Nucleus Finance introduces new business loans to attract young SMEs

Nucleus Commercial Finance, an SME alternative lender, has reportedly launched a new SME loan scheme which will attract young start-ups and businesses across the UK. The Nucleus Business Loan offer is an alternative to the SME loan provider Cash Flow Finance product.

As per sources, one of the major differentiations between the two products is that the new loan scheme will let the borrowers take out loans with a shorter span of trading history.

Notably, the Nucleus Business Loan provides business loans in between USD 12,235 to USD 2.4 million for a period of 6 years, with a 6% interest rate.

Reportedly, Nucleus Commercial Finance, which claims to decide the lending applications in a minute believes that young SMEs and start-ups will be driven towards the loan product, providing the laxation of accreditation check.

Chirag Shah, Chief Executive Officer and Founder, Nucleus Commercial Finance stated that the United Kingdom SMEs are thriving but are currently facing unnecessary blockades in between the ways.

Chirag mentioned that it is generally correctly stated that SMEs are the drivers of the growth of United Kingdom and yet the conventional money providers are very reluctant to offer the flexible and dynamic lending products that are required by them to achieve their potential.

It has been reported that the economy of United Kingdom is booming and there are actual tangible prospects for enterprises to seize.

Shah added that ensuring that the SMEs have fast access to the required finances, empowering them to grab the development opportunities is paramount, paving way for the development of the new loan plan.

Investment in innovations from fintech implies that they are the best in the industry to help SMEs after CBILS, due to their ability to design flexible products. The creative solutions, powered by the state-of-the-art technology will reinforce that fintech’s cannot be considered as substitutes, but the main leader.

Source Credits: - https://www.altfi.com/article/9415_nucleus-finance-launches-new-business-loan-to-appeal-to-younger-smes