UK SME lender Nucleus Commercial Finance has secured a funding facility of up to £200 million from NatWest to fuel its business loans.
In brief:
- The company’s offering allows UK SMEs to access up to £2 million, with the lender’s AI-led automated efficient underwriting system.
- Nucleus says this new facility, will bring its total lending capacity to date to £900 million, helping the firm support more than 2,000 small and medium-sized UK businesses
What does this mean?
“Through investments in tech, including embracing AI and the open banking/open accounting initiatives, we’ve managed to overhaul our entire lending process and now 96% of our decisions are made in under one minute,” claims Chirag Shah, CEO of Nucleus.
