FINANCE OPTIONS

^Equipment Finance for Manufacturing and Engineering Firms

Q: How much can I borrow through equipment finance?

Manufacturing and engineering firms can typically borrow between a31,000 and a32,000,000, depending on creditworthiness, financial health, and the scale of operations. Equipment finance provides flexible funding options tailored to company needs.

Q: How quickly can I get a decision on equipment finance?

Decisions on equipment finance applications usually take between 1 to 4 weeks, depending on application completeness and the lender's internal processes. Thorough preparation can often speed up the approval time.

Q: What rates are available for equipment finance?

Interest rates for equipment finance in the UK typically range from 2% to 9% APR. Rates are influenced by the company's credit score, the amount financed, and the type of equipment involved.

Q: What eligibility requirements must be met for equipment finance?

Eligibility generally requires UK SMEs to have a minimum two-year trading history, proven revenue, and a stable credit profile. The exact requirements may vary by lender and financing type.

Equipment finance is a strategic financing solution tailored for manufacturing and engineering firms in the UK. It enables the acquisition, leasing, or purchase of essential machinery without heavy upfront costs, thus preserving crucial cash flow. This solution allows businesses to gain access to necessary tools while maintaining financial flexibility. Discover more about asset finance options on our dedicated pages.

Secure up to £500,000 in Asset Financing with Funding Agent.

Quick and easy application process
Loan disbursed within 24 hours
No additional charges for early repayment

Apply Now

We Like To Keep Things Simple

Match with

150+

Lenders

Loans from

£1000
to
£500K

zero hidden fees

What are the ^benefits of Equipment Finance for Manufacturing and Engineering Firms?

The primary benefits of equipment finance include maintaining financial liquidity, accessing the latest technology, and enjoying flexible repayment terms. Moreover, firms can leverage potential tax benefits. With decision times typically ranging from 1 to 4 weeks, firms can swiftly secure their needed equipment. Learn more about our financing options.

Improved cash flow

Access to modern equipment

Tax advantages

Get Funding For your business

Generate offers

What are the different types of Equipment Finance for Manufacturing and Engineering Firms?

Finance Lease

A finance lease suits UK SMEs eager to lease equipment like CNC machines with amounts from a35,000 to a32,000,000 over 24 to 84 months. Explore our flexible leasing solutions by visiting Asset Finance.

Finance Lease

Through a finance lease, businesses can procure high-value machinery such as production line equipment, with interest rates between 3% and 7% APR. The process involves submitting detailed financial records for credit evaluation, followed by asset procurement. Decisions are typically made within 2 to 4 weeks. Discover how an engineering company acquired high-precision tooling machines by visiting our dedicated section.

Hire Purchase

Hire Purchase is ideal for firms aiming for asset ownership. With amounts ranging from a310,000 to a3500,000, terms last 12 to 60 months. Check our asset financing guidelines.

Hire Purchase

This option allows businesses to select and purchase equipment, which the lender buys and rents back until ownership is transferred after the final payment. Interest rates range from 4% to 9% APR, with decision times of 1 to 3 weeks. Witness how a food processing business acquired advanced packaging machines by visiting our resource page.

Operating Lease

Operating leases are perfect for short-term equipment use without ownership. Amounts range from a31,000 to a3250,000, with terms of 12 to 48 months. Discover more on our asset leasing section.

Operating Lease

This leasing type is beneficial for temporary projects, allowing firms to lease and return equipment. With interest rates between 2% and 6% APR, it is a favoured option for firms in transitional phases. A construction firm leasing for a short-term project can explore this further in our comprehensive guide.

What is Equipment Finance for Manufacturing and Engineering Firms?

Application Process Overview

The application process for equipment finance involves understanding financial needs, selecting suitable machinery, and preparing financial statements for lender assessment. Decisions often happen quickly, within 1 to 4 weeks, post-approval. More can be discovered through our application guide.

Regulatory and Compliance Essentials

UK equipment finance adheres to the Financial Conduct Authority regulations, including the Consumer Credit Act, ensuring fair practice. Compliance involves transparent communication and responsible lending. To learn more, visit our regulatory information section.

Evaluating Borrowing Capacity and Rates

Your borrowing capacity in equipment finance depends on factors like company creditworthiness and operational scale, with amounts from a31,000 to a32,000,000. Interest rates typically vary from 2% to 9% APR. For tailored advice, see our borrowing guide.