Top 10 Lenders for £1 Million Haulage Finance in 2026
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Top 10 Lenders for £1 Million Haulage Finance — Compared
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Growing haulage fleets seeking competitive monthly repayment terms | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Established transport firms needing up to £2 million vehicle finance | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Haulage operators wanting a lender with deep transport experience | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Mid-sized logistics businesses seeking annual-rate asset finance | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Wider market comparison for smaller and larger haulage fleets | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Haulage firms wanting a high-street bank lending option | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Independent comparison for transport operators seeking flexible terms | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Included for comparison across a broad haulage finance market | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Larger transport businesses needing up to £10 million asset funding | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Large established haulage firms with strong annual turnover | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets a haulage business purchase or lease vehicles and equipment by spreading the cost over time, with the asset itself serving as security for the lender. This structure suits transport operators well because HGVs, trailers, and specialist rigs hold predictable resale value and generate revenue directly, making them natural collateral. For a business looking to expand or refresh a fleet at the seven-figure level, asset finance preserves working capital while putting new vehicles on the road quickly.
Comparing lenders for large-scale haulage finance goes beyond the headline rate. Total borrowing cost depends on whether the rate is fixed or variable, the repayment term, and any arrangement fees. At this scale, lenders assess the make, age, and residual value of the vehicles being funded, which can shift the rate offered. A lender's experience with transport assets matters — some underwriters understand HGV depreciation better than others. Checking whether a lender caps exposure at a certain fleet size or vehicle age is essential before applying.
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: Reward Funding structures asset finance from £100,000 to £5,000,000 with monthly rates between 0.99% and 3%. For haulage operators, that range covers everything from single HGVs to full fleet acquisitions across tractor units, trailers and specialist transport equipment. The lender funds both purchases and refinancing, with underwriting focused on asset quality and security rather than solely on trading history.
Best next step: Check eligibility for Reward Funding
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Flexible drawdown for fleet purchases
- Monthly rates from 0.99%
- Refinancing on existing assets
Need to know
- Asset security required for approval
- Valuation costs may apply
- Limits can be reviewed or adjusted
Expert take
A flexible asset lender comfortable with six-figure haulage facilities. Transport operators with a strong existing fleet and clean asset values will find the underwriting straightforward.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Liberty Leasing funds asset purchases from £10,000 to £2,000,000 with annual rates between 11% and 16%. For haulage businesses, the upper limit comfortably handles mixed fleet orders of tractor units, rigid trucks and specialist trailers. The lender ties funding directly to the asset, which helps preserve working capital while expanding vehicle capacity.
Best next step: Compare Liberty Leasing rates
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Asset-linked funding preserves cash flow
- Handles mixed fleet purchases
- Funding from £10,000 to £2,000,000
Need to know
- Asset eligibility checks required
- Deposit may be necessary
- Annual rates from 11% to 16%
Expert take
A straightforward asset finance provider. For transport firms adding HGVs or trailers to the fleet, the asset-backed model keeps the process simple and the repayments predictable.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard has decades of experience funding commercial vehicle fleets, making it a natural fit for haulage businesses seeking substantial asset finance. It offers facilities up to £5,000,000 with monthly rates from 4% to 11.5%. The lender understands transport asset lifecycles and structures agreements around HGV depreciation schedules and operator replacement cycles.
Best next step: Explore Lombard asset finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Deep experience in transport finance
- Facilities up to £5,000,000
- Structures built around vehicle lifecycles
Need to know
- Asset valuations typically required
- Monthly rate structure applies
- Deposit contribution may be needed
Expert take
A seasoned asset funder with genuine haulage sector knowledge. Transport operators benefit from its understanding of vehicle depreciation. A clean credit file and well-maintained fleet strengthen any application.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Time Finance blends asset finance with invoice funding, giving haulage firms access up to £5,000,000 across both channels. Annual rates range from 5.5% to 13.5%. Transport operators with outstanding customer invoices can unlock working capital from receivables while separately financing HGVs and trailers through the same lending relationship.
