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Novuna Business Finance Review

Novuna Business Finance (formerly Hitachi Capital Business Finance) is a UK asset finance provider that rebranded in 2022 following Mitsubishi HC Capital's acquisition of Hitachi Capital. The company specialises in vehicle finance, equipment finance, and technology leasing for UK businesses, with manufacturer partnerships across the automotive, technology, and industrial equipment sectors. With roots going back to 1982, Novuna has extensive experience in point-of-sale asset finance and works with dealers and manufacturers to provide end-user business finance at the point of purchase. It remains one of the UK's largest independent asset finance providers outside the clearing banks.

Written by the Lendus editorial team. Last updated: April 2026.

200+ UK lenders
2-minute application
No credit check to apply
FCA-regulated brokers

Amount

£1k – £5M

Rates

4% – 18%

per annum depending on asset type, term, and credit profile

Speed

Same-day decisions on standard deals up to £100,000; 3–5 days for larger facilities

Trustpilot

3.7/5

1,100 reviews

What is Novuna Business Finance?

Novuna Business Finance (Novuna Business Finance Limited) is a UK-based business finance provider founded in 1982 and headquartered in Staines-upon-Thames. Novuna Business Finance (formerly Hitachi Capital Business Finance) is a UK asset finance provider that rebranded in 2022 following Mitsubishi HC Capital's acquisition of Hitachi Capital. The company specialises in vehicle finance, equipment finance, and technology leasing for UK businesses, with manufacturer partnerships across the automotive, technology, and industrial equipment sectors. With roots going back to 1982, Novuna has extensive experience in point-of-sale asset finance and works with dealers and manufacturers to provide end-user business finance at the point of purchase. It remains one of the UK's largest independent asset finance providers outside the clearing banks. They have lent £8 billion to date, helping 200,000+ UK businesses.

Founded 1982 Staines-upon-Thames Novuna Business Finance Limited is authorised and regulated by the Financial Conduct Authority. FCA reference number 710502.

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Products offered

Asset Finance

Rates and costs

Rate range
4% – 18% (per annum depending on asset type, term, and credit profile)
Representative APR
8.9% APR representative
Amount range
£1,000 – £5,000,000
Approval speed
Same-day decisions on standard deals up to £100,000; 3–5 days for larger facilities

Representative example

Borrow £50,000 over 48 months. Total repayable: £59,500. Cost of credit: £9,500. Your rate depends on your circumstances.

Eligibility requirements

Minimum trading history
12+ months preferred; some manufacturer-backed schemes accept startups
Minimum turnover
£50,000 for smaller ticket deals; £250,000 for larger facilities
Credit requirements
Good credit required for standard products. Secured against the financed asset. Manufacturer partnership schemes may have bespoke credit criteria. Credit scoring is automated for smaller deals with manual referral for larger cases.

How to apply

1

Check eligibility through Lendus — answer a few questions about your business and funding needs (2 minutes)

2

We compare Novuna Business Finance against 200+ other lenders to find the best match for your situation

3

Review your matched options — see rates, terms, and eligibility from multiple providers including Novuna Business Finance

4

Choose the best offer and complete the application with your matched lender directly

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Pros and cons

Pros

  • Manufacturer and dealer partnerships — embedded finance at point of purchase
  • Very wide asset coverage including vehicles, technology, and industrial equipment
  • Fast same-day decisions on standard deals up to £100,000
  • Low minimum deal sizes from £1,000 for small equipment purchases
  • Backed by Mitsubishi HC Capital — significant international financial strength

Cons

  • Trustpilot rating lower than most fintech alternatives
  • Less flexible on adverse credit than specialist asset finance providers
  • Primarily accessed through dealer/manufacturer channel rather than direct
  • Rebranding from Hitachi Capital has caused some customer confusion

Is Novuna Business Finance right for you?

