Nucleus Commercial Finance secures GBP 200 mln funding

Over the past year (2020), Nucleus has been an active lender of CBILS cash, as well as moving towards automated underwriting. It is looking to use the new cash to continue to lend after the scheme comes to an end. Once the government loan schemes come to an end later in 2021 there will be a funding gap in the UK. This is where Nucleus, as a fintech lender, will continue to play a role to bridge this gap and support businesses by providing the finance they need, according to Nucleus staff.

SMEs are turning to alternative and fintech lenders as the first point of call due to innovative solutions and ability to provide funds faster than high street banks. Nucleus says it has lent over GBP 1.7 billion since its launch in 2011 with large growth in lending in 2020. Nucleus says it plans to lend GBP 200 million through the scheme before 30 March 2021, when it ends.