CLIENT STORY

Energy Angels

KEY FACTS

  • Industry: Energy
  • Amount: £50k
  • Reason: Refinance Debt & Working Capital
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Our experience with Nucleus was excellent. Jo was really helpful, really fast and I was actually surprised at the speed of it all.

Lewis Taylor, Managing Director | Energy Angels

Products used

Energy Angels is a specialist energy services business that has helped over 300,000 households, businesses, and landlords to restore power and save on energy costs in its 14 years of operation. Their clever price comparison tool has enabled thousands of homes to switch to cheaper energy suppliers and these specialists even help to negotiate better rates, as well as securing free periods of energy for both vulnerable people and key NHS workers.

It’s safe to say that this thriving company is sending shockwaves through the energy sector and it has no plans to slow down, even in light of the COVID-19 situation. Whilst other organisations have been able to furlough its workforce, Energy Angels must continue to push forward to ensure they are helping provide power whenever it’s needed. They predicted finances could suffer during the pandemic, so decided a bigger cash pot would be needed to navigate this difficult period.

They had a need for additional finance and David Wells at Q Commercial Finance knew exactly where to find it. After applying online for our Cash Flow Finance product, Nucleus got in touch with Energy Angels and the funds were paid quickly, with the timeline of the entire process taking only a week.

This customer was keen to clear longstanding loans that had debentures on the business and felt their strong position in the market would help them negotiate a better deal with alternative lenders. Their £50k Cash Flow loan will be paid back over 5 years, allowing this customer to boost its working capital whilst also reducing their interest payable and removing the existing debentures on the business.

Lewis Taylor, the Managing Director at Energy Angels said: “Our experience with Nucleus was excellent. Jo was really helpful, really fast and I was actually surprised at the speed of it all. A lot of that speed was down to the processes they follow, as the application is done online, and you even sign the contracts online too. This is all backed up by great service and accessing the loan was made very easy for us.”

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