Novuna review UK 2026, invoice finance and asset finance from Mitsubishi HC Capital UK

What Novuna lends

Invoice factoring is the fuller service. Novuna advances up to 90% of each invoice, the factoring page gives £9,000 on a £10,000 invoice as its worked example, and Novuna then collects from the customer and pays over the balance, which it says is often within 24 hours of the customer settling. The page says funding can be arranged the same day where needed, that approval and set-up usually take a few days, and that the product is used in construction, wholesale, recruitment, manufacturing, logistics and temporary payroll.

Invoice discounting keeps collections in house. The business raises invoices as normal, draws up to 90% against them, and carries on chasing its own customers; the page says the arrangement is usually confidential and that most facilities go live within 24 to 72 hours of underwriting. Selective invoice finance is a rolling facility where the client picks which invoices to fund, aimed at firms with large individual invoices, seasonal cash flow or a wish to try the product before committing a whole ledger. Spot factoring covers a one-off invoice.

Novuna Business Finance funds equipment through hire purchase and leasing, and its own page states that it does not offer business loans. Sector pages cover construction, manufacturing, transport, agriculture, technology, renewable energy, healthcare, garage equipment and business cars, and the finance products page describes variable deposits, balloon payments and repayments shaped to income cycles. For dealers and manufacturers it runs point of sale finance and stock finance, and for brokers a block discounting line that releases capital tied up in their own customer agreements.

The Business Cash Flow site also says, on its process steps, that it compares providers and can put forward either an in-house facility or an alternative, so an invoice finance enquiry made direct to Novuna can end with another funder. The Business Finance side says it has funded over £5bn to UK companies across more than 50 industries during 40 years of trading.

Who Novuna lends to

Invoice finance is judged on the invoices. The factoring page says eligibility rests on the value of what a business has billed rather than its trading history, that new businesses are taken on, and that no fixed assets are needed. The one hard rule on the enquiry form is that the business invoices other businesses on trade credit terms, so a retailer selling to the public has nothing to fund. Wholesalers, manufacturers, agencies and construction firms are the examples the invoice finance page gives.

Asset finance has a firmer bar. Applicants must be a UK limited company, public limited company, limited liability partnership, sole trader or partnership, must have traded for at least three years, and must want hire purchase or leasing. The deposit FAQ says Novuna “normally ask for a minimum 10% deposit” and sets the figure case by case on affordability, and the information FAQ says it may ask for the latest accounts and bank statements to show the monthly repayments are affordable when due. Each request, another FAQ says, is assessed individually across a number of factors by its underwriters.

Both sites carry the same footer: Novuna is a trading style of Mitsubishi HC Capital UK PLC, authorised and regulated by the FCA under Financial Services Register number 704348, and the entry can be read at register.fca.org.uk. A hire purchase agreement with a sole trader may fall within consumer credit rules where a company agreement would not, which changes the paperwork rather than the decision.

How an application runs

An invoice finance enquiry starts with the business describing its invoice profile, after which Novuna says it compares options, supports the application and onboards the client, quoting 24 to 72 hours as the usual time to cash. The cash flow team is open 08:45 to 17:15 Monday to Thursday and 08:45 to 16:45 on Friday, and once a facility is live an invoice raised today can be funded tomorrow.

Asset finance brokers submit through Mercury, Novuna's online proposal system, which the broker page says gives control of what is submitted and tracks each proposal's progress, with a document portal for farm and commercial paperwork alongside. Direct applicants use the enquiry forms on the site, and the deposit and payment schedule are settled at the start of the agreement. The Business Finance desk answers 8:00 to 18:00 on weekdays.

Send the figures to us and they are read against Novuna and the rest of the panel before any proposal goes in, then a named case handler submits through the right Novuna channel. We arrange; Novuna decides. Enquiring does not affect your credit score.

Novuna on our panel

At September 2026 our 4 Novuna invoice finance products ran from £25,000 through to £25m over facility terms of 3 months through to 12 months, and the 4 asset finance products from £5,000 through to £10m over 1 month through to 7 years. The two categories are kept apart on purpose, since a ledger facility and a seven-year hire purchase have nothing in common beyond the lender, and each span describes what we held on that date rather than a quote.

For context, at September 2026 we counted 14 lender brands on the panel with a live invoice finance product open to a start-up, 15 taking a business under a year old and 17 accepting a non-homeowner director; on assets, 31 brands fund factory plant, 23 gym equipment and 18 EV charging. Each is a count of brands with at least one live product, and says nothing about Novuna's own rules.