Top 10 Lenders for £1 Million Machinery Finance in the UK (2026)
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Top £1 Million Machinery Finance Lenders Compared
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established firms needing large-scale machinery finance with competitive monthly rates. | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Businesses seeking fast decisions on machinery up to £2 million. | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Longer-established businesses funding high-value plant and machinery. | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Firms wanting annual-rate clarity on multi-million-pound machinery deals. | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Included for comparison — wide machinery range from smaller to larger assets. | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Bank-loyal businesses funding machinery as part of a wider banking relationship. | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-to-large machinery purchases where broker-led sourcing adds value. | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Included for comparison — flexible machinery funding from modest to large scale. | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Growing manufacturers and industrial firms upgrading production machinery. | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Well-established firms with strong turnover funding major machinery acquisitions. | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets a business acquire machinery by spreading the cost over time, with the equipment itself serving as security for the funding. It is a practical route for established businesses that need substantial production or processing equipment without draining working capital in a single transaction. For companies investing in high-value machinery, this structure aligns repayments with the income the equipment generates.
Comparing asset finance lenders at the seven-figure level means looking past headline rates. The split between hire purchase and finance lease changes ownership and tax treatment, so the structure matters as much as the cost. Lender appetite for your specific machinery type, repayment flexibility, and whether the funder offers seasonal payment profiles all influence total borrowing cost. Funding speed and the lender's experience in your sector also vary considerably between providers.
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: Lending up to £5 million through asset finance, Reward Funding suits established businesses acquiring high-value machinery. Monthly rates start from 0.99%, and the revolving credit structure lets you draw against multiple assets as needs shift. Funding decisions typically complete within 24 hours. The trade-off: asset valuations and legal costs apply.
Best next step: Compare machinery asset finance rates
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving credit for multiple purchases
- Monthly rates from 0.99%
- Decisions within 24 hours
Need to know
- Asset valuations required for large deals
- Legal costs may apply at drawdown
- Secured against the machinery funded
Expert take
Reward Funding operates as a flexible asset-based lender for mid-to-large facilities. A £1 million machinery purchase plays to its strengths: competitive monthly rates and a revolving structure that supports staged equipment rollouts.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Annual rates between 11% and 16% make Liberty Leasing a straightforward cost comparator for seven-figure machinery finance. It funds equipment purchases and refinancing from £10,000 up to £2 million, with decisions typically returned within 24 hours. The lender ties funding directly to the asset, preserving working capital. Expect deposit and valuation requirements on larger facilities.
Best next step: Request a machinery finance quote
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual pricing for easy comparison
- Preserves cash flow for other needs
- Funding decisions within 24 hours
Need to know
- Deposits likely on seven-figure deals
- Asset eligibility checks apply
- Secured against the funded machinery
Expert take
Liberty Leasing is a direct asset finance provider with a transparent annual-rate model. For a £1 million machinery deal, the annual pricing structure simplifies long-term cost forecasting and the speed of decision keeps capital expenditure plans on track.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard is one of the UK's most established asset finance names, funding machinery acquisitions up to £5 million. Monthly rates range from 4% to 11.5%, and credit decisions typically arrive within 24 hours. The lender's long track record in equipment finance means underwriting teams understand complex manufacturing and engineering assets. Deposits and valuations remain part of the process.
Best next step: Explore Lombard machinery finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Decades of asset finance experience
- Funds machinery up to £5 million
- Fast credit decisions on large deals
Need to know
- Monthly rate structure applies
- Asset valuations required
- Deposit may be needed
Expert take
Lombard brings institutional-grade asset finance with the underwriting confidence to handle complex machinery deals. For a £1 million purchase, its familiarity with manufacturing and engineering assets gives established borrowers a smoother path to approval.
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 finance and revolving credit, giving established businesses multiple ways to structure capital expenditure at seven figures. Annual rates run from 5.5% to 13.5% across facilities reaching £5 million. The flexible drawdown structure suits firms that want to match funding to seasonal or project-driven equipment needs. Suitability depends on invoice quality and debtor concentration.
