Nucleus launches new cash flow product
NUCLEUS Commercial Finance has launched a new cash flow product that offers more flexibility for businesses.
The alternative business lender said on Thursday that the new facility, called Business Cash Advance, is suitable for businesses that take card payments and need a cash flow boost, but have uneven cash flow.
Business Cash Advance works like a business loan but offers greater flexibility, as firms only pay back an agreed percentage of the card payments their receive. This means that even in the quieter periods, it is affordable, Nucleus said.
“We understand that there is no longer a ‘typical’ business model and that means that there cannot be one-size-fits-all types of finance,” said chief executive Chirag Shah (pictured).
“Throughout the year, takings vary, some months might be busier than others due to a number of legitimate factors. This is why we’ve created Business Cash Advance.
“Fixed monthly repayments do not suit all – with this product model we’re hoping to alleviate this stress for business owners, while still offering them an opportunity to grow.”
Nucleus offers a range of funding solutions, including invoice finance, asset finance, working capital, property and construction finance and funding for the education industry.