Online balance sheet lender, Nucleus Commercial Finance, is now offering a range of specialist products for the education sector.
The education finance portfolio has been designed by Nucleus to allow education providers the ability to receive advances and secure a line of credit against their funding payments from the Government. Nucleus is also offering property and term loans, and overdrafts.
Nucleus describes these as unique products for the market. With over 1,000 providers of vocational education alone using funding in excess of £1 billion.
The new vertical will be managed by Phillip Speed who joins Nucleus after a career as a teacher in Secondary education and considerable experience in the Further education.
“I’m joining a company at the very top of its game,” said Speed. “The opportunity here at Nucleus to simplify and change the way education providers are supported by lenders is massive and this presents an excellent opportunity for providers to invest in their growth including the latest technology and infrastructure.”
Nucleus CEO Chirag Shah said the education sector has suffered from repeated changes in government legislation and funding.
“Although education is relatively uncharted territory for Nucleus, this is clearly a fantastic opportunity and by adding the excellent experience of Phillip, the education sector will benefit greatly from the Nucleus mindset.”