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Nucleus Commercial Finance to lend GBP 200 mln via CBILS

Wednesday 6 January 2021 14:03 CET | News

UK-based alternative lender fintech Nucleus Commercial Finance has pledged to lend GBP 200 mln to SMEs through the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).

The sum is to be lent by the end of March 2021, a target it is well on it's way to meeting before the scheme shutters on 30 March 2021. The lender received accreditation to the government-backed loan scheme in July 2020. The government scheme, which is due to close on 30 March 2021, has seen GBP 19.64 billion worth of loans dished out to over 82,600 businesses since it first opened in March 2020. 

Recent research from Nucleus found that nearly three-fifths of SMEs (57%) had to adapt to survive the pandemic, with over a quarter (27%) saying the new strategy is a success, according to AltFi


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Keywords: Nucleus Commercial Finance, UK, CBILS, alternative lender, lending, fintech, coronavirus, government backed loan, loan scheme
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech