Nucleus aims to lend £200m through CBILS 

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Nucleus Commercial Finance is aiming to lend £200m to small to medium enterprises (SMEs) through the Coronavirus Business Interruption Loan Scheme (CBILS) before the scheme’s planned closure at the end of March.

The firm outlined that it lends across all industries, including retail, hospitality and leisure.

To achieve its goal of £200m, Nucleus Commercial Finance is accepting applications from introducers via its introducer portal, myNucleus.

Subject to the information received, Nucleus is able to provide introducers with a decision, send legal documents within minutes and fund businesses the same day.

The lender is also taking applications directly from customers across the UK.

Chirag Shah, chief executive of Nucleus Commercial Finance, said: “Following the government’s announcement to extend CBILS to the end of March, we have set out ambitious plans to lend a total of £200m through the scheme, providing SMEs with the crucial funds they need in the ongoing crisis.

“In 2020 we have seen alternative and fintech lenders move into the mainstream as SMEs are turning to our industry as a first point of call. This is due to our ability to provide SMEs with vital funds quicker than high street banks.”

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