Novuna Business Finance announced as partner for pilot green asset finance variant of the British Business Bank’s Growth Guarantee Scheme

Novuna Business Finance announces that it is partnering with the British Business Bank to deliver a pilot of a green asset finance variant of the Bank’s successful Growth Guarantee Scheme. This new variant is designed to increase funding for smaller businesses to invest in green assets that facilitate the transition to a low-carbon economy. 

The pilot will focus on assets such as Electric Vehicles (EV) and EV chargers, solar photovoltaic, heat pumps, wind turbines, battery storage systems and biomass. Using the infrastructure of the existing Growth Guarantee Scheme, the green asset finance variant will help increase the supply of affordable finance for businesses investing in green technologies. 

The announcement comes at a time when smaller businesses have started redoubling their commitment to sustainability. Novuna Business Finance research last month found that more than eight in 10 small businesses (88%) said there are areas of sustainability that are more important to them at the start of 2025 than they were a year ago.

The British Business Bank’s recent Small Business Finance Markets report found that over half (53%) of smaller businesses are prioritising environmental sustainability over the next year.

Geoff Maleham, Managing Director of Novuna Business Finance comments: “We are proud to be working with the British Business Bank as their chosen lender on this innovative pilot. At Novuna Business Finance, sustainability is at the heart of our business and we are passionate about supporting smaller business owners in their journey towards achieving Net Zero goals. 

“Sustainability is about more than just reducing carbon emissions – it’s about building financially resilient businesses that tackle waste, streamline processes, and embed sustainability into their core operations. By providing additional access to finance for green assets through the Growth Guarantee Scheme, UK SMEs can ensure a transition to more sustainable investment options as they look to develop and grow.”

About the Growth Guarantee Scheme

The Growth Guarantee Scheme is facilitated by the Government-owned British Business Bank and delivered through its delivery partners. Under the scheme, lenders offer facilities of up to £2m to support businesses that would otherwise be unable to access the finance they need to invest and grow, or would only be able to do so on worse terms.

The Growth Guarantee Scheme launched with accredited lenders on 1 July 2024, with a wide range of products supported by different lenders, including term loans, overdrafts, asset finance, invoice finance and asset-based lending.

Novuna 

Novuna is a trading style of Mitsubishi HC Capital UK PLC, a leading financial services company, authorised and regulated by the Financial Conduct Authority (FCA). We have over 2,250 employees, £8.2bn of net earning assets and over 1.3 million customers across our business divisions; Novuna Consumer Finance, Novuna Vehicle Solutions, Novuna Business Finance, Novuna Business Cash Flow and our European division specialising in Vendor Finance providing innovative finance solutions to enable consumers and businesses to grow and prosper.

We are a wholly owned subsidiary of Mitsubishi HC Capital Inc., strengthening our relationship with one of the world’s largest and most diversified financial groups, with over 11trn yen (£57bn) of assets.

Novuna Business Finance

Novuna Business Finance provides business finance to SMEs and bigger corporations across the UK. This includes asset finance, stocking, block discounting and sustainable project finance provided through brokers, vendor organisations, manufacturers and direct to the business community.     

With an asset portfolio of more than £1.8bn, the business is active across multiple sectors from transport and agriculture to construction and manufacturing and was awarded Best Service from an Asset Based Finance Provider at the 2024 Business Moneyfacts Awards.   

The business’ Sustainable Project Finance team is also supporting the development and construction of sustainable energy and transport projects, which are critical to the decarbonisation of the UK’s infrastructure.

Novuna Business Finance is a trading style of Mitsubishi HC Capital UK PLC, part of Mitsubishi HC Capital Inc., one of the world’s largest and most diversified financial groups, with over 11trn yen (£57bn) of assets.