Equipment Finance for UK Businesses

Quick summary

Equipment finance helps UK businesses buy, lease or refinance machinery, vehicles, IT and specialist kit while preserving cash flow. Fast Business Loans doesn’t provide finance directly — we match businesses (limited companies and SMEs; minimum loan values from £10,000) with lenders and brokers who specialise in equipment and asset funding. Complete a short, no-obligation enquiry to get a free eligibility check and tailored lender matches: Get Started – Free Eligibility Check.

Table of contents

• What is equipment finance?
• Types of equipment finance
• Costs, rates & repayments
• Eligibility & required documents
• Why use Fast Business Loans
• Sector-specific use cases
• Step-by-step: how enquiries work
• Managing risk & compliance
• Testimonials & proof points
• FAQs
• Start your enquiry & disclaimer

What is equipment finance?

Equipment finance (often called asset finance) is a way for businesses to fund the purchase, lease or refinance of business assets — from catering kit, vehicles and cranes to IT systems and medical equipment. Rather than paying the full cost up front, you can spread payments over time, preserve working capital, and match finance to the useful life of the asset.

Common arrangements include hire purchase, finance leases, operating leases and asset refinance. Each structure affects ownership, accounting treatment and monthly cashflow differently — and the right option depends on the asset, tax planning and your business goals.

Quick benefit checklist:

• Buy or upgrade equipment without large upfront cash spend
• Preserve working capital and overdraft capacity
• Access newer or specialist kit with flexible term options
• Options available for used or refurbished equipment

Check your options in under 2 minutes — Free Eligibility Check. Your enquiry is not a loan application and won’t affect your credit score.

Types of equipment finance

Hire Purchase

How it works: You pay an initial deposit (if required) then fixed repayments. Ownership transfers to you at the end of the term once all payments are made.

• Pros: Predictable payments; ownership at term end.
• Cons: Asset sits on your balance sheet; may require deposit or security.
• Typical uses: Vehicles, machinery, construction plant.

Finance Lease

How it works: You rent the equipment for an agreed term; the lender retains ownership. At the end you usually have options such as a final balloon payment, renewal or return.

• Pros: Lower initial outlay; flexible end-of-term choices.
• Cons: Long-term cost can be higher; accounting implications differ.

Operating Lease

How it works: Shorter-term leasing where the asset is returned at the end of the agreement. Often used for fast-depreciating technology or temporary requirements.

• Pros: Off-balance-sheet treatment in many cases; regular upgrades possible.
• Cons: No ownership; ongoing rental cost.

Asset Refinance

How it works: Release equity from assets you already own to free up cash. Lenders assess the condition and value of equipment carefully.

• Pros: Improves working capital without new borrowing for new assets.
• Cons: Valuation and loan-to-value limits apply.

Short-term equipment loans & bridging

How it works: Fast short-term funding to cover sudden equipment needs or gaps in project funding. Can be secured against assets or unsecured depending on lender and amount.

Tech & IT financing

How it works: Specific packages for IT, software licensing and cloud infrastructure. Designed to align payments with rapid obsolescence and upgrade cycles.

Ready to compare solutions and see what suits your asset? Get Quote Now — Free Eligibility Check.

Costs, rates & repayments

Costs vary by lender, asset type, term, and business profile. Typical considerations:

• Representative APRs will depend on risk profile — expect a wide range.
• Deposit requirements: some deals require 0–20% depending on asset and provider.
• Balloon payments: optional lump-sum at term end to lower monthly costs.
• Fees: arrangement fees, documentation fees and asset valuation fees.
• Maintenance & insurance: sometimes required by the lender for leased assets.

Why figures vary: lenders price by industry risk, asset resilience and deal size. The quotes you receive from brokers will include a full cost breakdown before you sign — indicative only until formal offers are issued.

Eligibility & required documents

Most lenders and brokers require similar business information. Typical checklist:

• Company name, registration number and address
• Management contact details
• Trading history and turnover figures
• Recent management accounts or cashflow forecasts
• Quotes or invoices for the equipment
• ID and proof of address for directors (where required)
• Details of existing borrowings

Can newly established businesses apply? Yes. Many lenders consider startups but may ask for personal guarantees or a stronger business plan. Fast Business Loans helps match you to partners who understand growth-stage finance.

To share your details and get tailored matches, complete our short enquiry: Free Eligibility Check.

Why use Fast Business Loans?

Fast Business Loans is an introducer — we don’t lend. Our role is to match your business with the most suitable lenders and brokers based on asset type, sector and deal size (from £10,000 upwards). Here’s why businesses use us:

• Speed & simplicity: Short enquiry form and fast matches.
• Whole-of-market access: We connect you with brokers and lenders who specialise in your sector and asset type.
• No obligation & free: You choose whether to proceed after you receive quotes.
• Sector expertise: Matches tailored for construction, hospitality, healthcare, agriculture, logistics and more.

