Education sector boosted by alternative finance lender
Alternative finance lending specialists, Nucleus Commercial Finance, has announced the first range of specialist products for the education sector. The new team will be headed up by education funding specialist, Phillip Speed, who has been appointed to oversee the operation.
The education finance portfolio has been designed by Nucleus to allow education providers the ability to receive advances and secure a line of credit against their profiled funding payments from the government. However, due to their broad offering Nucleus are also able to provide property and term loans, and overdrafts.
These are unique products for the market. With over 1,000 providers of vocational education alone using funding in excess of £1bn, Nucleus has cultivated a potentially lucrative method for matching brokers and introducers to sector organisations.
Phillip Speed joins Nucleus after a career as a teacher in Secondary education and considerable experience in the further education sector to build upon Nucleus’s offering to the education and public sectors.
“I’m joining a company at the very top of its game, the opportunity here at Nucleus to simplify and change the way education providers are supported by lenders is massive and this presents an excellent opportunity for providers to invest in their growth including the latest technology and infrastructure.”
On the new products and hiring Phillip Speed, Nucleus CEO Chirag Shah, said:
“The education sector has suffered at the hands of repeated changes in government legislation and funding. Although education is relatively uncharted territory for Nucleus, this is clearly a fantastic opportunity and by adding the excellent experience of Phillip, the education sector will benefit greatly from the Nucleus mindset.”