Nucleus Commercial Finance Announces Business Cash Advance Upgrades

Nucleus Commercial Finance Announces Business Cash Advance Upgrades

By Megha Bhattacharya

Nucleus Commercial Finance, one of the UK’s fintech lenders, today announced enhancements to its Business Cash Advance (BCA) to support more SMEs as England eases Covid-19 restrictions. As SMEs show strong demand for financing as they prepare for post-lockdown commerce, the lender has made a number of changes and new additions to the BCA solution, giving businesses more options and flexibility .

Chiarg Shah, CEO of Nucleus Commercial Finance, said: “The changes to our Business Cash Advance solution come at a significant time for SMEs as lockdown restrictions are eased in England. We recognize that trading has been difficult for many businesses over the past 18 months, which is why we have introduced a number of new market-leading enhancements to provide SMEs with access to fast and flexible financing solutions. they need for the summer trade.

“The introduction of secured facilities of up to £2m and making lending decisions based on a month’s worth of card statements are major developments in this industry. No other lender is able to offer this business support, however, we were able to deliver these significant improvements through the power of our technology.

According to the company, the improvements are as follows: new customers can now borrow up to 175% of their monthly card volumes from 150%, renewals have been increased to 200% from 175% of monthly card revenue , for the first time. , businesses can now receive a secure cash advance with a maximum limit of £2m and loan decisions are now based on one month of card statements, instead of the previous 4 month requirement.

Previous post

Paysafe Selects Elliptic to Strengthen Crypto Payments Compliance

Read more

next article

Tesorio is now available for all companies, regardless of ERP or data source

Read more

IBSi Daily News Analysis

online loan

Here’s how personal loan apps are changing the lending space in India

Read more

IBSi FinTech Review

  • Most Trusted FinTech Journal Since 1991
  • Digital monthly issue
  • Over 60 pages of research, analysis, interviews, opinions and rankings
  • Global coverage

Subscribe now

Comments are closed.