^1m Leasing Finance – Get Your Lease Approved Today

In an operating lease, the asset typically stays with the lessor for the lease term. These deals are commonly suited to SMEs that want predictable rentals and do not require ownership at the end of the agreement. Eligibility often includes having a viable trading history, with many lenders expecting at least 2+ years, though well-established directors may sometimes be considered with less. Typical terms run from 24 to 60 months, and amounts often sit between £10,000 and £300,000 for equipment, with around £1m scale available where the asset and residual assumptions support it.

Finance leases are commonly used where the SME expects to use equipment over a defined term and wants an eventual ownership outcome or a clearer end-of-term option. Lenders typically review company accounts, credit history, and affordability, with the asset’s expected value playing a key role in the pricing. Terms are often 36 to 72 months, which may suit assets with a stable useful life. Decision timing is commonly around 3 to 15 working days depending on asset complexity and how quickly the underwriting information is provided.

This structure is commonly selected by SMEs that want clearer ownership mechanics. You typically agree equipment details and pricing with the supplier, then apply for funding with company information and an asset quote. Once approved, the lender pays the supplier and repayments run until ownership transfers at the end of the contract. Terms are often 12 to 60 months, with longer structures possible for longer-life assets. For simpler single-asset cases, decision times can be as quick as 1 to 12 working days, subject to the checks required by the transaction and documentation.