Largest ever P2P loan reported to be funded

Largest ever P2P loan reported to be funded




Peer-to-peer (P2P) lender Nucleus Commercial Finance has claimed to have made the largest P2P loan in history.

The firm provided a £14.5m finance facility to the largest steel stockholder in the South East, Industrial Metal Services (IMS).

Chirag Shah, CEO of Nucleus Commercial Finance, said: “This is the first time a loan facility of this size has been seen in the P2P sector.

“This is a significant sum of money for a company in a sector high street banks consider ‘adverse’ due to the global steel trade.

“However, we support businesses from a wide variety of asset-rich industries, and had no hesitation in working with IMS.”

London-based Nucleus claimed the loan was over four times larger than the previous P2P record.

The facility, which consists of invoice, asset and property finance, will be used to support new stock purchases and general cash flow for IMS.

The process took 10 weeks from initial introductions to money being released.

Nucleus is funded by institutional investors around the world.

The firm has lent over £400m since its inception in 2011. 

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