Nucleus Commercial Finance

Nucleus Commercial Finance secures £40m funding line

Nucleus Commercial Finance has announced that it has secured a new £40m funding line to support SMEs via asset-based lending (ABL) solutions.

The finance will be provided by M&G Investments and increase Nucleus’s capacity to support businesses by 40%.

The alternative finance lender has funded over 5,000 UK businesses to date and provided total ABL finance of more than £900m.

Chirag Shah, CEO at Nucleus Commercial Finance (picture above), said: “Working with M&G Investments to secure another funding line reinforces our role as a true alternative to high street banks.

“This funding means that we will be able to work with more businesses across all sectors and sizes and particularly larger businesses, which we believe are currently underserved due to the often complex nature of the finance that they require.

“This new facility also increases our flexibility by allowing us to offer more competitively priced funding to UK SMEs.

“Our tailored approach means that we work with SMEs to provide the financial backbone for their growth ambitions through our wide product range, but we also support them with the professional guidance they need to have the right finance in place for their business for the longer term.”

The average size of asset-based lending facilities provided by Nucleus has doubled every year since the business started in 2007.

James Pearce, head of direct lending at M&G Investments, added: “This partnership sees our pension fund clients direct much-needed capital to SMEs, providing them with access to finance that will help them [to] invest and grow.”

Kevin Haupert, director of asset-based lending at M&G Investments, said: “Nucleus Commercial Finance has over a decade of experience in ABL and [has] an excellent track record as well as a deep understanding of businesses and their financing needs.”

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