Top 38 UK Business Asset Finance Providers

Purchasing new or used assets for your business can be costly and can affect your cash flow which often many businesses find difficult, but the asset is needed for the business and may improve efficiency.

Asset finance has been designed to help businesses to spread the cost of the asset over an agreed period or to lease the asset for an agreed period whilst benefiting from the asset.

At the end of the agreed period on some asset finance products, you may be able to own the asset and on others, you won’t but you may be able to extend the rental period. Below we have explored what the leading providers can offer.

Companies are ranked in no particular order.

1. ABC Finance

• Provides a brokerage service
• Allows you to purchase or refinance assets
• Offers a range of asset finance products including hire purchase, finance lease, operating lease and asset refinance
• Can be used for hard assets such as machinery, equipment and vehicles
• Soft assets such as furniture, lighting and internal refurbishment
• Own the equipment whilst paying it off
• Terms could be received within 2 hours in some cases
• Will search for the best deals for you and work with the lender to manage the application to completion
• Rates starting from 3%
• Enquire online

Website ABC Finance Asset Finance
Read the full ABC Finance review

2. ABN AMRO Commercial Finance

• Offers asset-based lending
• Release funding from your assets and invoices
• Raise from £50,000 to £50 million
• Release up to 80% of the market value on plant and machinery
• Raise up to 60% on property
• Access up to 50% on finished products
• Will build a tailored package
• Provide continuity of funding
• Financing for a range of purposes
• Contact them over the phone or enquire online

Website ABN AMRO Commercial Finance Asset Finance
Read the full ABN AMRO Commercial Finance review

3. Aldermore

• Provides a brokerage service
• Offers funding and leasing of assets
• Spread the cost of equipment purchases
• Flexible finance options
• Choice of hire purchase, lease and refinance
• Borrow from £15,000 to £5 million
• Tailored solutions
• Choice of fixed/structured rentals
• Caters for SMEs
• Enquire online

Website Aldermore Asset Finance
Read the full Aldermore review

4. Allied Irish Bank

• Offers a range of asset finance solutions
• Cost-effective and tax-efficient
• Flexible borrowing
• Borrow from £25,000
• Terms from 3 to 5 years
• Suitable for equipment and vehicles
• Competitive terms
• Option to choose a fixed rate of interest
• No other security required
• Call them to apply

Website Allied Irish Bank Asset Finance

5. Bank of Scotland

• Offers asset finance solutions in partnership with Lloyds Bank
• Borrowing from £15,000
• Available for machinery, equipment and vehicles
• Can fund up to 100% of the asset purchase
• Regular fixed repayments over an agreed period
• Choice of hire purchase or finance lease
• Pay a small fee at the end of the term to own the asset (hire purchase)
• Option to extend the lease or sell the asset at the end of the lease (finance lease)
• Businesses must have been trading for over 2 years and have a turnover above £100,000
• Contact Lloyds Bank to access this product

Website Bank of Scotland Asset Finance
Read the full Bank of Scotland review

6. Barclays

• Offers asset finance services
• Designed to fund business critical assets
• Collaboration between Barclays and Propel
• Propel provides a bespoke asset finance service
• Choice of hire purchase and unlocking value from existing assets
• Borrow from £5,000 to £2 million
• Can fund up to 100% of the asset
• Terms from 1 to 7 years
• Option to purchase the asset
• Call them to apply or for further information

Website Barclays Asset Finance
Read the full Barclays review

7. Bibby Financial Services

• Offers a choice of asset finance products
• Hire purchase where you own the asset at the end of the term
• Leasing where you rent the equipment without ownership
• Can also refinance existing assets
• Affordable repayments
• A tailored approach to funding
• Lower initial payments and low deposit
• Optional payment holidays
• Offers pre-agreed and guaranteed early settlement charges
• Call them to find out more or to apply

Website Bibby Financial Services Asset Finance
Read the full Bibby Financial Services review

8. Bluestar Leasing

• Offers a few asset finance products
• Funds a wide range of assets
• Hire purchase
• Leasing
• Borrowing from £1,000
• Terms from 2 to 7 years
• Option to refinance existing assets
• Provides quick credit decisions
• Suitable for a wide variety of businesses including start-ups
• Enquire online

Website Bluestar Leasing Asset Finance
Read the full Bluestar Leasing review

9. Braemar Finance

• Offers a choice of asset finance products
• Hire purchase
• Leasing
• Ownership of assets (hire purchase)
• Claimable against your taxable profit
• Fixed repayments
• Tailored agreements
• Quick decisions
• In-house specialist underwriters
• Enquire online

