Marylebone firm Nucleus Commercial Finance lent £350m in 12 months, figures show

Nucleus Commercial Finance has announced that it lent more than £350m to UK SMEs in 2017.

The Marylebone-based company, which also doubled its headcount last year, said the growth has laid the foundations for a continued uptick over the coming 12 months.

Milestones in 2017 included the launch of an upgraded technology platform designed to enable fund deals faster and reaching half a billion leant to date.

Elsewhere, the company launched a raft of new products, including Education Finance, and enhanced its asset based lending by raising its maximum offering to £50m.

So far this year, Nucleus has completed more than 60 deals across its Property Finance, Cash Flow Finance and Business Cash Advance options.

Nucleus CEO Chirag Shah said: “I couldn’t be prouder of the team and what we achieved in 2017. Nucleus’ ongoing commitment to customer service and dedication to finding finance that fits, coupled with specialist industry expertise, has meant yet another year of growth.

“We finished the year having lent over £700m to UK SMEs to date, a significant contribution to UK PLC. This has enabled us to grow to more than 100 staff internationally, setting us up for further success in 2018.”

Chirag added: “We are all looking forward to continuing to innovate to better serve our clients in the year ahead.”