Best next step: Check Time Finance blended options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Multiple funding lines available
- Annual rates from 5.5%
- Flexible drawdown for seasonal needs
Need to know
- Invoice quality affects facility terms
- Limits can be reviewed or withdrawn
- Costs may rise with usage
Expert take
Time Finance runs a multi-product model that combines asset and invoice finance under one roof. A £1 million machinery investment benefits from the blended approach, especially if your business also carries strong receivables that support the overall facility.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Funding from as little as £1,000 makes Admiral leasing accessible, but it also handles seven-figure equipment deals when the asset profile fits. Annual rates between 5.5% and 13.5% apply, and decisions can come back in as little as four hours. The lender funds equipment, vehicles and machinery through leasing arrangements. Strong trading history and affordability evidence may be required at higher amounts.
Best next step: Get a machinery leasing quote
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Decisions in as little as 4 hours
- Annual rates from 5.5%
- Leasing preserves working capital
Need to know
- Strong trading history expected
- Personal guarantee may be required
- Asset eligibility checks apply
Expert take
Admiral leasing works as a broad-spectrum equipment funder that can stretch from micro-ticket to seven-figure deals. For £1 million machinery finance, the four-hour decision window keeps procurement moving and the annual-rate structure aids cost comparison.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays brings bank-grade funding capacity to machinery finance, with facilities running from £1,000 to £25 million. Annual rates sit between 8.5% and 14.9%, and decisions typically land within 24 hours. The bank's asset finance arm covers equipment, vehicles and machinery across most sectors. Bank underwriting tends to be more thorough than alternative lenders, so strong financials and trading history matter.
Best next step: Speak to Barclays asset finance
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Lending capacity up to £25 million
- Broad sector coverage
- Established brand and processes
Need to know
- Bank underwriting can be thorough
- Strong trading history expected
- Personal guarantee may be required
Expert take
Barclays operates an asset finance division with the balance-sheet strength to back large machinery purchases. A £1 million deal benefits from institutional pricing and a lending appetite that extends well beyond seven figures.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Covering equipment, vehicles, premium finance and acquisitions, Acorn Business Finance suits established firms that need more than a straightforward machinery loan. Annual rates from 8% to 15% apply across facilities reaching £5 million, with decisions typically returned within 24 hours. The multi-asset capability means you can structure broader funding packages. Asset eligibility and security requirements apply.
Best next step: Compare Acorn asset finance rates
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Annual rates from 8%
- Lends up to £5 million
- Covers multiple asset types
Need to know
- Asset eligibility checks required
- Security requirements apply
- Trading history will be reviewed
Expert take
Acorn Business Finance is a multi-product asset funder comfortable at the seven-figure level. For £1 million machinery finance, the annual-rate structure keeps cost comparisons simple and the lender's experience across asset types supports well-structured deals.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Funding decisions take two to five days at Propel Finance, slightly longer than some competitors but worth factoring into capital expenditure timelines. Annual rates range from 5% to 20% on facilities starting from £500, and the lender funds equipment, vehicles and machinery through asset finance. The tangible asset secures the borrowing, preserving cash flow. Expect valuations and deposit requirements on larger deals.
Best next step: Check Propel machinery terms
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5%
- Asset secures the borrowing
- Funds from £500 upward
Need to know
- Decisions take two to five days
- Valuations needed on large deals
- Deposits may be required
Expert take
Propel Finance is a volume asset funder with pricing that starts competitively at 5% annually. For a £1 million machinery purchase, the straightforward asset-backed structure and flexible entry points work in your favour, with decisions arriving within five days.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Publishing facilities up to £10 million, Aldermore Asset finance handles seven-figure machinery purchases as a matter of course. Annual rates span 5% to 15%, and credit decisions typically arrive within 48 hours. The lender serves SMEs across general business funding, suiting established firms adding production lines or replacing ageing equipment. Asset-backed security keeps the structure straightforward.
Best next step: Explore Aldermore machinery funding
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £10 million
- Annual rates from 5%
- SME-focused underwriting
Need to know
- Decisions take up to 48 hours
- Asset-backed security required
- General business funding focus
Expert take
Aldermore Asset finance brings SME-friendly underwriting to large-ticket asset deals. A £1 million machinery investment suits its lending model, and the 48-hour decision window keeps procurement schedules moving.
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 structures bespoke asset finance for mid-market firms, with facilities spanning £25,000 to £100 million. Monthly rates run from 3.5% to 10%, and decisions typically land within 24 hours. The lender has particular strength in transport, manufacturing and construction, making it a natural fit for heavy machinery and plant equipment purchases. Asset-backed security is standard.
