Equipment Finance for UK Businesses: Compare Brokers in Minutes

Summary: Equipment finance helps businesses buy, lease or refinance the assets they need to operate — from catering kit and IT to heavy machinery and vehicles. Fast Business Loans connects UK companies (minimum funding from around £10,000) with vetted brokers and lenders so you can compare options quickly. Completing our short enquiry is not a loan application and won’t affect your credit score — it simply helps us match you with the best providers. Get Started – Free Eligibility Check

What is equipment finance and how does it work?

Equipment finance is a category of asset finance that helps businesses acquire or refinance equipment without paying the full cost up-front. Rather than using capital, you spread the cost over an agreed term while keeping the asset in use.

Common structures

• Hire Purchase (HP) – you pay monthly instalments and usually own the asset at the end of the term.
• Finance Lease – a longer-term arrangement where the lender retains ownership; you typically have an option to purchase or return the asset at term-end.
• Operating Lease – similar to rental; often used where you don’t want ownership and prefer off-balance-sheet treatment.
• Asset Refinance – release cash by borrowing against equipment you already own.

Typical equipment covered

• Manufacturing and production machinery
• Commercial vehicles and fleet
• Catering, hospitality and retail fit-out equipment
• Medical and dental equipment
• IT, telecoms and software licences
• Agricultural machinery and specialist plant

Note: Submitting an enquiry is not a loan application and will not affect your credit score. Free Eligibility Check

Is equipment finance right for your business?

Equipment finance can be the best choice when you want to preserve working capital, manage cash flow more predictably, or upgrade kit without large capital expenditure. It’s popular with SMEs investing in growth or replacing ageing assets.

Key benefits

• Preserve cash and working capital
• Match the cost of the asset to the revenues it generates
• Possible favourable tax treatment depending on structure
• Access to newer technology without large up-front spend

Points to consider

• Hire purchase leads to ownership and may sit on the balance sheet.
• Leases can include maintenance obligations and end-of-term options.
• Rates, term length and deposit vary by lender and asset condition.

If you’d like a quick assessment of suitability, Check Your Eligibility in 2 Minutes.

Equipment finance rates & terms snapshot

*Representative figures only — rates depend on lender assessment, asset and business details.

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How Fast Business Loans matches you with equipment finance partners

We’re a specialist introducer. We don’t lend — we match businesses with lenders and brokers who can provide tailored equipment finance. Our focus is speed and relevance: we connect you to partners who understand your sector and asset.

Our process

1. Complete a short enquiry form (under two minutes).
2. We match your request to our panel of vetted lenders and brokers.
3. A broker/lender contacts you to discuss options and indicative costs.
4. You review offers and proceed directly with the provider you choose.

Start now with a simple enquiry: Get Started – Free Eligibility Check

Eligibility & documentation checklist

Common eligibility factors

• Minimum loan size typically from £10,000
• Trading history and turnover (varies by lender)
• Type, age and value of the asset
• Director/owner credit profile
• Deposit availability or security

Documents to prepare

• Supplier invoice or equipment quote
• Recent business bank statements (usually 3–6 months)
• Management accounts or latest annual accounts
• Proof of identity for directors
• Details of existing finance agreements (if any)

Tip: Having a supplier quote and recent bank statements ready will speed up the process and improve the quality of quotes you receive.

Equipment finance options explained

Hire Purchase

Best when you plan to own the asset at the end of the term. Fixed monthly payments; asset becomes yours after final payment.

Finance Lease

Useful when you want predictable payments but don’t need to own the asset. Often chosen for higher-value or specialised equipment.

Operating Lease

More like renting — good for technology that becomes obsolete quickly or where off-balance-sheet treatment is preferred.

Asset Refinance

Release cash from existing equipment to support working capital or new investment.

Deciding the right structure depends on tax, accounting and business strategy — a specialist broker from our panel can explain the differences. Compare Options with a Specialist Broker

Sector-specific equipment funding use cases

• Manufacturing & Engineering: CNC machines, presses, production lines — lenders assess lifespan and resale value.
• Hospitality & Leisure: Catering kit, refrigeration, fit-outs — seasonal cashflow often factored in.
• Healthcare & Medical: Diagnostic equipment and practice upgrades — specialist lenders available.
• Transport & Logistics: Vans, HGVs and trailers — fleet finance and refinancing options.
• Agriculture: Tractors and farm machinery — lenders familiar with seasonal income patterns.

