Top 10 £1 Million Asset Finance Lenders for UK Businesses 2026
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Top 10 Lenders for £1 Million Asset Finance Compared
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established businesses scaling with heavy machinery or fleet assets | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Mid-to-large firms funding construction or transport equipment | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Well-established firms seeking seven-figure asset funding packages | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | One Stop Business Finance | Growing businesses needing flexible high-value equipment finance | £100,000 to £3,000,000 | interest 1.6% to 3% monthly |
| 5 | Fleximize | Included for comparison; smaller asset purchases up to £500k | £10,000 to £500,000 | interest 0.9% to 3.6% monthly |
| 6 | Metro Bank | Large corporates requiring bank-backed asset finance at scale | £2,000 to £25,000,000 | interest 9.6% to 9.6% annually |
| 7 | NatWest Bank | High-turnover businesses seeking bank-direct asset finance deals | £500 to £10,000,000 | interest 4.5% to 10.5% annually |
| 8 | Barclays | Blue-chip and mid-market firms funding significant asset acquisitions | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 9 | Novuna | Established businesses exploring non-bank asset finance options | £10,000 to £5,000,000 | interest 4.5% to 12.5% monthly |
| 10 | Virgin Money | Growing SMEs and mid-market firms funding major asset investments | £30,000 to £10,000,000 | interest 4.5% to 10.5% annually |
Asset finance lets businesses spread the cost of expensive equipment, vehicles, or machinery over time rather than paying upfront. The lender purchases the asset and you repay in fixed instalments, with the asset itself acting as security. For established UK businesses, it is a practical way to preserve working capital while acquiring the tools needed to grow. At the million-pound level, it typically supports heavy plant, commercial fleets, or production-line machinery.
Comparison for high-value asset finance goes well beyond headline rates. The total cost across the agreement, including arrangement fees and balloon payment options, matters as much as the interest figure. Lender experience with your specific asset class can affect both approval speed and the terms offered. Some funders specialise in construction plant, others in manufacturing equipment or commercial vehicles. Checking whether a lender can accommodate the full million-pound facility under a single agreement is also worth confirming early.
Important note:
Funding Agent
Published loan rangeFrom £10,000 to up to £1,000,000
Rate typeInterest from 6.8% annually
Why it is included:It is included because many business owners need to compare several finance routes before choosing where to apply.
Funding Agent can help businesses compare suitable options across a lender panel, especially when eligibility depends on turnover, sector, trading history, credit strength and available documents.
Best use case: When the borrower wants to avoid applying to one lender at a time.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Why it stands out
- Useful when a business wants to compare lender fit rather than guess which lender to apply to first.
- Can help position the application around the funding purpose, trading profile and available documents.
- Works well as a conversion route for readers who are unsure whether a direct lender will approve a larger unsecured facility.
Need to know
- Funding Agent is a broker, not a lender.
- The lender, not Funding Agent, sets the final rate, term, fees and approval decision.
- The best match may be unsecured, secured, revolving credit, invoice finance or another product depending on the case.
Expert take
Funding Agent is a useful honourable mention for business owners who want to compare lender options before submitting a full application. A larger unsecured loan is not always approved by the first lender a business finds, so understanding lender fit early can reduce wasted time and avoid unnecessary declines.
Reward Funding
Published loan range£100,000 to £5,000,000
Rate typeinterest 0.99% to 3% monthly
Overview: Monthly interest from 0.99% keeps borrowing costs predictable on high-value asset purchases. Reward Funding lends from £100,000 to £5,000,000, structuring facilities against equipment, vehicles or machinery. The revolving credit structure lets you draw funds as needed rather than taking the full facility upfront. Be prepared for legal and valuation costs on secured facilities.
Best next step: Compare asset finance rates and terms for your purchase.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Low monthly rates from 0.99%
- Revolving credit for staged asset purchases
- Lends up to £5,000,000
Need to know
- Legal and valuation costs may apply
- Security over assets is required
- Deposits may be needed on larger deals
Expert take
A specialist asset lender with appetite for facilities well into seven figures. For £1 million asset finance, Reward's low starting rate and flexible drawdown give established businesses meaningful cost control.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Decisions within 24 hours make Liberty Leasing a practical choice when asset acquisitions cannot wait. The lender funds equipment, vehicles and machinery purchases from £10,000 to £2,000,000, with annual interest from 11%. Asset-backed funding means cash reserves stay intact for other business needs. Deposits or asset valuations may be required before drawdown.
Best next step: Get a quick decision on your equipment or vehicle funding.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Funding decisions within 24 hours
- Preserves working capital for other needs
- Covers equipment, vehicles and machinery
Need to know
- Deposits may be required
- Asset valuations often needed
- Annual rates start from 11%
Expert take
A direct asset finance provider that moves at pace on equipment and vehicle deals. For £1 million purchases, the quick-decision model suits businesses that have already identified the asset and need funding confirmed rapidly.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard can fund asset purchases up to £5,000,000, making it a natural fit for businesses acquiring heavy plant, manufacturing lines or commercial vehicle fleets at the seven-figure level. Funding links directly to the asset, preserving working capital. Monthly interest runs from 4% to 11.5%. Expect asset eligibility checks and potential deposit requirements.
