Nucleus Commercial Finance has provided a £1.3m facility to steelwork specialist firm Leyton Group, enabling the business to take on larger projects and expand across the UK.
Founded in 2011, Leyton Group is a leading specialist in steel staircase design, manufacture and installation, currently operating mainly across London and the south. The business has completed significant key projects; including the PwC HQ at One Embankment Place, Deloitte’s HQ at New Street Square and the Canadian Embassy in Trafalgar Square.
The £1.3m combined construction finance and property loan facility from Nucleus Commercial Finance is a refinanced loan and overdraft facility offering greater flexibility than their previous provider NatWest. It will generate additional working capital which increases in line with business growth, allowing Leyton Group to take on larger projects.
Fraser McFarlane, managing director, Leyton Group said: “Working with Nucleus Commercial Finance means we can grow our business and realise the opportunity of expanding into cities such as Liverpool and Manchester. The team at Nucleus took the time to understand our business, the people within it, and our needs to truly tailor a bespoke facility. While this is a challenging time for businesses, our order book is in a strong position with a steady pipeline of activity and we still have ambitious plans for 2020.”
Dennis Pym, sales director, Nucleus Commercial Finance, said: “We are pleased to support Leyton Group in delivering on its growth ambitions. This multi-layered finance facility combines our knowledge of the manufacturing industry and our ability to use more than one product, giving the leadership team at Leyton Group finance that closely matches their needs.
“SMEs across the UK are facing unprecedented times and it’s crucial for them to have access to finance to support their plans. This deal is a great example of how the needs of every business are considered individually by us and shows the role alternative lenders can play in supporting UK SMEs in the current climate.”