Best for

Businesses purchasing vehicles, technology, or equipment through a dealer or manufacturer where Novuna is the embedded finance provider, and those seeking straightforward hire purchase or operating lease on standard assets

Not ideal for

Businesses with adverse credit, those needing unsecured working capital, or borrowers looking for the most flexible bespoke terms on unusual or specialist assets

Novuna Business Finance alternatives

If Novuna Business Finance isn't the right fit, consider these alternatives:

Lombard Close Brothers Shire Leasing Aldermore Bank

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Frequently asked questions about Novuna Business Finance

Is Novuna Business Finance (formerly Hitachi Capital) legit?
Yes, Novuna Business Finance Limited (previously Hitachi Capital Business Finance) is a legitimate FCA-authorised asset finance provider (FCA reference 710502) with roots going back to 1982. The company is part of Mitsubishi HC Capital, one of Japan's largest financial groups, and has provided over £8 billion of asset finance to UK businesses. The Hitachi Capital rebrand to Novuna in 2022 was a corporate rebranding exercise — the underlying company and its regulatory standing remain unchanged.
What are Novuna Business Finance interest rates?
Novuna asset finance rates typically range from 4% to 18% per annum depending on the asset type, deal size, term, and credit profile. The representative APR on standard hire purchase is approximately 8.9%. Manufacturer partnership schemes may offer subsidised rates below standard market pricing. Rates for technology leasing and vehicle finance are individually assessed — a Lendus comparison will show where Novuna sits against other asset finance providers for your specific purchase.
Can I get Novuna asset finance with bad credit?
Novuna uses automated credit scoring on smaller deals and manual underwriting on larger cases. As a mainstream asset finance provider, it applies standard credit criteria and is less flexible on adverse credit than specialist providers such as Close Brothers or Shire Leasing. Asset finance is secured against the asset itself, which provides some mitigation, but businesses with recent CCJs or significant defaults are unlikely to pass standard criteria. Specialist asset finance brokers may be able to source more flexible terms for adverse credit cases.
How much can I borrow from Novuna Business Finance?
Novuna finances assets from as little as £1,000 for small technology purchases up to £5 million for larger equipment or vehicle fleet facilities. Most SME deals fall in the range of £10,000 to £500,000. Deal size is determined by the value of the asset being financed and the creditworthiness of the business. Fleet and multi-asset deals can be structured as a master facility with drawdown on individual assets.
Is Novuna Business Finance FCA regulated?
Yes, Novuna Business Finance Limited is authorised and regulated by the Financial Conduct Authority under FCA reference number 710502. As part of Mitsubishi HC Capital, the company is also subject to group-level regulatory oversight from its Japanese parent. You can verify Novuna's FCA status at register.fca.org.uk.
How fast does Novuna approve asset finance applications?
Novuna offers same-day credit decisions on standard asset finance deals up to £100,000, making it competitive for smaller equipment and vehicle purchases. Larger deals requiring manual underwriting typically take 3 to 5 working days. When accessed through a dealer or manufacturer, decisions can be even faster as part of an embedded finance process. Fund drawdown after approval is typically within 24 to 48 hours.
Can I repay Novuna asset finance early?
Early settlement is available on Novuna hire purchase agreements, though an early settlement charge will typically apply, calculated on the outstanding balance of future payments using the actuarial method as required by the Consumer Credit Act. Operating lease agreements have different early termination terms. Always request a formal settlement figure from Novuna before making any early payment, as the costs can be significant depending on the remaining term.
Novuna vs Lombard — which is better for vehicle and equipment finance?
Novuna Business Finance and Lombard are both major UK asset finance providers but operate in slightly different ways. Lombard (part of NatWest Group) has a broader reach and can handle very large individual asset transactions, making it preferable for major plant, machinery, or fleet finance at scale. Novuna's strength lies in manufacturer and dealer-embedded finance — particularly for technology, commercial vehicles, and equipment purchased through its dealer network. If you are buying through a dealer that has a Novuna relationship, their embedded finance rate may be hard to beat. For standalone direct asset finance, comparing both through Lendus will identify the better deal.

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