Novuna Business Finance partners with BBB for green asset finance pilot
Novuna Business Finance has announced a partnership with the British Business Bank (BBB) to pilot a green asset finance variant of the Bank's Growth Guarantee Scheme. The initiative is designed to support smaller businesses in accessing funding for green assets that facilitate the transition to a low-carbon economy.
The pilot will focus on financing assets such as electric vehicles (EVs), EV chargers, solar photovoltaic panels, heat pumps, wind turbines, battery storage systems, and biomass. Leveraging the existing infrastructure of the Growth Guarantee Scheme, the programme aims to increase the availability of affordable finance for businesses investing in sustainable technologies.
The launch comes as small businesses place greater emphasis on sustainability. Novuna Business Finance research found that 88% of SMEs consider sustainability more important at the start of 2025 than a year ago. Similarly, the British Business Bank's Small Business Finance Markets report highlighted that 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 committed to supporting SMEs in their journey towards Net Zero.'
The Growth Guarantee Scheme, facilitated by the British Business Bank and delivered through its accredited lenders, provides facilities of up to £2 million to businesses that might otherwise struggle to secure financing. Launched on 1 July 2024, it supports various financial products, including term loans, overdrafts, asset finance, invoice finance, and asset-based lending.
Novuna is a trading name of Mitsubishi HC Capital UK PLC.
"Novuna Business Finance partners with BBB for green asset finance pilot" was originally created and published by Leasing Life, a GlobalData owned brand.
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Politico
a day ago
- Politico
The Ideological Schism Fueling the Trump-Musk Fight
Amid the fallout of the messy public feud between Doland Trump and Elon Musk, it is instructive to think back to Dec. 26, 2024. That day marked the start of another intra-GOP skirmish that nearly fractured the elite core of the MAGA coalition. The December brawl — which, like the latest one, unfolded primarily online — pitted two high-profile factions of the Trumpian right against one another over the issue of high-skilled immigration. The nationalist-populist right, led by MAGA strategist Steve Bannon, urged the incoming administration to end the H-1B visa program as part of a broader crackdown on immigration. The so-called tech right, led by Musk, wanted Trump to defend the program on the grounds that high-skilled immigration is integral to spurring economic growth and fueling 'American dynamism.' Ultimately, the tech right carried the day, with Trump intervening in the online spat to defend the H-1B program. After the feud, the two sides struck a tentative peace, and the contretemps quieted down as Trump reentered office. But the renewal of hostilities between Trump and Musk this week shows that the underlying ideological disagreement between the two factions was never really resolved. And despite all the current bluster about the 'big, beautiful' spending bill, the Epstein files, the ballooning national debt and Musk and Trump's overlarge egos, that divide still runs straight through the same issue that carved up the factions back in December: immigration. That may seem counterintuitive, given that the latest blow-up between Trump and Musk is ostensibly over the fiscal consequences of Trump's megabill — and specifically Musk's contention, supported by independent analyses but rejected by the Trump administration, that the bill would add significantly to the federal debt. But when you strip away all the salacious controversies swirling around the 'BBB,' the fight over the legislation ultimately boils down to the question of whether cracking down on immigration should stand alone as the Trump administration's guiding priority. In the eyes of the MAGA populists, the $155 billion that the BBB appropriates for immigration enforcement and Trump's mass deportation efforts more than justify its passage, whatever its fiscal shortcomings might be. As Stephen Miller, the populist right's go-to immigration hawk, recently put it, the bill includes 'the most significant border security and deportation effort in history' — a fact which 'alone makes this the most important legislation for the conservative project in the history of the nation.' That immigration is at the center of the administration's pitch for the bill should come as no surprise. Since 2016, the issue has been the ideological keystone around which Trump has built his protean and sometimes unwieldy coalition. During the 2024 campaign, Trump and his running mate, JD Vance, proposed solving practically every issue that was thrown their way — from the housing shortage to inflation to 'wokeness' — by tying it back to their promised immigration crackdown. Once in office, the president's first acts included claiming unprecedented emergency authority to carry out his plan for mass deportations. But the centrality of immigration created tension as Musk and his fellow travelers on the tech right began to enter MAGA fold in the leadup to the 2024 election. The tech right threw its weight