Best next step: Enquire about Close Brothers terms
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Bespoke facilities for mid-market
- Rates from 3.5% monthly
- Deep manufacturing sector knowledge
Need to know
- Bespoke pricing, not standard rates
- Mid-market focus applies
- Asset-backed security standard
Expert take
Close Brothers is a mid-market specialist with industrial sector expertise that maps directly onto heavy machinery finance. A £1 million plant or production equipment deal lands in its sweet spot, backed by underwriters who understand manufacturing assets.
Asset Finance Calculator
How asset finance works for £1 million machinery purchases
Asset finance for seven-figure machinery lets you spread the cost of expensive equipment over time rather than tying up working capital. At the £1 million mark, lenders typically offer two main structures: hire purchase and finance lease.
With hire purchase, you pay a deposit (often 10% to 15% of the asset value) plus regular instalments. You claim the VAT upfront and own the machinery once the final payment clears. Finance lease works differently: the lender buys the equipment and rents it to you for a fixed period. You reclaim VAT on each rental payment, and at the end of the term you can extend the lease, return the kit, or sell it and keep a share of the proceeds.
Lenders on this page publish maximum facilities well above £1 million. Close Brothers goes up to £100 million, Barclays to £25 million, and Aldermore to £10 million, so a seven-figure request sits comfortably within their appetite. Rates vary widely: Reward Funding starts from 0.99% per month while Lombard publishes rates from 4% to 11.5% per month.
Hire purchase vs finance lease for £1 million machinery finance
Choosing between hire purchase and finance lease matters at the £1 million level because the tax and balance sheet treatment of each can affect your business differently.
Hire purchase suits businesses that want outright ownership. You record the machinery as an asset and depreciate it over time. The interest portion of payments is tax-deductible, and you can claim capital allowances on the full cost of the equipment. This works well for machinery with a long useful life such as CNC machines, printing presses, or production line kit.
Finance lease keeps the asset off your balance sheet, which can improve financial ratios. You treat lease payments as an operating expense, fully deductible against profits. At the end of the lease, you have flexibility: return outdated kit, upgrade to newer models, or negotiate a secondary rental period. This suits machinery that depreciates quickly or needs regular updating.
Most lenders on this list offer both structures for seven-figure deals. Maximum loan-to-value ratios differ: Reward Funding caps at 85% LTV, Close Brothers at 90%, while Aldermore and Propel Finance both publish 100% LTV on asset finance facilities.
What lenders expect for £1 million machinery finance eligibility
Lenders treat seven-figure machinery applications differently from smaller deals. They look more closely at your trading history, turnover, and the asset itself.
Minimum trading history varies. Aldermore considers businesses with only six months behind them, while Lombard and Close Brothers both want at least one year of trading. Turnover expectations also differ. Close Brothers asks for a minimum of £500,000 in annual revenue, while Lombard sets the threshold at £25,000 and Aldermore publishes no minimum turnover requirement.
A personal guarantee is common at this level. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all require one. No lender on this page requires you to own a home.
The machinery itself matters too. Lenders prefer standard, easily valued equipment from established manufacturers. Specialist or bespoke kit may require a larger deposit. Loan-to-value ratios give you an idea of what to expect: Aldermore and Propel Finance both offer up to 100% LTV, meaning you may not need a deposit at all if the asset covers its own value.
How to build a strong application for £1 million machinery finance
A seven-figure machinery finance application needs a strong business case, not just basic paperwork.
Start with the asset. Provide the make, model, age, and supplier quote. Lenders want an independent valuation for specialist kit. Explain how the machinery fits your operations: will it replace older equipment, increase capacity, or open new revenue? Be specific about the expected return.
Your financials carry more weight at this level. Have two years of accounts plus current management accounts ready. Show consistent profitability and cash flow that comfortably covers the proposed repayments. Close Brothers expects at least £500,000 in annual turnover for its larger facilities, and most lenders run affordability checks against your existing borrowing.
A broker who knows the large-ticket machinery market can match you with lenders whose appetite fits your profile, rather than you approaching lenders one by one. At Funding Agent, we understand which lenders on this page are actively writing £1 million machinery deals and can route your enquiry to the right place.
