Novuna Business Cash Flow launches £2m–£25m asset-based lending proposition
Novuna Business Cash Flow has expanded into asset-based lending with the launch of a new £2m–£25m funding proposition, significantly extending its ability to support larger and more complex UK businesses.
The new Asset-Based Lending (ABL) facility enables businesses to raise funding against receivables, inventory, plant and machinery and commercial property through a single integrated funding arrangement.
Rather than businesses managing separate facilities across different asset classes, Novuna’s simplified proposition brings the funding together under one overall limit, one lending rate and one monthly fee.
The move represents a significant expansion beyond Novuna Business Cash Flow’s traditional receivables finance offering and gives the lender greater capability to support mid-sized and larger businesses with acquisitions, investment, restructuring and growth.
All facilities will include invoice finance as part of the overall funding structure, with individual facilities ranging from £2m to £25m.
Supporting the launch is the appointment of Neil Sturgeon as corporate business development manager, bringing more than 40 years’ experience across asset-based lending, receivables finance and working capital.
Neil has held senior business development and origination positions with two major banks, working with mid-sized and larger corporates across a wide range of sectors.
He will work alongside Dan Lambourne, head of relationship management and corporate, to grow Novuna Business Cash Flow’s presence in the corporate funding market and develop relationships with corporate finance advisers, debt advisers and professional introducers across the UK.
Dan Lambourne said: “We’re seeing more businesses whose funding requirements can no longer be met by looking at receivables in isolation. They may have considerable value tied up across stock, machinery, property and invoices and want a funding structure that reflects the strength of the whole business.
“Our new ABL proposition gives us the ability to bring those assets together into one facility and provide substantially more funding headroom as businesses grow, invest or pursue acquisitions.
“Neil brings a huge amount of ABL experience and strong relationships across the corporate finance market. His appointment gives us additional expertise as we build our presence in this part of the market.”
Neil Sturgeon said: “There is a real opportunity to build a strong ABL proposition at Novuna. The business already has a market-leading invoice finance platform, significant funding capability and a clear ambition to do more in the corporate market.
“For advisers and their clients, the important thing is having a lender that can understand the whole funding requirement rather than trying to make a business fit a particular product. That is exactly where ABL can add value, particularly for businesses going through periods of growth, acquisition or change.
“I’m looking forward to working with advisers across the UK and establishing Novuna as an increasingly important player in the ABL market.”
The launch forms part of Novuna Business Cash Flow’s wider strategy to evolve from a traditional invoice finance provider into a broader working-capital and cashflow finance business.