behind Trump's proposed agenda on immigration, but it was never the group's top priority. Much more important for MAGA's tech faction was taming the federal deficit, which Musk and others moguls — notably Marc Andreessen and Peter Thiel — continue to view as an existential threat to the country's future. Their anxiety about the federal debt is rooted as much in their libertarianism as it is in their self-interest: every dollar the federal government spends servicing the federal debt is a dollar that it does not invest in the supposedly revolutionary technologies — backed by their firms — that they believe will lead to true 'American dynamism.' The misalignment between the priorities of the populist right and the tech right was clear from the start. It was apparent to Miller, who just this week raged that 'you will never live a day in your life where a libertarian cares as much about immigration and sovereignty as they do about the Congressional Budget Office.' It was also apparent to Vance — a perceptive observer of the coalitional dynamics within the MAGA movement — who dedicated an entire speech earlier this spring to arguing that immigration restriction and technological innovation could be mutually-reinforcing goals. 'This idea that tech-forward people and the populists are somehow inevitably going to come to a loggerhead is wrong,' said Vance, identifying himself as 'a proud member of both tribes.' Vance, it turns out, was wrong. To the contrary, the Trump-Musk schism is proof that MAGA loyalists can't have their cake and eat it too. They must choose — a maximalist immigration crackdown, or something else. The vengeance with which the populist right has turned on Musk since his spat with Trump is proof of what happens when a Trump ally — even the richest man on Planet Earth — chooses something else. That the fight really hinged on immigration became clear from the commentary coming out of the populist right. 'Debt is BAD. 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Vance, the presumptive heir to the MAGA throne, has been building his own independent fundraising network since 2022, which could insulate him from any Musk-related financial aftershocks. Vance 2028 would certainly like to have access to Musk's campaign dollars, but it's not reliant on them. In the long run, though, the Trump-Musk feud will cement immigration as the critical litmus test for membership in Trump's GOP. The critical ideological fault line within the MAGA movement runs between people who view immigration restriction as a means to an end and those who see it as an end in themselves. The thrashing of Elon Musk is a warning to anyone who finds themselves on the wrong side of that divide.
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2 days ago
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In his instance, on a platform he bought for $44 billion in 2022, changing the name from Twitter to X. 'I love @realDonaldTrump as much as a straight man can love another man,' Musk posted in February. Musk often brought along the toddler son he also named X to the Oval Office. The boy picked his nose during one visit and wiped the result on the Resolute Desk. The famously germaphobic Trump was seemingly so enthralled with Musk's money and online sway that he said nothing and simply had the desk refinished. But however successful Musk had been as a businessman, he fell far short with his Department of Government Efficiency, which the whole country came to know as DOGE., His young minions created maximum chaos while achieving a small fraction of the promised savings, often ignoring the law as they did it and then falsely reporting the results. 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He looked tense, but it seemed that might have been the result of a news report about his suspected drug use At one point, Musk looked around the freshly gilded office he would never be able to occupy despite his billions of dollars and millions of followers on X. 'The Oval Office finally has the majesty that it deserves, thanks to the president,' he said. Trump presented Musk with a golden key to the White House, where he can never reside. Both men said nice things about each other. 'One of the greatest business leaders and innovators the world has ever produced,' Trump said. 'Elon's service to America has been without comparison in modern history.' Musk pledged, 'The DOGE teams will only get stronger over time.' But as a full blown narcissist, Musk could not just let it end so far short of success. He had to show his power by smashing something. On Tuesday, Musk took the first step toward what would become a break-up in front of millions. Musk had said nothing negative about the BBB at the White House farewell and there had been no significant changes to it since them. But he now denounced it on X as 'a disgusting abomination.' 'I'm sorry, but I just can't stand it anymore,' he wrote, now calling the BBB 'this massive, outrageous, pork-filled Congressional spending bill.' 'Shame on those who voted for it: you know you did wrong,' he added 'You know it.' He subsequently vowed to 'fire' any legislators who supported it. Remarkably, the equally narcissistic Trump did not immediately respond, and it seemed he may have remained under the spell of Musk's money and online clout. But on Thursday, during a televised Oval Office meeting with new German Chancellor Friedrich Merz, Trump allowed that he was 'very disappointed in Elon.' 