Chirag Shah

Nucleus surpasses £1bn lending milestone

Nucleus Commercial Finance has surpassed the £1bn milestone with regard to lending to UK SMEs.

In 2018, the alternative finance lender provided £282m to businesses to support their growth – an increase of 80% since the start of 2016.

Nucleus cited the launch of new products and the adoption of technology as being the key growth drivers to achieving the landmark figure.

Last year, Nucleus’s business cash advance led product growth, with total lending rising 593% compared with 2017.

Nucleus also completed its largest deal to date in 2018, a £14.5m asset-based lending facility to secure the future of a longstanding logistics business and over 800 jobs.

During Q4 2018, Nucleus delivered its strongest quarter to date, lending a total of £16.3m across its secured and unsecured loans product, up 73% on the same period in 2017.

“Since 2011, we have worked hard to support UK SMEs, providing the financial products they need, when they need them,” said Chirag Shah, CEO at Nucleus Commercial Finance (pictured above).

“I’m very proud to announce that we have reached (and now exceeded) such a fantastic milestone.

“It is testament to the efforts of the entire team and a real spur for us to continue supporting businesses.”

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