Nucleus Commercial Finance is aiming to lend £200 million to SMEs through the Coronavirus Business Interruption Loan Scheme (CBILS), before applications close on 30 March 2021.

Its lending stretches across all industries, including the hardest hit by the virus, such as retail, hospitality and leisure, to ensure they have been provided with the support they need to survive during this challenging period.

To achieve its aim in lending £200 million through CBILS, Nucleus is accepting applications from introducers via its introducer portal, myNucleus. Subject to the information received, Nucleus says it is able to provide introducers with a decision, send legal documents within minutes and fund businesses the same day. The lender is also taking applications directly from customers across the U.K.

Chirag Shah (pictured), CEO, Nucleus Commercial Finance, said: “Following the government’s announcement to extend CBILS to the end of March, we have set out ambitious plans to lend a total of £200 million through the scheme, providing SMEs with the crucial funds they need in the ongoing crisis.

“In 2020 we have seen alternative and fintech lenders move into the mainstream as SMEs are turning to our industry as a first point of call. This is due to our ability to provide SMEs with vital funds quicker than high street banks.”