'Elon's upset because we took the [electric vehicle] mandate and–you know, which was a lot of money for electric vehicles,' Trump then said.'He only developed a problem when he found out I would cut the EV mandate,' Musk must have been watching. 'Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate,' Musk wrote on X. 'Such ingratitude.' The two major world figures kept posting when they could have just gotten on the phone. They instead played it out so it was read live by millions who comprised an intended audience. 'Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public,' Musk wrote. 'Have a nice day, DJT!' What was most distressing about this deliberately public dispute between the world's richest man and its most powerful was that neither seemed more emotionally mature than your basic junior high student. 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2 days ago
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Donald Trump and Elon Musk's Friendship Implodes: All the Insults They Have Exchanged So Far Today
President Donald Trump and Elon Musk are feuding over the administration's "Big, Beautiful Bill" on social media The pair have exchanged a number of insults towards one another Musk claimed that Trump was "in the Epstein files," while Trump claimed that Musk was made aware of EV/Solar cuts that Musk later claimed he was never shownPresident Donald Trump and Elon Musk's feud continues to escalate as the pair lobbed insults at one another over social media today. The origin of the back-and-forth lay in Musk's criticism of what the administration has called the "Big, Beautiful Bill," which has already passed the House of Representatives. During an interview with CBS Sunday Morning that aired on June 1, but was released earlier on May 27, Musk said he was "disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it," adding that it "undermines" the work the Department of Government Efficiency (DOGE) was doing. The bill is funding its tax cuts and military spending in part by cutting some federal health and energy programs. However, it is also poised to add an estimated $3.8 trillion to the national deficit, according to the nonpartisan Congressional Budget Office. A day after portions of the CBS interview were released, Musk confirmed he was leaving DOGE. On May 30, Musk went to the Oval Office for an on-camera meeting with Trump. The increasingly public feud between Musk, 53, and Trump, 78, reached a new level on Thursday, June 5, beginning when Musk shared a clip from his interview on Fox Business, in which he also criticized the "Big, Beautiful Bill." The two traded barbs on X and Truth Social throughout the day. In the Fox Business clip, Musk says, "I can't believe I'm here doing this. It's kind of bizarre. But I kind of think that we've got this enormous federal budget deficit. And it's a $2 trillion deficit. It keeps growing." "Our interest payments, our higher than our defense department budget. That's, I think was the real wake up call for me was looking at seeing that the interest payments, the national debt exceeded the Defense Department budget. And that was only growing over time, which meant if we didn't do something about this, uh, then there won't be any money for anything." "That's what it comes down to," Musk added on X. The bill, should it pass the Senate and be signed into law, would introduce significant cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP) by implementing more requirements on possible beneficiaries. Musk subsequently shared a Tweet from a user supporting his stance on the BBB, which read, "The majority of republican *voters* strongly agree with Elon and want the BBB trimmed down@elonmusk left the Democratic Party and sacrificed much in his relentlessly supported the GOP. The GOP leadership should give his counsel serious consideration." Musk captioned the retweet with a simple "Yes." Next, Musk reposted a tweet that Trump shared on Jan. 23, 2013. "I cannot believe the Republicans are extending the debt ceiling—I am a Republican & I am embarrassed!" Trump wrote at the time. "Wise words," Musk added. "Shockingly, the Democrat controlled CBO just announced that the Tariffs will be reducing the Deficit by at least $2.8 Trillion Dollars," Trump wrote on Truth Social in response." "Too bad this information couldn't have been released earlier, it would have kept people from knowingly saying untruths," he continued, alleging that Musk was lying about the federal budget deficit. "I don't mind Elon turning against me, but he should have done so months ago," Trump wrote in another Truth Social post during the day. "This is one of the Greatest Bills ever presented to Congress. It's a Record Cut in Expenses, $1.6 Trillion Dollars, and the Biggest Tax Cut ever given. If this Bill doesn't pass, there will be a 68% Tax Increase, and things far worse than that. I didn't create this mess, I'm just here to FIX IT. This puts our Country on a Path of Greatness. MAKE AMERICA GREAT AGAIN!" Musk retweeted another tweet Trump previously shared on July 31, 2012, which read, "No