Prestige Funds lending partner Nucleus Commercial Finance passes £2bn lending milestone
Nucleus Commercial Finance, the lending partner of private debt funds specialist Prestige, has surpassed £2bn in total lending to the UK SME sector. This comes only a year after the company surpassed £1bn in lending. Last year Nucleus lent over £450m to UK businesses across its range of loan products, including the UK’s government’s Coronavirus Business Interruption Loan Scheme (CBILS) program.
The CBILS provided finance to mid-sized and larger UK businesses that were suffering disruption to their cashflow due to lost or deferred revenues during the COVID-19 outbreak. CBILS was available through a range of accredited lenders and partners including Nucleus.
The company’s proprietary AI driven automated decisioning platform enabled Nucleus to process 90%+ loan applications within hours.
Nucleus is one of three specialist lenders that Prestige Funds works with to actively lend in the UK and US SME marketplace.
“SMEs have faced a challenging 18 months, but we have demonstrated the crucial role fintech lenders play in providing the vital support businesses need to survive and thrive,” said Chirag Shah, CEO of Nucleus.
“The UK SME market is a tough one for investors to get direct exposure to, but private lending strategies, including the one we employ via our partners at Nucleus, can provide access to those economics,” said Craig Reeves, founder of Prestige. “Nucleus is considered one of the leaders in its space, thanks to its investment in both technology and personnel. It leverages its network of deal arrangers and in-house expertise to provide excellent coverage of the corporate private debt sector.”