Best next step: View Time Finance options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combines asset and invoice finance
- Up to £5,000,000 total facility
- Annual rates from 5.5%
Need to know
- Invoice quality affects eligibility
- Asset security still required
- Limits subject to periodic review
Expert take
Suits haulage firms that need vehicle funding and working capital under one roof. Operators with strong B2B invoicing alongside fleet needs get the most from this dual approach.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Admiral leasing can turn around asset finance decisions in as little as four hours, which matters when a haulage firm needs to secure vehicles quickly for a new contract or urgent fleet replacement. Annual rates run from 5.5% to 13.5%. Lending starts from £1,000 and scales up, covering everything from a single rigid truck to a larger trailer fleet.
Best next step: Check Admiral leasing speed
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Fast four-hour funding decisions
- Annual rates from 5.5%
- Scales from single vehicle to fleet
Need to know
- Trading history likely scrutinised
- Personal guarantee may apply
- Security and valuation costs apply
Expert take
Fast-moving and suited to haulage operators who need vehicles on the road without delay. Strong trading figures and clear asset identification help secure competitive terms here.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays brings bank-grade asset finance to haulage operators, funding from £1,000 to £25,000,000 with annual rates between 8.5% and 14.9%. For transport firms already banking with Barclays, the existing relationship can smooth underwriting. The lender understands fleet depreciation and structures terms around vehicle replacement cycles and seasonal cash flow patterns.
Best next step: Explore Barclays asset finance
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Bank-grade lending up to £25M
- Existing relationship can help
- Understands fleet depreciation cycles
Need to know
- Bank underwriting can be slower
- Strong trading history expected
- Personal guarantee may be required
Expert take
A mainstream bank lender suited to established haulage firms with clean accounts. The relationship factor matters here. Existing business banking customers typically see a smoother path to approval.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: From £15,000 to £5,000,000, Acorn Business Finance covers the full spectrum of haulage asset funding with annual rates between 8% and 15%. Transport operators can use it for outright vehicle purchase or to refinance existing fleet, releasing equity for further expansion. The lender also supports acquisition finance for firms buying another haulage business.
Best next step: View Acorn Business Finance
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Broad £15K to £5M funding range
- Annual rates from 8%
- Refinancing releases fleet equity
Need to know
- Security and valuation costs apply
- Trading history will be assessed
- Personal guarantee may be needed
Expert take
A broad-spectrum asset funder with acquisition finance capability. Haulage operators refinancing an existing fleet alongside new purchases will find the combined approach useful.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Propel Finance starts funding from just £500 and covers annual rates between 5% and 20%, offering haulage operators flexibility whether acquiring a single trailer or building a larger fleet incrementally. Funding typically takes two to five days. The asset-backed model keeps monthly repayments predictable, which suits transport firms managing tight operating margins.
Best next step: Check Propel Finance terms
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding from as little as £500
- Predictable asset-backed repayments
- Annual rates from 5%
Need to know
- Asset eligibility checks required
- Deposit may be necessary
- Up to five days for funding
Expert take
An accessible asset funder with a low entry threshold. Haulage firms needing straightforward vehicle finance without complexity will find the process simple and the repayment structure stable.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore Asset finance offers facilities from £1,000 to £10,000,000 with annual rates between 5% and 15%. Haulage operators building or refreshing a fleet can access funding at the lower end of that rate band with strong credit and solid asset values. Funding typically completes within 48 hours, balancing speed with thorough underwriting.
Best next step: Explore Aldermore asset finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Competitive rates from 5% annually
- Facilities up to £10M available
- Funding completed within 48 hours
Need to know
- Strong credit needed for best rates
- Asset valuation likely required
- Trading history will be reviewed
Expert take
A capable mid-to-large facility funder. Haulage operators with well-maintained fleets and steady accounts should find competitive pricing within reach.
Source:https://www.aldermore.co.uk/business/business-finance/asset-finance/
Close Brothers
Published loan range£25,000 to £100,000,000
Rate typebespoke 3.5% to 10% monthly
Overview: Close Brothers has a dedicated transport finance team and regularly funds mid-market haulage operators. Facilities range from £25,000 to £100,000,000 with bespoke monthly rates from 3.5% to 10%. The lender understands HGV residual values, operator licensing requirements and fleet replacement economics, making it a strong fit for established haulage firms scaling their fleet.
