Top 10 Lenders for £1 Million Plant Finance in 2026
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Top 10 lenders for £1 million plant finance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Large-ticket plant acquisitions up to £5M | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Mid-market plant and machinery purchases | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established businesses funding major plant assets | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Scaling firms acquiring plant assets up to £5M | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Included for comparison; plant and equipment | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Businesses seeking bank-backed plant finance | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Plant and machinery from £15,000 to £5M | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Included for comparison; flexible plant funding | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Plant acquisitions from £1,000 to £10M | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Bespoke high-value plant and machinery finance | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets a business acquire plant and machinery by spreading the cost over time, with the equipment itself securing the funding. For companies investing in high-value assets, it protects cash reserves while putting essential kit to work immediately. At the £1 million level, this type of funding typically supports major capital projects such as production line upgrades, heavy manufacturing plant, or large-scale agricultural machinery.
Comparing plant finance lenders at this scale goes well beyond quoted rates. Asset specialism matters: some funders prefer construction plant, others manufacturing or agricultural equipment. Repayment structure, whether hire purchase or a finance lease, affects both cash flow and tax treatment. Lender appetite for the specific machinery type and its expected lifespan can shift terms considerably. Maximum facility size and sector experience are equally important at the seven-figure level.
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: For businesses eyeing high-value plant, this lender funds facilities from £100,000 to £5 million through asset finance. A revolving credit structure lets you draw, repay, and redraw as needs shift. Decisions typically land within 24 hours. The trade-off: you must offer suitable security and rates are quoted monthly, not annually.
Best next step: Check revolving credit terms before committing.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Funding range reaches £5 million
- Revolving credit adapts to changing needs
- Decisions often within 24 hours
Need to know
- Rates quoted on a monthly basis
- Suitable asset security is required
- Legal and valuation costs may apply
Expert take
A well-capitalised asset finance provider comfortable with seven-figure plant deals. For a £1 million plant purchase, the revolving structure brings genuine cash-flow flexibility if your asset base supports the security requirement.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Rates from 11% annually give cost-certainty on plant finance deals up to £2 million. Funding is linked directly to the equipment you are buying, which helps preserve working capital for other needs. Decisions come within 24 hours. Be aware that deposits or asset valuations may be required before funds are released.
Best next step: Budget for possible deposit and valuation costs.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Fixed annual rates from 11%
- Funds up to £2 million available
- Quick 24-hour decision turnaround
Need to know
- Deposits may be required upfront
- Valuations could delay completion
- Finance tied to specific equipment
Expert take
A straightforward asset finance provider that prices in annual terms, which makes cost comparison simpler. For a £1 million plant purchase, the rate structure brings predictability. Standard asset-lending checks on equipment condition and value still apply.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Finance up to £5 million is structured around the plant and machinery itself, with the asset serving as security. This keeps the borrowing ring-fenced from your wider business and can make approvals more straightforward than unsecured alternatives. Decisions are made within 24 hours. Monthly-rate pricing means you should work out the annual equivalent before comparing costs.
Best next step: Convert monthly rates to annual before comparing.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Funding ceiling reaches £5 million
- Asset-secured structure simplifies approval
- Decisions typically within a day
Need to know
- Rates quoted on monthly basis
- Asset eligibility checks apply
- Equipment must meet lender criteria
Expert take
A long-established name in UK asset finance with deep experience in plant and machinery deals. For a £1 million plant acquisition, their asset-first underwriting approach can smooth the path if the equipment itself is strong collateral.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Businesses carrying unpaid invoices and plant assets can access combined asset and invoice finance under one roof, with facilities up to £5 million. A revolving drawdown structure lets you flex funding between equipment purchases and working capital. Decisions come within 24 hours. Invoice quality and debtor concentration will affect your terms.
