Member Article

SME loanbook at Nucleus Commercial Finance surpasses £500m

Alternative finance lender, Nucleus Commercial Finance, has now lent over £500m to SMEs across the UK since it launched back in 2011.

The lender, which focuses specifically on small and medium sized businesses, has said it has experienced a 100% increase in its lending operations since April as more of the UK’s businesses seek out alternative financing arrangements.

Offering what it says is a mix between high-street lending and peer-to-peer finance, the Marylebone-headquartered company provides a range of financing services including asset, property, construction, invoice and cash flow finance, and has plans to expand its range further this year.

Chief Executive Officer, Chirag Shah credited the firm’s growth to his ‘specialist team’ which has provided advice and tailored finance to companies ranging from startups to larger organisations turning over upwards of £300m.

He commented: “There are over 5 million SMEs in the UK and they are absolutely vital to the country’s economic success. Brexit of course creates uncertainty and it will be more important than ever for businesses to be able to get quick lending decisions so they can continue to invest and prosper.”

The lender is now hoping to reach £1bn within the next 12 months and plans to add three further senior hires to its 42-strong team imminently.

Shah added: “The alternative lending sector has enormous growth potential and we believe that our broad product range and flexible approach means we’re well placed to increase our market share.

“We’re confident that we can continue the current pace of growth over the next five years and are developing our products and adding to our expert team to facilitate this.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →