The alternative finance lender’s new education funding team will be headed up by Phillip Speed, who has been selected to lead the division following his career as a teacher in a secondary school.
Nucleus has developed these products to allow education providers the ability to receive advances and secure a line of credit against their profiled funding payments from the government.
The lender will also be able to provide property and term loans along with overdrafts for a market which uses more than £1bn in funding.
On joining Nucleus, Phillip said he was coming to a team at the very top of its game.
- P2P criteria could become stricter due to matchmaking tool, warns lender
- P2P money transfer service launched in 14 countries
“The opportunity here at Nucleus to simplify and change the way education providers are supported by lenders is massive and this presents an excellent opportunity for providers to invest in their growth, including the latest technology and infrastructure.”
Chirag Shah, CEO of Nucleus, added: “The education sector has suffered at the hands of repeated changes in government legislation and funding.
“Although education is relatively uncharted territory for Nucleus, this is clearly a fantastic opportunity and by adding the excellent experience of Phillip, the education sector will benefit greatly from the Nucleus mindset.”
Leave a comment