Novuna Business Cash Flow has launched a new asset-based lending proposition for UK businesses, offering facilities from GBP 2 million to GBP 25 million. The lender has also appointed Neil Sturgeon as corporate business development manager to support the rollout.
The new product expands Novuna’s funding offer beyond receivables finance. It allows companies to raise funding against receivables, inventory, plant and machinery, and commercial property through one integrated facility.
Novuna said every facility will include invoice finance as part of the overall structure. The wider asset-based lending model allows eligible businesses to combine several asset classes within one funding arrangement instead of relying only on receivables.
The new offer targets mid-sized and larger UK businesses that need funding for acquisitions, investment, restructuring, or growth. Novuna said individual facilities will range from GBP 2 million to GBP 25 million, based on the borrower’s funding needs and available assets.
Dan Lambourne, Head of Relationship Management and Corporate at Novuna Business Cash Flow, said, “We’re seeing more businesses whose funding requirements can no longer be met by looking at receivables in isolation.”
He further added that some firms hold value across stock, machinery, property, and invoices. According to Lambourne, the new ABL facility will let Novuna combine those assets and provide more funding capacity when businesses invest, expand, or pursue acquisitions.
Novuna appointed Neil Sturgeon as corporate business development manager as part of the launch. Sturgeon brings more than 40 years of experience in asset-based lending, receivables finance, and working capital funding.
Sturgeon previously held senior business development and origination roles with two major banks. In those positions, he worked with mid-sized and larger corporate clients across a range of sectors and funding situations.
He will work with Lambourne to expand Novuna Business Cash Flow’s presence in the corporate funding market. Sturgeon will also build relationships with corporate finance advisers, debt advisers, and professional introducers across the UK.
“There is a real opportunity to build a strong ABL proposition at Novuna,” Sturgeon said. He added that the business already has an established invoice finance platform, funding capacity, and plans to expand further in the corporate market.
Novuna designed the new structure for companies that want one lender to assess a broader range of business assets. The facility can support businesses whose funding needs have moved beyond invoice finance alone while keeping receivables finance within the overall arrangement.
Sturgeon said advisers and clients often need a lender that can review the full funding requirement rather than place a business into one product. He said asset-based lending can support companies during growth, acquisitions, restructuring, or other periods of change.
The launch broadens Novuna Business Cash Flow’s corporate funding range while keeping invoice finance at the centre of each facility. The company plans to use the ABL proposition to handle larger and more complex funding requests and strengthen relationships with advisers across the UK corporate market. Novuna said the expansion forms part of its wider corporate funding strategy.