Best next step: Check Close Brothers eligibility
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Dedicated transport finance team
- Bespoke rates from 3.5% monthly
- Facilities up to £100M available
Need to know
- Suits £500K+ turnover firms
- Bespoke underwriting takes time
- Asset quality heavily scrutinised
Expert take
A specialist transport funder for established mid-market hauliers. Operators with strong turnover and a clear fleet strategy will find a lender that genuinely understands the sector.
Asset Finance Calculator
What lenders assess on a £1 million haulage finance application
When you apply for £1 million in haulage asset finance, underwriters look beyond the basic application. Trading history matters. Close Brothers and Lombard both expect at least one year behind you. Turnover thresholds vary widely: Close Brothers asks for £500,000 minimum, while Lombard sets the bar at £25,000, and Aldermore Asset finance has no stated turnover floor.
Personal guarantees are standard at this level. Reward Funding, Liberty Leasing, Time Finance, Aldermore and Close Brothers all require a director's guarantee. Lenders also assess the age and condition of the vehicles you plan to finance. New HGVs with strong residual values tend to attract keener pricing than older or specialist trailers with limited secondary market appeal.
Your existing fleet and contract pipeline also carry weight. A haulage business with steady contracts and a clear plan for the new vehicles will always look stronger than one with speculative growth ambitions.
Deposits and loan-to-value ratios on £1 million haulage finance
For a £1 million haulage facility, the deposit you need depends on the lender's maximum loan-to-value (LTV) ratio. Propel Finance and Aldermore Asset finance both publish up to 100% LTV, meaning you could potentially finance the full asset cost without an upfront deposit. Close Brothers offers up to 90% LTV, leaving a 10% deposit requirement. Reward Funding sits at 85% LTV, which on a £1 million facility would mean finding £150,000 from your own reserves.
Full LTV offers sound attractive, but they often come with tighter rate bands or shorter terms. A lender offering 100% finance on haulage assets will scrutinise the asset type, age, and expected residual value more closely.
If you are buying a mixed fleet of tractor units, trailers, and specialist equipment, expect different LTV caps per asset class. Lenders typically assign lower LTVs to trailers and older vehicles than to late-model Euro 6 tractor units with strong book values.
Repayment terms and rate structures for £1 million haulage finance
Rates on £1 million haulage finance span two pricing models. Several lenders quote monthly: Reward Funding publishes 0.99% to 3% per month, while Lombard and Close Brothers sit in the 3.5% to 11.5% per month band. Others quote annually: Liberty Leasing and Admiral leasing both publish 5.5% to 16% per year, while Barclays shows 8.5% to 14.9% per year.
Term lengths also differ meaningfully. Reward Funding caps at one year, suited to short-term fleet top-ups. Liberty Leasing and Close Brothers extend to five and seven years respectively. Barclays can stretch to 25 years, though that is atypical for haulage assets where seven-year terms are more common.
For a £1 million commitment, even a half-point difference in rate shifts total cost substantially. Comparing annual and monthly quoted rates side by side is essential to avoid misreading the true cost. Always ask for the total charge for credit, not just the headline rate.
Preparing your haulage business for a £1 million finance application
A £1 million application requires sharper preparation than a standard six-figure facility. Most lenders on this list want to see audited or management accounts covering at least the last full trading year. Cash flow forecasts showing how the new vehicles will generate revenue are equally important.
Compile a detailed asset schedule. List every vehicle you intend to finance with make, model, age, expected mileage, and purchase price. Lenders assessing a £1 million haulage facility will check that the asset values align with market data. Overpaying for vehicles weakens the security position.
Have your operator licence details, vehicle replacement policy, and key customer contracts ready. A haulage business that can demonstrate long-term supply agreements with blue-chip clients presents lower risk. If you plan to use hire purchase, clarify your VAT position upfront: VAT-registered businesses can reclaim VAT on HP assets, which affects the net amount you need to finance. A well-organised application signals professionalism and can shorten underwriting turnaround.
