Nucleus Commercial Finance aims to lend £200m to SMEs through CBILS
Nucleus Commercial Finance, one of the UK’s leading fintech lenders, aims to lend £200m to SMEs through the Coronavirus Business Interruption Loan Scheme (CBILS), before applications close on 30th March 2021.
Since its accreditation for CBILS, Nucleus has supported businesses across the UK by providing them with the finance to withstand the economic challenges brought on by Covid-19. Its pace of lending has continued to increase since accreditation. Nucleus’ lending stretches across all industries, including the hardest hit by the virus, such as retail, hospitality and leisure, to ensure they have been provided with the support they need to survive during this challenging period.
To achieve its aim in lending £200m through CBILS, Nucleus is accepting applications from introducers via its award-winning introducer portal, myNucleus. Subject to the information received, Nucleus is able to provide introducers with a decision, send legal documents within minutes and fund businesses the same day. The lender is also taking applications directly from customers across the U.K.
Chirag Shah, CEO, Nucleus Commercial Finance, said: “Following the government’s announcement to extend CBILS to the end of March, we have set out ambitious plans to lend a total of £200m through the scheme, providing SMEs with the crucial funds they need in the ongoing crisis.
“In 2020 we have seen alternative and fintech lenders move into the mainstream as SMEs are turning to our industry as a first point of call. This is due to our ability to provide SMEs with vital funds quicker than high street banks.”