If your sector is listed above, our panel includes brokers experienced in that area. Free Eligibility Check

Cost comparison – equipment finance vs alternative funding

• Business loans: Good for general capital needs; may be unsecured or secured against property.
• Overdrafts: Short-term working capital; not generally suitable for major asset purchases.
• Invoice finance: Unlocks cash from unpaid invoices; complements asset finance but doesn’t fund equipment directly.
• Leasing vs buying: Leasing preserves cash but can be more expensive over the long term; buying can be cheaper if you keep the asset long-term.

Always compare total cost of ownership including maintenance, tax and end-of-term options. For tailored guidance, Get Quote Now.

Customer experience: what to expect after you enquire

Typical timeline

• Enquiry submitted — same or next working day match and contact
• Initial discussion and document request — often within 24–72 hours
• Formal offers and acceptance — timing depends on the lender and paperwork
• Funding and delivery — can be quick-track for standard equipment

Communication standards

• Clear explanations of costs and fees
• Options to decline offers — no pressure to proceed
• Credit checks only if you choose to apply formally

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Compliance, transparency & why trust Fast Business Loans

Fast Business Loans is an introducer that connects businesses with lenders and brokers. We do not provide regulated financial advice and we do not lend. We operate with transparency: your enquiry helps us match you to relevant partners only. Personal and business data is shared solely with potential providers relevant to your request.

For more on how equipment finance works in practice, see our detailed equipment finance resource: equipment finance.

Equipment Finance FAQs

How much can I borrow?

From around £10,000 to several million depending on lender and asset.

Do I need a deposit?

Some lenders accept low or zero deposits for qualifying businesses; terms vary.

Can new and used equipment be financed?

Yes. New equipment typically attracts better rates, but many lenders will finance good-quality used assets.

How quickly will I hear from a broker?

Introductions are often made the same or next business day; response times depend on the partner.

Will applying affect my credit score?

No — initial enquiries are soft and do not affect credit. Lenders only perform hard checks if you proceed.

What happens at the end of a lease?

Options vary: return the asset, extend the lease, or pay a final amount to purchase outright — details are shown in the agreement.

Ready to upgrade your equipment?

Don’t delay projects because of cash constraints. Fast Business Loans will match you to the lenders and brokers who best fit your sector and asset needs. Our service is free, quick and obligation-free — the first step is a short enquiry that helps us introduce you to the right partners.

Get Started – Free Eligibility Check
 
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Disclosure: Fast Business Loans is an introducer that connects businesses with finance brokers and lenders. We do not provide loans or regulated financial advice. All finance offers are provided directly by third-party brokers or lenders and are subject to their terms, eligibility checks and credit assessments. Completing our enquiry form is not a loan application and does not affect your credit score.

– How does equipment finance work for UK businesses? It lets you acquire or refinance equipment by spreading the cost over time via hire purchase, finance lease, operating lease or asset refinance instead of paying upfront.

– How much can I borrow for equipment finance? Typically from around £10,000 to several million, depending on the asset, your business profile and lender appetite.

– Will submitting an enquiry affect my credit score? No—our quick enquiry is a soft matchmaking step and only triggers credit checks if you proceed with a formal application.

– How fast can I get quotes or funding? You’re usually matched the same or next working day, and with documents ready many lenders issue offers within 24–72 hours.

– What are typical rates, terms and deposits? Representative figures start from roughly 6–8% APR with terms of 1–7 years and deposits ranging from 0–20% depending on lender, asset age and risk.

– Can I finance new or used equipment, or refinance assets I already own? Yes—new and good-quality used kit can be funded, and asset refinance can release cash from equipment you already own.

– Do you support start-ups or businesses with imperfect credit? Many partners can consider start-ups or weaker credit profiles where the asset, deposit and business case stack up.

– What documents will I need to provide? Expect to share a supplier quote, 3–6 months of bank statements, latest accounts or management figures, director ID, and details of any existing finance.

– What’s the difference between hire purchase, finance lease and operating lease? Hire purchase typically ends in ownership with fixed instalments, finance lease keeps lender ownership with end-of-term options, and operating lease is more like rental with return or renewal choices.

– Is Fast Business Loans a lender and what does it cost to use? We’re an introducer that matches you with vetted UK brokers and lenders, and our service is free with no obligation to proceed.