Novuna Business Cash Flow launches £2m to £25m ABL proposition
The new proposition will allow businesses to raise funding against receivables, inventory, plant and machinery and commercial property through a single facility.
Novuna Business Cash Flow has launched an asset-based lending (ABL) proposition offering facilities of between £2m and £25m.
The new proposition will allow businesses to raise funding against receivables, inventory, plant and machinery and commercial property through a single facility.
Funding across the different asset classes will sit under one overall limit, lending rate and monthly fee.
All facilities will include invoice finance as part of the funding structure.
Novuna said the launch expands its existing receivables finance proposition and will allow it to support larger and more complex businesses with acquisitions, investment, restructuring and growth.
The lender has also appointed Neil Sturgeon (pictured, left) as corporate business development manager to support the launch.
Sturgeon has more than 40 years’ experience across asset-based lending, receivables finance and working capital, including senior business development and origination roles at two major banks.
He will work alongside Dan Lambourne (pictured, right), head of relationship management and corporate at Novuna Business Cash Flow.
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.”
Sturgeon added: “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.”
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