Commercial News

Nucleus secures £40m funding line

Rozi Jones -
|
7th February 2019
Chirag Shah Nucleus Commercial Finance
"This new facility also increases our flexibility by allowing us to offer more competitively priced funding to UK SMEs."

Nucleus Commercial Finance has secured a £40 million funding line from M&G Investments to support more SMEs through asset-based lending solutions.

Nucleus says the funding will increase its capacity to support businesses by 40%.

To date, Nucleus Commercial Finance has funded invoices from over 5,000 UK businesses, providing total funding of over £900 million.

Nucleus Commercial Finance CEO, Chirag Shah, said: “Working with M&G Investments to secure another funding line reinforces our role as a true alternative to high street banks. This funding means that we will be able to work with more businesses across all sectors and sizes and particularly larger businesses which we believe are currently underserved, due to the often complex nature of the finance that they require.

“This new facility also increases our flexibility by allowing us to offer more competitively priced funding to UK SMEs. Our tailored approach means that we work with SMEs to provide the financial backbone for their growth ambitions through our wide product range, but we also support them with the professional guidance they need to have the right finance in place for their business for the longer-term.”

Kevin Haupert, director of asset based lending at M&G Investments, added: “ABL has been growing in popularity amongst both borrowers and advisers in recent years as business loans from traditional sources have become more difficult to obtain following the financial crisis.

"Unlocking the value of assets that can be used as collateral by lenders provides a highly flexible form of financing and enables companies to improve their liquidity. Nucleus Commercial Finance has over a decade of experience in ABL and have an excellent track record as well as a deep understanding of businesses and their financing needs.”

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