Novuna Business Finance partners with British Business Bank on green asset finance pilot

The pilot will provide financing for assets such as electric vehicles (EVs) and EV chargers.

18 March 2025 2 min read

Novuna Business Finance has announced a partnership with the British Business Bank to deliver a pilot of a green asset finance variant within the Growth Guarantee Scheme. The initiative aims to increase funding for smaller businesses investing in green assets that support the transition to a low-carbon economy.

The pilot will provide financing for assets such as electric vehicles (EVs) and EV chargers, solar photovoltaic systems, heat pumps, wind turbines, battery storage systems, and biomass. By leveraging the existing infrastructure of the Growth Guarantee Scheme, the green asset finance variant will help improve access to affordable finance for businesses adopting sustainable technologies.

The announcement follows a growing commitment to sustainability among smaller businesses. Recent research from Novuna Business Finance 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.” Additionally, the British Business Bank’s 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, 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 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.”