Nuclear Commercial Finance has seen a surge in demand from construction specialists as smaller businesses look to find additional means of investment and funding cashflow.
More than 60% of deals referred to Nucleus over the last 12 months have been construction related.
Of the 274 deals that Nucleus has seen over the last 24 months, almost all (92%) have been for firms with turnovers of £10m or less seeking a total between them of more than £217m in cashflow funding.
Chirag Shah, Chief Executive of Nucleus Commercial Finance, said: “Looked at positively, the increase in demand could be explained by a resurgence in the construction sector and the success of alternative lenders in convincing firms that there is a viable alternative to the High Street.
“Looked at from a different angle, it might also suggest the continued failure of the major banks that appear not to understand the specific needs of what can be a very complicated industry and prefer, instead, to target other sectors with less risk.”
Nucleus provides funding against applications for a range of construction businesses throughout the supply chain.
It works closely with a team of Quantity Surveyors to ensure informed funding decisions are made within 24 hours of receiving the applications.
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