Nucleus increases borrowing limit for SMEs
Nucleus Commercial Finance has increased the borrowing limits on its cash flow finance product.
The alternative finance provider has raised the upper limit from £25,000 to £200,000 in response to broker demand.
It comes after Nucleus increased the maximum term length from three to five years, which is available to those businesses looking to borrow over £75,000.
Read more: Nucleus Commercial Finance hits £1bn lending milestone
“Demand for cash flow finance is growing, and we expect this trend to continue as uncertainties around Brexit reduce and businesses start investing and planning for growth,” Chirag Shah (pictured), chief executive of Nucleus Commercial Finance, said.
“Whether it be to help even out seasonal peaks and troughs, to mitigate the impact of long payment terms, or to expand a business, this product can enable businesses to achieve their strategic goals.
“Following feedback from brokers we’ve made our offering increasingly flexible to provide more competitive solutions to our customers.
“Ultimately, it’s our duty as an alternative finance provider to help UK small – and medium-sized enterprises (SMEs) thrive by finding flexible options that suit their needs.”
Nucleus secured a £25m funding line from Paragon Bank last month which it said would boost its lending to SMEs.
Read more: Nucleus targets start-ups with new type of loan
