Nucleus Commercial Finance has updated its business growth loans, raising the maximum loan amount and extending the term length.
The product, which was launched in March to support small- and medium-sized enterprises (SMEs) as the government’s coronavirus business interruption loan scheme came to an end, has seen its maximum term length extended from six to 12 months and upper limit raised from £25,000 to £50,000.
Using Nucleus’ technology the business growth loans enable SMEs to apply, get decisions and receive funding within hours.
Brokers are able to submit applications to the myNucleus portal and businesses can apply directly via Nucleus’ website.
“At Nucleus we’re committed to providing SMEs with access to fast and flexible finance solutions and these enhancements are testament to this,” said Chirag Shah (pictured), chief executive of Nucleus Commercial Finance.
“Due to increased demand, we’ve implemented these changes to enable more businesses to access support when they most need it, and timed it with the recent lifting of restrictions to ensure we can help all those that are now open and preparing for summer trade.”