Travers Smith LLP has advised the structured lending team at Paragon Bank plc on the provision of a £25 million senior revolving credit facility to Nucleus Commercial Finance. Pinsent Masons advised Nucleus.
The funding will be used by Nucleus to support small and medium sized enterprises (SMEs) through secured loans and property finance.
As one of the UK’s leading providers of alternative finance to SMEs, Nucleus now has over £175 million of funding lines available to offer a range of finance options. To date, it has funded more than 2,100 small businesses across the country, providing a total amount of £1.3 billion in funding to British businesses of varying sectors and sizes.
Paragon is a UK based bank offering competitive rates for savings and cash ISA accounts.
The Travers Smith team was led by Finance Partner Charles Bischoff (Picture) with support from Associate Tom Maclean and Trainee Peter Borland.
Law Firms: Travers Smith;
Clients: Paragon Group Plc;