Nucleus enhances Business Growth Loans criteria
Nucleus Commercial Finance has announced enhancements to its Business Growth Loans, helping to support more UK SMEs as lockdown restrictions are eased.
"Due to increased demand, we’ve implemented these changes to enable more businesses to access support when they most need it"
The product, initially launched in March, is designed to support SMEs as the government’s Coronavirus Business Interruption Loan Scheme (CBILS) come to an end.
The maximum term length has been extended from six to 12 months, and the upper limit has been raised from £25,000 to £50,000.
Brokers will be able to submit Business Growth Loans applications to the myNucleus portal.
Chirag Shah, CEO of Nucleus Commercial Finance, commented: “At Nucleus we’re committed to providing SMEs with access to fast and flexible finance solutions and these enhancements are testament to this.
"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.”
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