CCR Magazine

CSA Top Banner
You are here  :Home arrow News arrow Biggest ever P2P loan for Industrial Metal Services
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Biggest ever P2P loan for Industrial Metal Services PDF Print E-mail
Wednesday, 20 July 2016
A British P2P record is broken today as funding specialist Nucleus Commercial Finance agrees a £14.5million finance facility with the largest steel stockholder in the South-East, Industrial Metal Services (IMS).

The deal, which is over four times larger than the previous P2P record, has been agreed with the steel stockholders to support new stock purchase and general cash flow, and consists of invoice, asset and property finance.

In a major boost for the alternative finance sector, IMS turned to Nucleus after discovering the wide range of finance facilities that they could provide, which fitted in perfectly with their business needs.

“It’s difficult to find a lender that provides the same level of detailed financial analysis and range of financial facilities as a bank – there are a lot of businesses that could benefit from access to alternative finance, especially after the recent Leave vote”, said Mick Welden, a consultant at Breal Consulting, acting on behalf of IMS. “Nucleus’s financial expertise and flexibility means they’re well placed to support the SME sector with record breaking amounts of P2P funding through a variety of different finance types.”

“This is the first time a loan facility of this size has been seen in the P2P sector”, said Chirag Shah, CEO of Nucleus Commercial Finance. “This is a significant sum of money for a company in a sector high street banks consider ‘adverse’ due to the global steel trade. However, we support businesses from a wide variety of asset rich industries, and had no hesitation in working with IMS.”

Welden concluded: “Nucleus used its commercial experience to turn the deal around very quickly – initial introductions to money being released took ten weeks. Much, much quicker than other lenders. Post-completion, they’ve been very supportive with the transition from the old lender.”
 
Enghouse Side Banner

CSA side

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

CSA

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197