The lender’s new product is aimed at businesses that take card payments and need a cash flow boost but may have lumpy cash flow or seasonal peaks and troughs in revenue.
The product allows business customers to only pay back an agreed percentage of the card payments they receive – rather than fixed, monthly repayments.
Farreha Mahmood, business development director of Nucleus Commercial Finance, explained: “We understand that there is no longer a ‘typical’ business model.
“This is why we’ve launched business cash advance.
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“With this model, businesses don’t need be burdened with a fixed repayment that their cash flow doesn’t allow.
“We’re aiming to alleviate this stress for business owners, while still offering them an opportunity to grow.”
Chirag Shah, founder and CEO at Nucleus (pictured above), added: “We understand that businesses of all sizes could need finance for planned expenses, such as expansion and renovation or even for those unplanned emergencies.
“However, when running a small business, these expenses can end up having a much greater impact.
“With business cash advance, we’re aiming to help these smaller businesses owners mitigate [the] risk and impact that these expenses can bring.”
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