Novuna Business Finance has announced a partnership with the British Business Bank (BBB) to pilot a green asset finance variant of the Bank’s Growth Guarantee Scheme. The initiative is designed to support smaller businesses in accessing funding for green assets that facilitate the transition to a low-carbon economy.
The pilot will focus on financing assets such as electric vehicles (EVs), EV chargers, solar photovoltaic panels, heat pumps, wind turbines, battery storage systems, and biomass. Leveraging the existing infrastructure of the Growth Guarantee Scheme, the programme aims to increase the availability of affordable finance for businesses investing in sustainable technologies.
The launch comes as small businesses place greater emphasis on sustainability. Novuna Business Finance research found that 88% of SMEs consider sustainability more important at the start of 2025 than a year ago. Similarly, the British Business Bank’s Small Business Finance Markets report highlighted that 53% of smaller businesses are prioritising environmental sustainability over the next year.
Geoff Maleham, Managing Director of Novuna Business Finance, said: “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 committed to supporting SMEs in their journey towards Net Zero.”
The Growth Guarantee Scheme, facilitated by the British Business Bank and delivered through its accredited lenders, provides facilities of up to £2 million to businesses that might otherwise struggle to secure financing. Launched on 1 July 2024, it supports various financial products, including term loans, overdrafts, asset finance, invoice finance, and asset-based lending.
Novuna is a trading name of Mitsubishi HC Capital UK PLC.
“Novuna Business Finance partners with BBB for green asset finance pilot” was originally created and published by Leasing Life, a GlobalData owned brand.
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