This is in addition to the existing £50m in funding which Nucleus has specifically for its property finance product.
The alternative finance provider now has over £175m of funding lines available to offer a range of specialist finance options for SMEs.
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Chirag Shah, CEO at Nucleus Commercial Finance, said: “This funding will accelerate the support we’re able to offer to SMEs which are struggling to secure funding from traditional banks.
“Working with Paragon Bank, a specialist in property lending, highlights our strength in this space and is a testament to the strong sourcing, underwriting and execution capability we have at Nucleus.”
Adam Daniels, managing director of structured lending at Paragon Bank, commented: “The opportunities that Nucleus provides for UK business owners reflects our passion for driving the growth of UK SMEs and supporting high-quality lending business.”
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