The alternative finance lender provided a £16m asset-based lending (ABL) facility to a haulage firm, which was structured from a £14.5m invoice discounting facility and a £1.5m property finance loan.

Nucleus originated an additional 60 loans in March, with £3.5m lent in this month alone across cash flow finance, property finance and business cash advance solutions.

The lender’s latest announcement comes after its decision to extend its ABL facilities up to £50m, in a bid to service larger clients.

Nucleus has seen its average deal size increase by 50% across its product lines over the last year.

Cash flow finance and property finance deals have also increased by over 900% and 200% respectively during the same period.

•   Nucleus lends over £350m to UK SMEs
•   Nucleus launches business cash advance product
•   Funding Circle lends £113m in February

This month, Nucleus also launched a new secured lending product called start-up finance, which offers much-needed finance for start-up businesses.

This new offering enables businesses to borrow from £25,000-20m – interest-only – with a term of five years.

“Today’s businesses come in all shapes and sizes and the one-size-fits-all mentality – particularly in relation to finance – is outdated,” said Chirag Shah, CEO at Nucleus Commercial Finance (pictured above).

“We pride ourselves on finding fast, bespoke and transparent finance solutions.

“It is greatly rewarding to support the wide range of growing businesses that represent the backbone of the UK economy.

“We’re seeing enormous growth potential for the alternative lending sector and are confident that we can continue the current pace of growth over the next five years, by developing our products and adding to our expert team to facilitate this.”