member of Congress should be eligible for re-election if our country's budget is not balanced---deficits not allowed!" Musk captioned the retweet, "I couldn't agree more!" followed by two American flag emojis. Musk also reposted a tweet that read, "DOGE: Democrats are calling Trump's decision to end federal funding for California's high-speed rail project 'heartless'. With just 35 years left to complete the project was 'so close' to completion you could almost imagine your grandchildren riding the rails. The good news is that they won't have anything to tear down." "Sensible move by President @realDonaldTrump," Musk added. "Slim Beautiful Bill for the win," Musk wrote in one tweet, followed by another in the same thread that read, "Keep the good, remove the bad." During Trump's meeting with German Chancellor Friedrich Merz, the president claimed Musk was aware of cuts to EV and solar power incentives, which will impact his electric vehicle and clean energy company, Tesla. "Elon is upset because we took the EV mandate, which was a lot of money for electric vehicles," Trump said. "They're having a hard time the electric vehicles, and they want us to pay billions of dollars in subsidy. Elon knew this from the beginning." Musk reposted a clip of Trump's claim, writing, "Whatever. Keep the EV/solar incentive cuts in the bill, even though no oil & gas subsidies are touched (very unfair!!), but ditch the MOUNTAIN of DISGUSTING PORK in the bill.""In the entire history of civilization, there has never been legislation that both big and beautiful," he continued. "Everyone knows this! Either you get a big and ugly bill or a slim and beautiful bill. Slim and beautiful is the way." "I'm very disappointed with Elon. I've helped him a lot," Trump said Thursday. "He knew the inner workings of the bill better than anybody sitting here. He had no problem with it. All of a sudden he had a problem and he only developed the problem when he found out we're going to cut EV mandate." Musk posted the clip, alleging, "False, this bill was never shown to me even once and was passed in the dead of night so fast that almost no one in Congress could even read it!" Later, Musk reposted a clip of Rep. Andy Ogles of Tennessee stating his support for making changes to the "Big, Beautiful Bill." "I'm all in for more cuts to the bill. It's big, but it's not beautiful yet," Ogles, who voted for the bill, said. "The Senate's job is to make the bill better before sending it back to us. The House's job is to pass DOGE rescissions and EO codification bills that are collecting dust. Not to go home." Musk captioned the repost with an American flag emoji. Musk reposted another X user's collage of old Trump tweets expressing contrary financial viewpoints to those of the bill. "Where is this guy today??" Musk captioned the repost. "Without me, Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate," Musk claimed in another tweet. After several retweets of support for himself, Musk returned to criticizing Trump by sharing a video from March 11, the day Trump and Musk showed off Tesla cars on the White House lawn. "What about Elon? Did he call? He never even mentioned it to he never complained until this moment. I'm just bringing it up. Who would do that?" Trump said. Trump continued to claim, "He has never asked me for a thing, and he's built this great company, and he shouldn't be penalized because he's a patriot. He's an incredible patriot. And I don't even know if he's a Republican," to which Musk is seen laughing while holding one of his children's hands. "Remember this? @realDonaldTrump," Musk wrote in the repost. "Elon was 'wearing thin,' I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!" Trump wrote on a Truth Social post. In another Truth Social post, Trump threatened to cut billions in federal subsidies and tax cuts for Musk's companies. 'The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon's Governmental Subsidies and Contracts,' the president wrote, per the New York Times. 'I was always surprised that Biden didn't do it!' Musk shared a screenshot of this message, adding, "In light of the President's statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately." "This is a shame this back and forth. You are both better than this. Cool off and take a step back for a couple days," an X user replied, prompting Musk to write, "Good advice. Ok, we won't decommission Dragon." "Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!" Musk claimed in another tweet. Trump's name has previously been publicly linked with Jeffrey Epstein. His name was mentioned in flight logs released earlier this year by Attorney General Pam Bondi a total of seven times. The appearance of Trump's name in the flight logs does not immediately implicate him, however — Trump was friends with the disgraced financier and pedophile for decades until the mid-2000s and many of the individuals named could have been on Epstein's plane for legitimate reasons. A Justice Department spokesperson had no immediate comment on calls to release more Epstein-related files when the New York Times asked about Musk's claim. In another of his tweets Thursday, Musk predicted, "The Trump tariffs will cause a recession in the second half of this year." Read the original article on People
