Nucleus lends £60m in record quarter

Peer-to-peer lender Nucleus Commercial Finance has announced that it lent a record-breaking £60m in Q2 2017, 25% more than in Q1 2017.

Nucleus claimed that the introduction of new products in the last six months and its investment in technology has accelerated its growth, along with its ability to offer the financial expertise and credit facilities of a traditional high street bank combined with the speed, flexibility and transparency of an alternative lender.

Its team has grown by 63% since December of last year, with Ian Bath – who was previously director of business development at Lloyds Bank – joining Nucleus early this month as corporate sales director.

Chirag Shah, CEO at Nucleus Commercial Finance (pictured above), said: "It is exciting that Nucleus has gone from strength to strength in 2017.

“We are building a strong and experienced team and a wide product range to help enable SMEs to realise their full potential."

In March, Nucleus announced that it had reached the £500m lending milestone and hoped to double its lending to SMEs to £1bn in the next 12 months.

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