We’re focused on getting you relevant quotes quickly — usually within hours. Start now: Get Started – Free Eligibility Check.

Sector-specific use cases

Want to speak to a sector specialist? Talk to a sector specialist — Free Eligibility Check.

Step-by-step: apply via Fast Business Loans

1. Complete our short online enquiry (under 2 minutes): Start My Enquiry Now.
2. We match your details with suitable lenders and brokers from our panel.
3. Selected partners contact you with quotes and next steps (often within hours).
4. Compare offers, complete lender checks, accept the deal that best suits your business.

Note: submitting an enquiry is not a credit application. Lenders may perform credit checks only if you decide to proceed with an offer.

Managing risk & compliance

• Read all lender terms carefully — interest, fees, insurance and maintenance obligations matter.
• Seek independent tax or accounting advice for accounting and capital allowance questions.
• Protect cashflow: compare total cost and cashflow impact, not only monthly payments.
• Your data is shared only with selected partners to facilitate matching — see our Privacy Policy for details.

Testimonials & proof points

“Fast Business Loans matched us to a specialist broker within hours — we leased new kitchen equipment and kept cash levels healthy.” — Hospitality client

“We refinanced ageing plant and used the proceeds to modernise production lines. Process was quick and straightforward.” — Manufacturing client

Interested to see how we can help your business? Get Quote Now — Free Eligibility Check.

Frequently asked questions

What assets can be financed?

Most business assets are financeable: machinery, vehicles, IT equipment, catering kit, medical equipment and specialist plant. Lender appetite varies by item condition and resale value.

Can I finance used equipment?

Yes. Many lenders finance used kit, subject to age limits and condition assessments.

How fast can funding be arranged?

Timescales depend on complexity — simple asset finance deals can complete in days; specialist or large-value deals may take longer. After enquiry you’ll get expected timelines from matched partners.

Do I need a deposit?

Some deals require a deposit; others offer 0% deposit options depending on lender and asset. Terms will be shown in any quote.

Will enquiries affect my credit score?

No — your enquiry with Fast Business Loans won’t affect your credit score. Lenders may carry out checks only when you proceed to formal application.

Can businesses with adverse credit apply?

Yes. Because we work with a wide panel, some partners specialise in non-standard credit profiles. Submit details to see tailored options.

Start your enquiry — Free Eligibility Check

Get matched with brokers and lenders who understand your sector and asset type. It takes under 2 minutes to complete the enquiry and it’s free and without obligation. Click below to start:

Start Your Enquiry — Free Eligibility Check

For more detail on how equipment funding works and the solutions available, see our full guide to equipment finance.

Fast Business Loans is a commercial introducer. We do not provide loans or regulated financial advice. Eligibility and terms are subject to lender assessment. Enquiries are not loan applications and will not affect your credit score; lenders may run credit checks only if you proceed. Our service is free and without obligation. For tax, accounting or legal questions seek independent professional advice.
– What is equipment finance and how does it work?
Equipment finance (asset finance) lets UK businesses buy, lease or refinance assets and spread repayments over time through options like hire purchase, finance leases, operating leases and asset refinance.

– Does Fast Business Loans lend money directly?
No—Fast Business Loans is an introducer that matches UK companies with specialist brokers and lenders for equipment and asset finance.

– What is the minimum amount I can finance?
Eligibility checks and lender matches start from £10,000 for equipment finance.

– Will submitting an enquiry affect my credit score?
No—the enquiry is not a loan application and won’t affect your credit score; lenders may run credit checks only if you choose to proceed.

– How quickly can funding be arranged?
Simple equipment finance deals can complete in days, while larger or specialist assets may take longer, with timelines confirmed by matched partners.

– Can startups or businesses with adverse credit apply?
Yes—many partners consider startups and non-standard credit profiles, though personal guarantees or stronger business plans may be required.

– What assets can be financed, including used equipment?
Most business assets—machinery, vehicles, IT, catering kit, medical equipment and specialist plant—can be financed, including used items subject to age and condition.

– What documents will lenders typically request?
Expect company and director details, trading history, recent accounts or forecasts, equipment quotes/invoices, and information on existing borrowings.

– What costs, rates and deposits should I expect?
Rates vary by risk, asset and term; some deals require 0–20% deposit, may include fees and optional balloon payments, with full costs shown in quotes before you proceed.

– What’s the difference between hire purchase and leasing?
Hire purchase leads to ownership at the end of the term with fixed repayments, while finance/operating leases provide use of the asset without ownership and offer end-of-term options.