Asset finance enables businesses to access essential equipment, vehicles, or machinery without large upfront costs, by spreading payments over time. A related option, asset refinance, unlocks cash tied up in existing assets, improving cash flow by using those assets as security. The lender retains ownership as security, while the borrower usually pays a deposit to reduce risk.
Popular asset finance options include:
Most businesses can qualify for asset finance if they can demonstrate affordability and creditworthiness. It’s commonly used to fund the purchase of vehicles, machinery, or technology - or to unlock value from existing assets.
Asset finance facilities typically range from £10,000 to over £1 million, depending on the type and value of the asset being financed. Whether you're buying new equipment or refinancing current assets, lenders can tailor solutions to match your business needs.
Approval for asset finance can take as little as 24–72 hours once the necessary documents and asset details are provided. After that, funds or equipment can be released quickly, making it a practical choice for time-sensitive investments or upgrades.
Asset finance can be used to acquire vehicles, machinery, IT systems, office furniture, or any other physical equipment your business needs to operate or grow. It can also be used to refinance existing assets to release working capital.
Rates for asset finance vary based on the asset type, business credit profile, and lender — typically ranging from 4% to 15% APR. Repayment terms often run from 1 to 7 years. Options include hire purchase, finance lease, and operating lease, each with different tax and ownership implications.
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A dedicated finance expert will get in touch to understand your needs and tailor options that work for your business.
We’ll match you with trusted lenders from our panel, offering competitive rates and flexible terms suited to your sector.
Review your finance offers with full transparency. We’ll guide you through the details so you can make a confident decision.
Once approved, your funds are released quickly — often within 24–48 hours — so you can get back to growing your business.
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The speed at which you can access funds through asset finance depends on how quickly the lender can approve your application and verify the asset.
In most cases, once the asset has been approved by the lender, sometimes following an in-person inspection to confirm its value and condition, the funds are typically released within 24 to 48 hours.
The approval process itself generally takes up to five working days, as it often involves scheduling the inspection around both your availability and that of the lender.
Once approved, the finance agreement is finalised, allowing your business to quickly access the capital needed to purchase new assets or release funds from existing ones.
This fast turnaround makes asset finance a popular choice for businesses needing rapid access to working capital without disrupting cash flow.
Yes, asset refinance is an effective and commonly used method for debt consolidation. If your business owns valuable assets, such as vehicles, plant machinery, or equipment, you can refinance them to release the equity tied up in those assets.
The funds raised can then be used to repay existing debts, reducing the number of outstanding loans and potentially lowering overall monthly repayments.
By using asset refinancing, businesses can improve cash flow, streamline finances, and benefit from more manageable repayment terms. It’s particularly beneficial for companies looking to restructure debt, improve liquidity, or invest in growth without selling essential assets.
A wide range of business assets can be financed through asset finance, covering both hard and soft assets. Common examples include vehicles, commercial vans, heavy machinery, agricultural equipment, construction plant, IT systems, software, and specialised tools.
Most lenders are flexible when it comes to the type of asset they will finance, as long as it contributes directly to business operations and retains value over time.
This flexibility allows companies in various industries, such as manufacturing, construction, logistics, agriculture, and professional services, to use asset finance to acquire the equipment they need without paying the full cost upfront.
In asset finance, assets are typically categorised as either hard assets or soft assets.
Hard assets are tangible, physical items that have a strong resale or residual value, such as vehicles, plant machinery, engineering tools, and construction equipment. Because of their inherent value, hard assets often attract lower interest rates and higher approval rates from lenders.
Soft assets, on the other hand, refer to items that are essential to business operations but have limited resale value. These include IT hardware, software licences, office furniture, and technology systems. Although they may not hold the same resale potential as hard assets, many lenders still offer soft asset finance to help businesses acquire critical tools for productivity and growth.
Understanding the difference between hard and soft assets helps businesses choose the most suitable asset finance solution based on the type of equipment or resources they need to fund.
Yes, startups and new businesses can often qualify for asset finance, even with limited trading history. Many lenders recognise that assets themselves act as security for the finance agreement, which reduces the risk and makes this form of funding more accessible to younger companies.
Approval will depend on several factors, including the business plan, projected cash flow, credit history, and the type of asset being financed. Some lenders specialise in providing asset finance for startups and small businesses, helping them acquire essential equipment, vehicles, or technology without depleting initial capital reserves.
For new enterprises looking to grow sustainably and manage cash flow effectively, asset finance provides an ideal funding option that balances flexibility with financial control.
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"Asset finance is a cornerstone of SME funding, enabling businesses to spread the cost of vehicles, equipment, and machinery over manageable payments. By using the asset as security, businesses benefit from reduced costs. Asset finance can also unlock working capital by leveraging the value of existing assets."
