FINANCE OPTIONS

^Get Your £1m Construction Business Loan Today

Q: What loan size is possible for a £1m construction request?

Construction asset finance facilities are typically available from £100,000 up to £2,000,000. The achievable amount depends on asset value and condition, the asset schedule and number of items, affordability from trading or contract cash flow, term length, and whether additional security is available, particularly for £1m+ refinance deals.

Q: How long does underwriting take for £1m construction asset finance?

Initial views are often assessed within 5 to 15 working days, while full underwriting takes longer on larger requests. For funding timelines, purchase deals are commonly funded in 2 to 8 weeks, while refinances involving security or charge changes are often 3 to 10 weeks, depending on documentation and lender checks.

Q: What interest rates apply to construction asset finance around £1m?

Indicative interest rates for construction asset finance loans are often quoted around 6.0% to 13.5% per annum. Pricing is influenced by asset type and residual risk, term length, leverage or loan-to-value, affordability metrics and credit profile, and whether you are financing a purchase or refinancing existing equipment debt.

Q: Which type of asset finance suits a construction £1m need?

Most lenders consider three main routes. Plant & machinery asset loans suit excavators, compressors and similar equipment for purchases or refinancing. Vehicle & equipment asset loans focus on fleets and construction delivery gear such as vans, tippers, trailers or access equipment. Construction equipment refinance asset loans restructure existing equipment finance, often where security and payoff details are clear.

A £1m construction business loan is often structured as asset finance, where repayments are supported by the value and business use of a specific asset such as plant, machinery, vehicles, or equipment. Construction SMEs use this approach to fund capacity without stripping cash reserves meant for materials and payroll. It can also help reduce downtime when equipment needs replacing, and improve how equipment-related costs match project cash flow. For around £1m, lenders usually focus on clear evidence of the asset, affordability from trading and contract income, and appropriate security and documentation.

Business Loan

Secure up to £1,000,000 in Business Loan with Funding Agent.

Fastest and easiest application process
Dedicated support
Loan disbursed within 24 hours
No additional charges for early repayment

Apply Now

^Benefits of construction asset finance

For £1m construction funding, asset-led lending can align the facility to the equipment or vehicles driving site delivery. Lenders typically assess the asset base alongside affordability, with decision timelines that often stretch longer for larger requests and for refinancing where security must be handled properly.

Preserve working capital

Support new contracts

Shape repayment to assets

SCALE YOUR BUSINESS TO NEW HEIGHTS

Types of £1m construction asset loans

Plant & machinery asset loan

For contractors buying or refinancing qualifying plant, such as excavators, dumpers, loaders, generators, or compressors. Lenders typically expect clear asset documentation and evidence you can meet repayments from trading and contract cash flow.

Plant & machinery asset loan

Plant & machinery asset loan facilities are commonly suitable when the business needs to increase capacity or replace equipment tied to delivery. Typical amounts range from about £150k to £1.5m, with £1m more feasible where the equipment base is strong and affordability is clear. Lending terms are often 36 to 84 months, and indicative interest rates are frequently quoted around 6.0% to 12.0% per annum, depending on leverage, asset risk, and security structure.

Vehicle & equipment asset loan

Designed for fleets and equipment used directly on projects, like vans, tippers, plant trailers, telehandlers, and lifting or access gear. Repayment is assessed against business and contract income.

Vehicle & equipment asset loan

Vehicle & equipment asset loan options can help construction SMEs refresh site transport and specialist equipment, replacing vehicles needed for day-to-day delivery. Typical amounts are about £100k to £1.2m, with £1m usually requiring a robust asset base and repayment support. Terms often run from 24 to 72 months, and indicative rates are commonly in the region of 7.0% to 13.5% per annum. Decisions for multi-asset requests are often 1 to 6 weeks depending on documents and valuation checks.

Construction equipment refinance asset loan

A refinance structure that provides new asset refinance to release capital to repay existing equipment debt or release capital tied up in plant. Security and payoff details are central for £1m requests.

Construction equipment refinance asset loan

Construction equipment refinance asset loan products can be used to improve cash flow, extend terms, or consolidate equipment finance. Typical facilities are approximately £200k to £2m, and £1m is feasible where current debt and asset coverage align with affordability and security requirements. Terms may run 30 to 84 months, while indicative interest is often around 6.5% to 12.5% per annum. Decision times are commonly 3 to 10 weeks because refinance involves additional checks and documentation.

Typical Funding Journeys on Funding Agent

Submit your funding request

Our platform enriches your application using business data

Your request is matched to suitable lenders

Receive offers and proceed with the best option

How to get a £1m construction asset loan

Share loan and asset details

Tell us the approximate amount, what you want to finance and whether it is a purchase or refinance. Provide the asset type and schedule, along with basic business information so we can identify the most relevant asset finance route for your £1m target.

We package your application

We gather the financials and documentation lenders typically require, plus asset documentation such as quotes, supplier details, or refinance payoff information. We then prepare a lender-ready submission aligned to construction asset finance underwriting.

Lenders review and decide

We send your case to suitable lenders for underwriting. If approved, we support you through documentation and the drawdown stage for the planned asset purchase or refinance, including helping you respond promptly to any lender queries.