Nucleus Commercial Finance announces the upgrade of Business Cash Advance


Nucleus Commercial Finance announces the upgrade of Business Cash Advance

By Megha Bhattacharya

Nucleus Commercial Finance, one of the UK’s FinTech lenders, today announced improvements to its Business Cash Advance (BCA) to support more SMEs as England relaxes restrictions on Covid-19. With SMEs showing strong demand for financing as they prepare for post-containment negotiation, the lender has made a number of changes and new additions to the BCA solution, giving companies more options and flexibility.

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

“The introduction of secure facilities of up to £ 2million and making loan decisions based on one month’s card statements are major developments in this industry. No other lender can offer this business support, however, we have been able to make these significant improvements with 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 commercial cash advance with a maximum limit of £ 2million and loan decisions are now based on one month of card statements, instead of the previous 4 month requirement.

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