Website Braemar Finance Asset Finance
Read the full Braemar Finance review

10. Cambridge and Counties Bank

• Provides asset finance options
• Hire purchase
• Finance lease
• Finances a variety of vehicles and machinery up to 100%
• Lending up to £1.5 million per single asset
• Provides quick decisions
• Fixed interest rates on terms up to 7 years
• Ownership of the assets (hire purchase)
• Rent the asset at a nominal rate or sell the asset (finance leasing)
• Phone them to apply or find out more

Website Cambridge and Counties Bank Asset Finance

11. Close Brothers

• Offers a variety of asset finance products
• Hire purchase
• Refinance/capital release
• Finance or operating lease
• Suitable for equipment, vehicles, plant and technology
• Option to purchase the asset outright (hire purchase)
• Flexible repayments that can factor in seasonal fluctuations in cash flow
• Tax-efficient as can be offset against profits
• Enter a secondary rental period or sell the asset (leasing)
• Enquire over the phone

Website Close Brothers Asset Finance
Read the full Close Brothers review

12. CMF Business Finance

• Offers a choice of asset finance
• Hire purchase
• Lease
• Refinancing existing assets
• Lending from £1,000 to £1 million
• Offers staged payments
• Reduce tax liability
• Quick to set up
• A decision can be received within 4 hours
• Contact them over the phone for further details and a quote

Website CMF Business Finance Asset Finance
Read the full CMF Business Finance review

13. Danske Bank

• Offers a range of products
• New and used business equipment
• Suitable for vehicles, trailers, machinery and equipment
• Hire purchase
• Contract hire
• Leasing
• Ownership of options available
• Tailored solution
• Dedicated team
• Apply over the phone

Website Danske Bank Asset Finance

14. Eastern Credit

• Offers a choice of asset finance
• Hire purchase
• Finance lease
• Borrow from £5,000 to £150,000
• Fixed rates
• Decisions made the same day
• Terms up to 60 months
• Competitive rates
• Flexible underwriting
• Contact them by phone to find out more and apply

Website Eastern Credit Asset Finance
Read the full Eastern Credit review

15. Hampshire Trust Bank

• Offers structured asset finance
• Tailored and bespoke packages
• Hire purchase
• Leaseback
• Offers up to 80% LTV
• Borrow from £150,000 to £5 million
• Terms from 12 to 84 months
• Accepts property as an extra security
• Considers balloon and seasonal payments
• Apply over the phone

Website Hampshire Trust Bank Asset Finance

16. Hitachi Capital

• Offers asset finance products
• Hire purchase
• Business equipment purchase
• Borrowing from £10,000 to £500,000
• Competitive financing terms
• Instant funding decisions can be made
• Funding can be released in 24 hours
• Terms from 2 to 5 years
• Purchase options available at the end of the term
• Apply online

Website Hitachi Capital Asset Finance
Read the full Hitachi Capital review

17. HSBC

• Offers a range of asset finance
• Hire purchase
• Finance lease and operating lease
• Asset loan
• Tailored solutions
• Suitable for vehicles, IT hardware and software
• Ownership of the asset (hire purchase)
• The asset will be sold at the end of the term (lease)
• Fund new or replace old assets
• Call them to get a quote

Website HSBC Asset Finance
Read the full HSBC review

18. Independent Growth Finance

• Offers a range of asset-based lending
• Borrow against your existing assets
• Plant and machinery up to 75% of the value
• Property up to 75% of LTV
• Inventory up to 85% of eligible value
• Invoices up to 90% of invoice values
• Increases cash flow
• Offers fast decisions
• Loans up to 4 years on plant and machinery
• Contact them over the phone for more details

Website Independent Growth Finance Asset Finance
Read the full Independent Growth Finance review

19. LendingCrowd

• Offers asset purchase only
• Suitable for purchasing new machinery or vehicles
• Can also be used for office equipment and machinery
• Flexible terms
• Early repayment option
• Fixed monthly repayments
• Borrow from £5,000 to £500,000
• Terms from 6 months to 5 years
• Decisions can be made in 24 hours
• Apply over the phone

Website LendingCrowd Asset Finance
Read the full LendingCrowd review

20. Lloyds Bank

• Offers a range of asset finance
• Hire purchase
• Finance lease
• Sale and hire purchase back
• Funding from £15,000
• Suitable for plant, machinery, vehicles and office equipment
• Fixed regular payments
• Up to 90% of asset purchase price
• Must have a turnover above £100,000 and have been trading for over 2 years
• Get a quote online or call to apply

