Novuna Business Cash Flow has introduced a new asset-based lending (ABL) facility for UK businesses, offering funding between £2 million and £25 million. The lender has also appointed Neil Sturgeon as corporate business development manager to drive growth in the corporate funding and adviser relationship space.
The new product expands Novuna’s funding options beyond traditional receivables finance. Companies can now raise capital against a combination of receivables, inventory, plant and machinery, and commercial property through a single, integrated facility. Each ABL arrangement will include invoice finance as a core component, allowing businesses to leverage multiple asset classes within one funding structure.
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 added that many firms hold value across stock, machinery, property, and invoices, and the new ABL facility enables Novuna to combine those assets to provide greater funding capacity for investment, expansion, or acquisitions.
Neil Sturgeon brings over 40 years of experience in asset-based lending, receivables finance, and working capital funding. He previously held senior business development and origination roles at major banks, working with mid-sized and large corporate clients across various sectors. Sturgeon will collaborate with Lambourne to strengthen Novuna’s corporate market presence and 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 noted that the business already has an established invoice finance platform, ample funding capacity, and plans to expand further in the corporate market.
The new ABL facility is designed for companies that want a single lender to assess a broader range of business assets, supporting needs that have moved beyond invoice finance alone. Sturgeon emphasized that advisers and clients often require a lender that can review the full funding requirement rather than fitting a business into one product. The facility can support growth, acquisitions, restructuring, or other periods of change.
Novuna said the launch is part of its wider corporate funding strategy, aiming to handle larger and more complex funding requests while strengthening adviser relationships across the UK corporate market.