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A secured vehicle term loan typically supports UK limited companies or sole traders with operating history in haulage or transport. You’ll need to show affordability using trading performance and cash flow, and you may provide security over vehicles or asset(s). Lenders often prefer clear routes or contracts and a plan for how the assets generate revenue, with credit history that is clean or manageable. Depending on structure and loan size, director personal guarantees may also be requested.

A partially secured term loan is designed for SMEs that may offer partial security through a charge over business assets rather than full asset-by-asset funding. For a £600k request, lenders may carry out enhanced due diligence and expect credible repayment capacity supported by management accounts and bank statements. It can suit a split between vehicles and working capital, including expenses like fuel, driver wages, or maintenance. Contract pipeline evidence and a cash-flow forecast for instalments are commonly important.

An unsecured or guaranteed term loan may be available to haulage SMEs with strong affordability and trading history but limited or no suitable security. At the £600k level, proposals are less common in mainstream unsecured form and may require director personal guarantees, and sometimes additional guarantees. Lenders typically conduct enhanced credit assessment and will focus on retained earnings, strong cash conversion, and stress-tested repayment ability. Terms are often shorter than secured options because of higher lender risk.