Website Lloyds Bank Asset Finance
Read the full Lloyds Bank review

21. Lombard

• Provides a choice of asset finance products
• Hire purchase
• Lease finance
• Fund assets such as vehicles, equipment and technology
• Regular fixed payments
• Offset against taxable profits
• No arrangement fees
• Instant credit decision
• Product fees may apply
• Get a quote online

Website Lombard Asset Finance
Read the full Lombard review

22. Metro Bank

• Offers asset finance solutions
• Hire purchase
• Finance lease
• Suitable for machinery, vehicles and equipment
• Refinance assets
• Fixed monthly repayments
• Can factor in seasonal cash flow fluctuations
• 10% deposit required, remaining 90% finance offered
• Terms up to 5 years
• Apply over the phone

Website Metro Bank Asset Finance
Read the full Metro Bank review

23. NatWest

• Offers a range of asset finance
• Hire purchase
• Residual value lease
• Finance lease
• Contract hire
• Can buy vehicles and equipment
• Monthly payments
• Terms from 1 to 10 years
• Flexible deposit amounts
• Apply over the phone

Website NatWest Asset Finance
Read the full NatWest review

24. Nucleus Commercial Finance

• Offers asset-based lending
• Funds assets including plant and machinery, property, stock and invoices
• A Survey of the assets is required
• Borrow from £100,000 to £50 million
• Fixed cost starting at 4%
• Once your application is approved funding can be received in a day
• Dedicated relationship manager
• Available to all sectors in England and Wales
• Suitable for established businesses and start-ups
• Request a callback to discuss this further

Website Nucleus Commercial Finance Asset Finance
Read the full Nucleus Commercial Finance review

25. Paragon Bank

• Offers asset finance solutions for SMEs
• Suitable for equipment, vehicles, machinery and technology
• Finance lease
• Hire purchase
• Operating lease
• Refinance/sale and hire purchase back
• Fixed repayments
• Seasonal payment options
• Claim tax benefits
• Call them to find out more

Website Paragon Bank Asset Finance
Read the full Paragon Bank review

26. Peak Cashflow

• Offers a range of asset finance solutions
• Provided through their packages or brokerage network
• Suitable for machinery, vehicles, computers and specialist equipment
• Equipment leasing
• Vehicle leasing
• Asset refinance
• Quick turnaround time
• Specialist team
• Offers a free 45 minute consultation
• Enquire online for more information

Website Peak Cashflow Asset Finance
Read the full Peak Cashflow review

27. PFC Finance

• Provides a range of asset finance
• Lease purchase
• Finance lease
• Refinancing assets
• Sale and leaseback
• Suitable for new or second equipment
• Can purchase plant, machinery, IT and furniture
• Fixed monthly repayments
• No obligation quote
• Enquire online

Website PFC Finance Asset Finance
Read the full PFC Finance review

28. Rangewell

• Offers a choice of asset finance products
• Hire purchase
• Leasing and contract hire
• Terms from 6 to 72 months
• Annual rates starting at 6%
• No maximum loan amount
• Funds any type of equipment
• Offers up to 100% funding
• No capital required
• Apply online

Website Rangewell Asset Finance
Read the full Rangewell review

29. Royal Bank of Scotland

• Offers asset finance options
• Hire purchase
• Finance lease
• Contract hire
• Provided in partnership with Lombard
• Flexible terms from 1 to 10 years
• Can be tailored to meet your needs
• Fixed monthly payments
• Tax relief for qualifying assets
• Call them to discuss it further

Website Royal Bank of Scotland Asset Finance
Read the full Royal Bank of Scotland review

30. Satellite Finance

• Provides a choice of asset finance
• Hire purchase
• Equipment leasing
• Refinancing equipment
• Fixed monthly payments
• Terms of 12 to 72 months
• Tax-efficient
• The asset is sold at the end of the term (leasing)
• Own the asset at the end of the term (hire purchase)
• Phone them for more details

Website Satellite Finance Asset Finance
Read the full Satellite Finance review

31. Shawbrook Bank

• Offers a range of asset finance products
• Hire purchase
• Finance lease
• Sale and leaseback
• Refinance
• Suitable for equipment, vehicles and machinery
• Offers tailored options
• Flexible repayment schedules
• Caters for a wide range of sectors
• Enquire online

