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|Unique overdraft product launched by Nucleus Commercial Finance|
|Friday, 22 April 2016|
Institution-to-peer funding specialist Nucleus Commercial Finance launched its new overdraft product today, ‘Nucleus Overdraft ID’, for businesses looking for a guaranteed overdraft facility up to £100K.
Nucleus, renowned for its construction expertise, has also introduced bridging loans and second and third charge loans as part of a new property finance product and asset finance for SMEs looking for capital expenditure support.
CEO and founder Chirag Shah said: "We've lent and recovered almost £350m over the last three years and in that time have seen significant reduction in banks’ appetites to support SMEs. If anything, they've been busier removing overdraft facilities than helping businesses grow. We therefore think it's fitting that, as Basel III reaches its sixth anniversary, we're launching our first overdraft facility.
“Businesses looking for guaranteed overdrafts up to £100K will deal with our overdraft team, while companies that require finance upwards of £100K all the way through to £10m, will be put in touch with our specialist loan team."
Mark Goldman, NCF director, added: "In an age where P2P providers are seemingly more interested in their lending technology than the businesses they're working with, we felt the time was right to expand our offering and hammer home our key messages of financial expertise, flexibility and transparency. We've never lost a single client and can now offer them the same funding facilities their banks provide."
The ‘Nucleus Overdraft ID’ launch coincides with a total NCF rebrand, new website and expanded sales and marketing teams.
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