Firm hits £350m lending target in 2017

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Nucleus Commercial Finance has announced it lent over £350 million to UK SMEs  in 2017, and doubled the size of its team. Continued growth over the last year will lay the foundations for further investment in the year ahead.

Last year began with the launch of Nucleus’ upgraded technology platform, designed to enable fund deals faster. In March the company reached the first milestone of the year, half a billion leant to date. New product launches came in 2017 all with the aim of improving funding access for UK SMEs. The Education Finance product is expertly designed to fund apprenticeships, smooth cash flow and ease the burden of staged funding. Business Cash Advance, enables customers to borrow up to 125% of monthly card volumes, and access finance when they need it most.

Nucleus also enhanced its asset based lending in 2017 increasing its maximum offering to £50m in July, whilst simultaneous lowering pricing for loan products, cash flow and property finance. To round out a stellar year, Nucleus CEO, Chirag Shah, was named UK Corporate Finance CEO of the Year by Acquisition International.

These foundations have led to a strong January start – in the first three weeks of the year, Nucleus has funded a chemical distribution and manufacturing group with an £11m invoice finance facility, and over 60 deals are already completed across Property Finance, Cash Flow Finance and Business Cash Advance.

Chirag Shah (pictured, above) said: “I couldn’t be prouder of the team and what we achieved in 2017. Nucleus’ ongoing commitment to customer service and dedication to finding finance that fits, coupled with specialist industry expertise, has meant yet another year of growth. We finished the year having lent over £700m to UK SMEs to date, a significant contribution to UK PLC. This has enabled us to grow to more than 100 staff internationally, setting us up for further success in 2018. We are all looking forward to continuing to innovate to better serve our clients in the year ahead.”