Website Shawbrook Bank Asset Finance

32. Time Finance

• Offers a choice of asset finance products
• Hire purchase
• Finance lease
• Asset-based lending
• Can also refinance existing assets
• Funds all types of equipment
• Fixed rates and terms
• Ownership available (hire purchase)
• Suitable for a range of sectors
• Enquire online

Website Time Finance Asset Finance
Read the full Time Finance review

33. Ulster Bank

• Offers a choice of asset finance
• Provided in partnership with Lombard
• Hire purchase
• Finance lease
• Contract hire
• Residual value lease
• Marine finance
• Fixed payment and terms
• Tax-efficient option on some assets
• Call them for more information

Website Ulster Bank Asset Finance

34. Ultimate Finance

• Provides a range of asset finance solutions
• Hire purchase
• Lease
• Refinance existing assets
• Fast funding usually in 24 hours
• Borrow from £10,000 to £500,000
• Terms from 12 to 60 months
• Fixed repayments
• Dedicated relationship manager
• Call them for more information

Website Ultimate Finance Asset Finance
Read the full Ultimate Finance review

35. United Trust Bank

• Offers a choice of asset finance solutions
• Provides their products through brokers only
• Hire purchase
• Finance lease
• Refinance existing assets
• Suitable for a range of vehicles, equipment and machinery
• Can tailor products to your needs
• Option to own the asset at the end (hire purchase)
• Option to extend the rental period (lease)
• Search for a broker to apply for this product

Website United Trust Bank Asset Finance
Read the full United Trust Bank review

36. Wesleyan Bank

• Offers asset finance products for SMEs
• Provides a range of specialist products for specific sectors
• They are a broker and a lender
• Suitable for equipment and IT
• Borrow over £5,000
• Terms of 1 to 5 years
• No security required
• No upfront costs
• Fixed monthly payments
• Call them to discuss your needs

Website Wesleyan Bank Asset Finance
Read the full Wesleyan Bank review

37. WestWon

• Offers asset finance solutions
• Leasing products
• Funds a wide range of assets
• Terms from 3 months to 5 years
• Borrowing from £1,000 to £1 million
• Suitable for start-ups upwards
• Has an online lease calculator
• Provides a product that is suitable for businesses to offer to customers
• Call them for more information

Website WestWon Asset Finance
Read the full WestWon review

38. White Oak

• Provides a range of asset finance solutions
• Can fund a variety of new or used assets
• Suitable for equipment, vehicles and renewable energy investment
• Can be used to refinance existing assets
• Finance lease
• Hire purchase
• Borrow from £25,000 to £2 million
• Terms of 12 to 60 months
• Businesses must have been trading for 3 or more years
• Apply online or request a callback

Website White Oak Asset Finance
Read the full White Oak review

How does asset finance work?

Asset finance allows businesses to benefit from an asset without the upfront cost of purchasing the asset. An agreed term is arranged for the business to have the asset in return for a fixed monthly payment. What happens to the asset at the end of the term depends on the type of asset finance product used.

Hire purchase, also sometimes called lease purchase, allows the business to hire the asset for the term of the agreement and at the end of the term they can purchase the ownership of the asset.

A finance lease, also sometimes called a capital lease, allows businesses to rent the asset for a fixed amount over an agreed period which may cover the cost of the asset. At the end of the term, the asset will be sold, and some providers may share a percentage of the sale value with the business renting it. The business may also benefit from being able to offset the rental payments against the profits depending on the lease type and the asset.

Equipment leasing is similar to a finance lease as it offers a rental period for an asset but at the end of the rental period, there is the option to extend the lease, choose to upgrade, purchase the asset or return the asset to the provider. Equipment leasing can be offset against profit to reduce tax.

Operating leasing is similar to equipment leasing but tends to cater for specialist equipment or machinery which tends to be for short to medium periods.

Residual value lease is similar to the other lease options but it takes into account the depreciation of the asset and what its residual value will be. It protects you from the risk of the asset losing value and it can reduce your monthly payments.

Contract hire, also called vehicle asset finance, specialises in vehicle financing only. The business hires a vehicle over an agreed lease period with maintenance and servicing included. At the end of the leasing period, the vehicle is returned to the provider.

Refinancing of assets can be done in two ways by using the asset as security in a loan or through asset-based lending. Asset-based lending is where the asset is sold to the finance provider for an agreed amount and then they lease the asset to repay the loan.

Business Asset Finance FAQ