Best next step: Explore high-value asset funding with a dedicated specialist.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Lends up to £5,000,000 for assets
- Funding tied to asset, preserving cash
- Decades of asset finance experience
Need to know
- Monthly rates from 4% to 11.5%
- Asset eligibility checks are standard
- Deposit may be required
Expert take
A long-established asset finance house with deep experience in high-value equipment and vehicle funding. For £1 million transactions, Lombard's capacity up to £5 million and asset-specialist underwriting work in the borrower's favour.
Source:https://www.lombard.co.uk/
One Stop Business Finance
Published loan range£100,000 to £3,000,000
Rate typeinterest 1.6% to 3% monthly
Overview: Structured as a revolving facility, One Stop Business Finance lets established businesses draw and repay against a pre-agreed limit, suiting asset acquisition programmes that roll out in stages. Lending ranges from £100,000 to £3,000,000 with monthly interest from 1.6%. Security and personal guarantees are typically required for facilities at this level.
Best next step: Structure asset funding to match your acquisition timeline.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving facility for phased spending
- Lends from £100,000 to £3,000,000
- Monthly rates from 1.6%
Need to know
- Personal guarantees typically required
- Security and legal costs apply
- Strong trading history expected
Expert take
A secured lender that pairs revolving facilities with term loans for larger transactions. For £1 million asset programmes, the revolving structure lets businesses phase expenditure rather than drawing down in a single lump.
Source:https://www.osbf.co.uk/
Fleximize
Published loan range£10,000 to £500,000
Rate typeinterest 0.9% to 3.6% monthly
Overview: For established SMEs funding equipment or machinery purchases, Fleximize brings secured lending with monthly interest from 0.9%. Businesses that can offer property or tangible security tend to get the best terms. Loans run from £10,000 to £500,000. Funding decisions typically land within 24 hours.
Best next step: Check secured asset funding rates for your business.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Monthly rates from just 0.9%
- Secured model rewards asset-rich businesses
- Funding decisions within 24 hours
Need to know
- Loans capped at £500,000
- Property or tangible security needed
- Affordability evidence is required
Expert take
A secured lender that rewards businesses with tangible security and strong trading histories with competitive monthly rates. For asset purchases where security is available, Fleximize's pricing from 0.9% monthly is hard to match.
Source:https://fleximize.com/
Metro Bank
Published loan range£2,000 to £25,000,000
Rate typeinterest 9.6% to 9.6% annually
Overview: Metro Bank combines high-street credibility with an asset finance arm that can fund purchases from £2,000 to £25,000,000. Annual interest from 9.6% applies. Bank underwriting tends to be thorough, so expect detailed financial scrutiny and potentially longer turnaround times than alternative lenders.
Best next step: Apply for bank-backed asset finance for major purchases.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- High-street bank credibility
- Lends up to £25,000,000
- Broad asset class coverage
Need to know
- Annual rate from 9.6%
- Bank underwriting can be slow
- Detailed financial scrutiny expected
Expert take
A high-street bank with an asset finance division that handles facilities of all sizes. For £1 million asset finance, Metro's brand strength and lending capacity are clear advantages for established businesses.
Source:https://www.metrobankonline.co.uk/business/borrowing/
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NatWest Bank
Published loan range£500 to £10,000,000
Rate typeinterest 4.5% to 10.5% annually
Overview: NatWest's asset finance sits within a full-service banking relationship, suiting businesses that want lending alongside day-to-day banking. Funding from £500 to £10,000,000 covers everything from single assets to large-scale equipment programmes. Annual interest runs from 4.5% to 10.5%. Bank processes mean underwriting can be slower than specialist lenders.
Best next step: Secure competitive bank rates for your asset purchase.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Competitive rates from 4.5% annually
- Full-service banking relationship
- Lends up to £10,000,000
Need to know
- Slower than specialist lenders
- Strong trading history required
- Affordability checks are thorough
Expert take
One of the UK's largest business banks, with asset finance deeply integrated into its commercial offering. For £1 million purchases, NatWest's competitive annual rates and relationship-based approach reward established, well-documented businesses.
Source:https://www.natwest.com/business/loans-and-finance.html
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays funds asset purchases from £1,000 to £25,000,000, covering everything from single-vehicle acquisitions to full production-line installations. Annual interest runs from 8.5% to 14.9%. The asset itself serves as security, though the bank will still scrutinise business financials and trading history before approving a facility.
Best next step: Access bank asset finance for equipment and machinery.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Lends from £1,000 to £25,000,000
- Covers most asset classes
- Dedicated asset finance team
Need to know
- Annual rates from 8.5% to 14.9%
- Trading history will be reviewed
- Bank underwriting applies
Expert take
A major UK bank with a dedicated asset finance team and lending appetite that spans small-ticket to multimillion-pound deals. For £1 million asset finance, Barclays' range and sector coverage give well-established businesses a credible bank option.
