Tool Finance allows tradespeople and small businesses to purchase or upgrade essential tools through affordable monthly payments. It ensures you have the right equipment when you need it, without large upfront costs.
This type of finance supports productivity and business growth while preserving working capital for day-to-day operations.
Tool Finance is available to UK-based sole traders, limited companies, and partnerships with a trading history of at least 6 months. You’ll typically need to demonstrate a steady income, and in some cases, a personal guarantee may be required.
Loan amounts usually range from £1,000 to £100,000, depending on the size of your business and the tools required. Lenders will assess the value of the tools and your business financials when determining the amount.
Approvals can take as little as 24 hours, with funds often released within 3 to 5 working days. A quick application process ensures you can access the tools you need with minimal delay.
This finance is ideal for acquiring new hand tools, power tools, diagnostic equipment, or even specialist machinery for construction, automotive, or trades sectors. Both new and second-hand tools may be eligible.
Interest rates generally range from 5% to 15% depending on the lender and your business credit profile. Repayment terms usually span from 6 months to 5 years, with fixed monthly instalments and potential arrangement fees.
Complete our quick online form with a few details about your business and what you need funding for. No commitment, no jargon.
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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Most lenders require at least 6 months of trading. However, if your business is newly incorporated but supported by directors with strong financial backgrounds, some lenders may still consider your application.
Yes. Some lenders can consolidate multiple invoices or quotes into a single finance agreement, simplifying repayment and procurement.
Generally, the tools must be business-critical, new or used, and sourced from a reputable UK supplier. Specialist or niche equipment may require further assessment.
Some agreements offer upgrade options during the term or allow refinancing for replacement tools. Lease arrangements may also support this flexibility.
Yes, most agreements allow early settlement. Some lenders may offer a discount on remaining interest; others might charge a small fee. Always check the terms before committing.
"Tool finance supports tradespeople and businesses by spreading the cost of essential tools over time, improving cash flow and enabling immediate access to vital equipment. By financing tools rather than paying upfront, businesses preserve working capital while staying productive and competitive."