Ignition Credit PLC, trading as Ignition, is a Cornwall-based independent finance provider established in 2000. It focuses on asset-based lending, vehicle and equipment finance, and working-capital facilities tailored for small and medium-sized enterprises across the UK. As part of the STAR Asset Finance Group and authorised by the Financial Conduct Authority, Ignition offers a diversified range of funding options. Businesses seeking asset finance or support for business cash flow may find its services fitting, although firms looking for transparent, published rates or larger unsecured loans could consider other lenders. Learn more about asset finance and business loans in the UK market.
Key Features of Ignition Credit PLC
Ignition combines a broad asset finance portfolio with technological efficiency and regional expertise, enabling flexible funding and repayment solutions suited to varied business needs.
- Offers a wide portfolio of asset finance and working-capital products covering many industries and asset types.
- Utilises a fast, tech-enabled credit assessment process allowing same-day decisions on standard deals.
- Access to a multi-funding panel alongside own-book lending to increase approval chances.
- Allows custom repayment schedules, including seasonal, stepped or balloon payments to match cash-flow patterns.
- Supports bundling of insurance, maintenance, and VAT into single payments for simplified budgeting.
Funding Eligibility
You may qualify for Ignition funding if your business has a typical trading history of 12 months or more, with some products considering startups from 6 months or less given additional security. Minimum turnover requirements vary, from £100,000 for unsecured cash-flow loans to £500,000 for invoice finance. Certain sectors such as gambling, adult entertainment, and armaments are excluded. Businesses registered in England, Scotland, Wales, or Northern Ireland are eligible. Check your business loan eligibility and explore financing options.
Loan Options
Ignition offers various loan types tailored primarily for asset finance and working capital needs. Terms, amounts, and rates are often bespoke and not publicly disclosed but cover a broad range of business requirements.
- Hire Purchase (HP): £5,000 to £2 million; terms from 12 months to 7 years; rate quoted case-by-case; fixed repayments with deposit typically 10-20%.
- Finance Lease: £5,000 to £1.5 million; 24 months to 7 years; rentals quoted with implicit rate; up to 100% funding including soft costs.
- Operating Lease / Contract Hire: £10,000 to £750,000; 24 months to 5 years; monthly rentals without disclosed rate; maintenance options available.
- Asset Refinance / Sale & Leaseback: £25,000 to £1.5 million; 12 months to 5 years; rate by case; unlocks capital from owned assets.
- Business & VAT/Tax Loan: £10,000 to £250,000; 3 to 36 months; fixed or flat rate quoted per case; typically unsecured for smaller amounts.
- Invoice Finance: £50,000 to £5 million facility; rolling renewable agreements; service fees 0.5% to 3% plus margin over base rate.
- Vehicle & Fleet Finance: £5,000 to £500,000; 24 months to 5 years; rates fixed by product; supports cars, vans, HGVs, with fleet management options.
- Agricultural & Renewable Energy Asset Finance: £10,000 to £1 million; up to 10 years (longer case-by-case); matching project payback with tailored security.
How to Apply
The application process is streamlined via online platforms or dedicated relationship managers, aiming for rapid decisions and funding. Prepare relevant documents to facilitate credit assessment and approval.
- Submit your application online, by email, or through a dedicated manager using supported paperless e-documents.
- Provide required documents including latest filed accounts or management accounts, bank statements, asset quotations, and director identification.
- Your application will typically be decided within 2 to 72 hours depending on deal complexity, with funding released same day to within 48 hours after agreement.
Funding Agent’s review of Ignition Credit PLC
Ignition positions itself as a versatile lender focusing on asset finance and working capital for UK SMEs. It offers flexible loan structures and a broad funding panel, supporting various sectors except high-risk ones. However, the absence of published representative APRs and a geographical focus may limit transparency and reach. For businesses prioritising asset-backed solutions, Ignition warrants consideration. Check your eligibility, explore loan comparisons, or use our asset finance calculator to assess fit.
