Nucleus Commercial Finance is an online lender that offers SMEs (and, to a lesser extent, sole traders) an array of loans and financing options. This provider offers a range of loan products, in addition to cash advances for a business that completes transactions by debit or credit card.
The minimum thresholds for qualifying for loans are higher than many competitors, so you will need to be firmly established and enjoy substantial turnover to take advantage of what Nucleus Commercial Finance has to offer, but those who remain eligible will find plenty of love about this lender.
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Nucleus Commercial Finance business loans and finance
- Pros and cons
- Business loans
- Merchant cash advance
- Business credit cards
- Asset finance
- Invoice finance
- Commercial mortgages
- Business vehicle finance
- Nucleus Commercial Finance key information
- Nucleus Commercial Finance reviews
- Business eligibility criteria
- Business finance alternatives
- Additional considerations
- FAQ
Pros and cons of Nucleus Commercial Finance for business loans
| Pros | Cons |
|---|---|
| ✓ Several business loans available, alongside merchant cash advances | ✗ Will not work with sole traders, just limited companies |
| ✓ Nucleus Commercial Finance is regulated by the FCA, and thus needs to follow a set code of conduct | ✗ Lack of transparency surrounding interest rates on loans – you will only learn your APR when made an offer |
| ✓ Successful applicants usually receive funds within 24 hours – cash advances can be released on the day of application | ✗ Must have been trading for at least 12 months to qualify for a business loan (four months for a cash advance) – some loans require 18 months of trading |
| ✓ Greater flexibility on lending than a bank – decisions are not based solely on a credit score | ✗ Personal guarantees will usually be required for any business lending |
| ✓ Excellent online reviews and winners of the 2023 National Credit Award for Business Lender of the Year | ✗ Lending decisons are made by AI, not a human being that understands nuance |
Business loans
Nucleus Commercial Finance offers a range of business loans for SMEs in various stages of growth and development. Unfortunately, this lender is coy about interest rates so you will not know how much interest you will be expected to pay until you make an application and share your financial information.
Business growth loans
This is a short-term loan to be repaid over six months. This loan can be for any sum between £3,000 and £25,000, but your business must have been trading for at least 18 months to qualify.
While this loan is unsecured, a personal guarantee will be required and only homeowners in England or Wales may apply. You can apply for a top-up of this loan after four months of repayments.
Business cash flow loans
This loan can be taken out by a business looking to borrow between £10,000 and £2,000,000. The terms of this loan are a little more flexible; you will only need to have been trading for 12 months to qualify, and the repayment term could be anywhere from three months to six years.
This lending is unsecured, and a personal guarantee may or may not be required depending on your circumstances. You can also apply for interest-only repayments for up to one year, keeping your outgoings lower while you grow your business income.
Property finance
If you are prepared to secure a loan against a personal or professional property as collateral, Nucleus Commercial Finance offers loans of £25,000 to £5,000,000.
This lending will be capped at 70% of the value of a residential property and 65% of a commercial property. So, if you are securing a loan against a family home valued at £220,000, you will be able to borrow up to £154,000.
Any business based in England or Wales can apply for this funding, regardless of age, but you will need to provide 12 months of financial statements. If your business has not been trading this long, you’ll need to share information pertaining to your personal finances and a cash flow forecast for the months and years to come.
While there is an element of risk to securing a business loan against property, this will potentially be tempered by a preferential interest rate that is lower than an unsecured loan. You will also have a longer repayment term of up to seven years.
Merchant cash advance
Nucleus Commercial Finance also offers a cash advance service, willing to provide a lump sum of up to 200% of your monthly revenue generated by card sales. Nucleus Commercial Finance refers to this as a revenue based loan.
On paper, the only restrictions on this service are that you must have been trading for at least four months and complete at least 10 transactions each month by card. However, as the minimum sum available through this lending stream is £3,000, this also suggests that you will also need to take at least £1,500 in card sales each month. The maximum you can borrow through this lending stream is £300,000.
