Novuna hires 40-year ABL veteran to launch £2m–£25m lending push

What's the deal? Novuna Business Cash FlowDealroom has a profile for this one. Try Dealroom → has launched a new asset-based lending (ABL) proposition offering £2 million to £25 million facilities, and appointed Neil Sturgeon as corporate business development manager to drive it. Sturgeon brings more than 40 years of experience across asset-based lending, receivables finance, and working capital.

What's the endgame? The ABL facility lets businesses raise funding against receivables, inventory, plant and machinery, and commercial property through a single arrangement. Rather than juggling separate facilities per asset class, borrowers get one overall limit, one lending rate, and one monthly fee.

Who's involved? Sturgeon has held senior business development and origination roles at two major banks, working with mid-sized and larger corporates. He will work alongside Dan Lambourne, head of relationship management and corporate, to build ties with corporate finance advisers, debt advisers, and introducers across the UK.

Why now? The move extends NovunaDealroom has a profile for this one. Try Dealroom → beyond its traditional receivables finance offering to support larger businesses with acquisitions, investment, restructuring, and growth. All facilities include invoice finance as part of the overall structure.

"We're seeing more businesses whose funding requirements can no longer be met by looking at receivables in isolation," Lambourne said. He added that many firms have "considerable value tied up across stock, machinery, property and invoices."

The signal: The launch is part of Novuna's wider strategy to evolve from a traditional invoice finance provider into a broader working-capital and cash flow finance business — a bet that mid-sized UK corporates want fewer facilities and a single lender that can read the whole balance sheet.

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