Novuna Business Finance has launched a new block discounting facility for sustainable technologies. The product, which is suitable both for existing block customers and those looking to expand into this sector, focuses on assets which demonstrate a nature of sustainability and comes with favourable rates and facility sizes from £500,000 to £30 million.
Reflecting the average finance period in this market, sustainable blocks are now offered up to seven years.
Richard Underwood, block manager at Novuna Business Finance (the new name for Hitachi Capital Business Finance) said: “Our new block product reflects our commitment at Novuna Business Finance to helping achieve the United Nations sustainable development goals. We understand the importance of matching facility terms to the requirements of more sustainable asset finance and our smooth onboarding process means that new lines can be open as quickly as a few weeks after application.”
Janine Harman, structured and wholesale manager, explained: “Making changes to our products is essential to giving customers a platform to realise their own sustainability goals and deliver finance that fits the developing needs of UK SME’s. Our new offering means that customers can develop their sustainability offering in the comfort that they know they have a funder that will support their journey with both block funding and technical support.”