If you agree to a revenue based loan with Nucleus Commercial Finance, your repayments will not be taken from future card transactions. Instead, you will need to set up a weekly direct debit. The repayment term could be anywhere from three months to one year. You will also be eligible to top up your revenue based borrowing every four months. If your income has increased in this time, you will be eligible to request a larger sum.
You will need to provide a personal guarantee for any revenue based loan through Nucleus Commercial Finance, and if the total borrowed exceeds £75,000, this will automatically become a secured loan that must be guaranteed by a homeowner.
Business credit cards
✗ Not available from Nucleus Commercial Finance. See best business credit cards.
Asset finance
✗ Not available from Nucleus Commercial Finance. See best asset finance.
Invoice finance
✗ Not available from Nucleus Commercial Finance. See invoice factoring.
Commercial mortgages
✗ Not available from Nucleus Commercial Finance. See commercial mortgages.
Business vehicle finance
✗ Not available from Nucleus Commercial Finance. See business vehicle finance.
Nucleus Commercial Finance key information
| Phone number | 020 7839 1980 |
| App downloads | N/A – Nucleus Commercial Finance does not have an app |
| Website | www.nucleuscommercialfinance.com |
| Number of branches | N/A – Nucleus Commercial Finance is an online business |
| FSCS protected? | No |
| Founded | 2011, London |
Nucleus Commercial Finance reviews
| Review platform | Score | Number of votes |
| TrustPilot | 4.8/5 | 324 |
| Feefo | Not reviewed | N/A |
| Reviews.io | Not reviewed | N/A |
| Smart Money People | 4.7/5 | 37 |
| Which? | Not reviewed | N/A |
| Average score | 4.75/5 | 361 total votes |
Business eligibility criteria
The criteria to borrow from Nucleus Commercial Finance varies according to the lending stream that you are looking for. Refer back to our summaries of each product to check your eligibility. However, in a nutshell, you must meet these core criteria:
- Be a registered business listed on Companies House with at least one UK-based director
- Have a trading history of at least 18 months for a business growth loan, 12 months for a business cash flow loan, and 4 months for revenue based finance
- Complete a minimum of 10 transactions per month for revenue based finance.
Business finance alternatives
The closest rival to Nucleus Commercial Finance in terms of the range of products offered is Merchant Money, which also pairs the availability of secured and unsecured business loans with revenue based cash advances, though Capify is another option if these are your needs. If you are just seeking a merchant cash advance, compare the offer of Nucleus with those of 365 Business Finance, YouLend, Iwoca, and Liberis.
Additional considerations
In addition to excellent online reviews from fellow business customers, Nucleus Commercial Finance has been named Business Lender of the Year for 2023 at the prestigious National Credit Awards.
FAQ
Head to the Nucleus Commercial Finance website and fill in the short online application form. Nucleus Commercial Finance’s AI software will immediately review your application and come back with an offer if you are eligible for borrowing, which you can approve or decline as you see fit.
Nucleus Commercial Finance works with AI and open banking tools to speed up the process of approving loan or cash advance applications and releasing funds. If you pass the relevant checks, you could receive your money the same day that you apply for financing, or at worst within 24 hours.
No, sole traders are not eligible for lending from Nucleus Commercial Finance – you must be the director of a business registered in the UK. Other lenders are available that will consider applications for borrowing from sole traders.
While a substandard credit history, especially one that involves CCJs or bankruptcy, will impact any request for borrowing, Nucleus Commercial Finance places greater emphasis on a business’ performance and affordability than on credit score. You may still be able to qualify for a loan or cash advance, and could even use this to bolster your credit score may making regular repayments.
Yes, you will be entitled to settle your account with Nucleus Commercial Finance early if you are in a position to do so, and will not be charged any penalty fees to do so. The sooner you clear your balance, the more you will save in interest repayments.
Unless your business model is considered to be extremely high risk, Nucleus Commercial Finance will likely agree to work with you – this lender is open-minded about supporting a range of small businesses across the spectrum.