that they so often require.”

Nick Sellars, managing director of 4Syte, added: “We are delighted to join forces with Cirrus who we see as a perfect fit to allow us to offer a broad range of financial products across the UK.

“Working with Cirrus we can also help them establish stronger relationships in the South of England.”

Contract finance is customer and project specific with no minimum period of funding or minimum fees.

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