Nucleus targets start-ups with new type of loan
NUCLEUS Commercial Finance is targeting start-up companies with its new loan product.
The alternative business finance provider announced the launch of Start-up Finance on Wednesday, which is tailored to help start-ups get their business off the ground.
Young companies can borrow between £25,000 and £20m, with a secured interest-only loan, over a period of up to five years.
Read more: Nucleus launches new cash flow product
The Start-up Finance product allows fledgling firms to borrow using property as collateral. At the end of the secured loan term, companies can choose to exit and refinance, or migrate to a term loan with the Nucleus team.
Nucleus says all they need provide in order to apply is a business plan and their cash flow forecasts.
“The goal of Start-Up Finance is to fund businesses that will succeed. It is my belief that companies should feel enabled by their lender, not stifled,” said Chirag Shah (pictured), chief executive at Nucleus Commercial Finance.
Read more: Nucleus hits £750m lending milestone after making largest loan to date
“Start-up businesses need a transparent lending partner, not a payday loan and currently they have very little choice of products available to them.”
Read more: Nucleus Commercial Finance lends £350m in 2017
