Novuna Business Finance is to partner with the British Business Bank to deliver a pilot of a green asset finance variant of the Bank’s successful Growth Guarantee Scheme. This new variant is designed to increase funding for smaller businesses to invest in green assets that facilitate the transition to a low-carbon economy.
The pilot will focus on assets such as electric vehicles (EV) and EV chargers, solar photovoltaic, heat pumps, wind turbines, battery storage systems and biomass. Using the infrastructure of the existing Growth Guarantee Scheme, the green asset finance variant will help increase the supply of affordable finance for businesses investing in green technologies.
The announcement comes at a time when smaller businesses have started redoubling their commitment to sustainability. Novuna Business Finance research last month 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.
The British Business Bank’s recent 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, commented: “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.”