Novuna
Published loan range£10,000 to £5,000,000
Rate typeinterest 4.5% to 12.5% monthly
Overview: Novuna processes asset finance applications quickly, with decisions typically within 24 hours. The lender funds equipment, vehicles and machinery from £10,000 to £5,000,000, with monthly interest from 4.5% to 12.5%. Established businesses with strong trading records will find the underwriting straightforward. Security over the financed asset is standard.
Best next step: Get fast asset finance for vehicles, plant or machinery.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Decisions within 24 hours
- Lends up to £5,000,000
- Strong manufacturer relationships
Need to know
- Monthly rates 4.5% to 12.5%
- Security over asset is standard
- Established businesses favoured
Expert take
A substantial asset finance provider formerly known as Hitachi Capital, with strong manufacturer and dealer relationships. For £1 million asset acquisitions, Novuna's sector expertise and quick turnaround help businesses secure competitive terms.
Virgin Money
Published loan range£30,000 to £10,000,000
Rate typeinterest 4.5% to 10.5% annually
Overview: Virgin Money's asset finance forms part of a broader business banking relationship, useful for companies that value having lending and deposits under one roof. Funding from £30,000 to £10,000,000 covers most asset classes, with annual interest from 4.5% to 10.5%. Expect standard bank underwriting with affordability checks and trading history review.
Best next step: Explore bank asset finance with relationship banking benefits.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 4.5% annually
- Integrated business banking
- Lends up to £10,000,000
Need to know
- Standard bank underwriting applies
- Trading history review required
- Affordability checks are thorough
Expert take
A full-service business bank with asset finance covering most equipment and vehicle classes. For £1 million funding, competitive annual rates and integrated relationship banking suit businesses wanting lending alongside everyday banking.
Source:https://uk.virginmoney.com/business/business-borrowing/
Asset Finance Calculator
How asset finance works at the £1 million level
At £1 million, asset finance follows the same core structure as smaller facilities but lenders scrutinise both the asset and your business more closely. The asset itself serves as security, which means you typically do not need to offer property or other collateral beyond the equipment you are buying.
Most high-value asset finance is structured as hire purchase or a finance lease. Under hire purchase, you own the asset once the final payment clears. With a finance lease, the lender retains ownership and you pay for use of the asset over a fixed term. Both options let you spread the cost while the asset generates income for your business.
Lenders will usually fund up to a set percentage of the asset value. Reward Funding confirms a maximum loan-to-value of 85%, while One Stop Business Finance caps it at 75%. You may need to cover the remaining balance from your own funds. VAT treatment depends on the structure you choose, so speak with your accountant before committing.
What assets you can finance with a £1 million facility
A £1 million facility opens up serious purchasing power. The most common assets financed at this level include heavy plant machinery, commercial vehicle fleets, manufacturing production lines, CNC equipment, agricultural machinery, and construction plant such as excavators and bulldozers.
Most lenders in this list focus on hard assets that hold measurable resale value over time. Lombard is a well-known funder of commercial vehicles and industrial equipment with facilities up to £5 million. Metro Bank and Barclays both offer asset finance up to £25 million, covering everything from specialist printing presses to large-scale engineering kit.
Soft assets such as IT hardware and office fit-outs can sometimes be included, but lenders prefer machinery and vehicles with clearly defined second-hand markets. The stronger the asset's residual value, the more likely you are to secure competitive terms at the £1 million level.
What established businesses need for a £1 million asset finance application
Lenders expect a track record when you are borrowing £1 million. NatWest requires a minimum turnover of £300,000, while Novuna asks for at least £50,000 and a full year of trading. Lombard also sets a minimum trading history of one year.
Your application will typically need up-to-date financial statements, management accounts, bank statements, and a detailed asset valuation or supplier quote. Lenders will assess affordability by reviewing your existing debt commitments and cash flow projections alongside the proposed repayments.
Almost every lender on this list requires a personal guarantee from directors. Reward Funding, Liberty Leasing, One Stop Business Finance, NatWest, Metro Bank, and Virgin Money all confirm this in their published criteria. A personal guarantee means you are personally liable if the business cannot meet repayments, so factor this risk into your decision.
Comparing interest rates on £1 million asset finance
Interest rates for asset finance vary notably between specialist lenders and high street banks. Specialist funders often quote monthly rates while banks typically quote annual figures, so direct comparison requires care.
| Lender | Rate type | Typical rate range |
|---|---|---|
| Reward Funding | Monthly interest | 0.99% to 3% per month |
| NatWest | Annual interest | 4.5% to 10.5% per year |
| Metro Bank | Annual interest | 9.6% per year |
| Barclays | Annual interest | 8.5% to 14.9% per year |
When comparing, always confirm whether the rate is quoted monthly or annually. A 1% monthly rate equates to roughly 12% per year before compounding, so a specialist lender quoting monthly may appear cheaper than a bank quoting annually even when the reverse is true. Ask each lender for an APR comparison to make a like-for-like assessment.
