Over £750m shared between businesses following this company's biggest loan yet

Nucleus Commercial Finance has announced today (April 5) that it has lent over £750m to UK businesses, closing Q1 2018 with its largest loan to date.

The loan is a £16m asset based lending (ABL) facility to a haulage firm. This was structured from a £14.5m invoice discounting facility and a £1.5m property finance loan.

An additional 60 loans were originated across other loan types in March, with £3.5m paid out in this month alone.

Chirag Shah, CEO at Nucleus Commercial Finance, said: “Today’s businesses come in all shapes and sizes and the one-size-fits-all mentality, particularly in relation to finance, is outdated.

“We pride ourselves on finding fast, bespoke and transparent finance solutions. It is greatly rewarding to support the wide range of growing businesses that represent the backbone of the UK economy.”

“We’re seeing enormous growth potential for the alternative lending sector and are confident that we can continue the current pace of growth over the next five years, by developing our products and adding to our expert team to facilitate this.”

This major win follows on from Nucleus’ decision to extend its ABL facilities up to £50m to service larger clients and cements Nucleus’ role in funding businesses in the mid-market.

Other significant solutions within this include an £8m invoice finance facility for Midlands manufacturer, Expert Tooling & Automation Ltd.

In another loan, Nucleus funded a chemical distribution and manufacturing group with an £11m invoice finance facility within the first three weeks of this year.

Chirag concluded: “We’re seeing enormous growth potential for the alternative lending sector and are confident that we can continue the current pace of growth over the next five years, by developing our products and adding to our expert team to facilitate this.”

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