Best next step: Ideal if you need both asset and invoice finance.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combines asset and invoice facilities
- Revolving structure adapts to cash flow
- Total facility up to £5 million
Need to know
- Invoice quality affects your rate
- Debtor concentration is scrutinised
- Not a pure plant-only finance option
Expert take
A hybrid funder that bridges asset finance and invoice discounting under a single facility. For a £1 million plant purchase, the appeal lies in bundling equipment funding with working capital, particularly if your business carries significant receivables.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Funding decisions in as little as four hours make this a strong option if you need to move quickly on a plant purchase. Equipment leasing covers both new and refinanced assets, with annual rates from 5.5% to 13.5%. Strong trading history and a personal guarantee may be expected for larger facilities.
Best next step: Fast decisions suit time-sensitive plant purchases.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Decisions as fast as four hours
- Annual rates give cost clarity
- Covers new and refinanced equipment
Need to know
- Personal guarantee may be required
- Strong trading history expected
- Terms need validating for large deals
Expert take
A speed-focused equipment lessor that can turn decisions around faster than most. For a £1 million plant acquisition, the four-hour response time is compelling if you are bidding on equipment and need certainty. Thorough underwriting follows before funds are released.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: A high-street bank with the balance sheet to fund plant purchases from £1,000 to £25 million. Asset finance sits alongside revolving credit, term loans, and property-backed options, so you can structure a broader funding package if needed. Annual rates run from 8.5% to 14.9%. Expect bank-grade underwriting, which can be slower and more document-heavy than alternative lenders.
Best next step: Prepare for detailed bank underwriting requirements.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Lending capacity up to £25 million
- Full suite of business finance products
- Established high-street reputation
Need to know
- Underwriting can be slower than non-banks
- Detailed financials are required
- Personal guarantees may apply
Expert take
A mainstream banking name with the capital depth for large-ticket plant finance. For a £1 million plant purchase, Barclays brings brand stability and the option to bundle asset finance with other facilities. Their approval process rewards patience and thorough preparation.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Covers a wide spectrum of asset finance needs with facilities from £15,000 to £5 million. Beyond plant and machinery, this lender also handles revolving credit, term loans, and acquisition finance, which suits businesses scaling through both asset purchases and bolt-on deals. Annual rates sit between 8% and 15%. Expect security requirements and legal costs on larger transactions.
Best next step: Suits businesses combining plant and acquisition finance.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Range spans £15,000 to £5 million
- Multiple finance products available
- Annual rates from 8% to 15%
Need to know
- Security is required for larger deals
- Legal costs may be added
- Affordability evidence is expected
Expert take
A versatile finance house that can handle plant purchases alongside broader corporate funding needs. For a £1 million plant investment, the cross-product capability is useful if you are funding equipment and pursuing growth deals simultaneously.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: At 5% annually, plant finance costs drop noticeably for deals of all sizes. Facilities start from £500 and scale upwards comfortably. Funding is tied to the asset, which can mean a simpler application than unsecured alternatives. Expect a turnaround of two to five days rather than same-day decisions.
Best next step: Budget two to five days for funding completion.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Rates starting from 5% annually
- Asset-backed structure simplifies process
- Handles both small and large deals
Need to know
- Funding takes two to five days
- Deposits or valuations may apply
- Not an instant-decision lender
Expert take
A cost-competitive asset finance provider with rates that start noticeably lower than many peers. For a £1 million plant purchase, the headline rate is attractive. The two-to-five-day timeline means it suits planned acquisitions rather than urgent purchases.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: With lending capacity reaching £10 million, this lender funds plant investments across the full spectrum from £1,000 upwards. Annual rates of 5% to 15% provide a useful cost benchmark against other funders. Funding typically takes around 48 hours from application to completion.
Best next step: Expect around 48 hours for funding to complete.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Lends from £1,000 to £10 million
- Annual rates between 5% and 15%
- Handles large plant deals routinely
Need to know
- Turnaround runs around 48 hours
- Underwriting criteria vary by deal size
- Product fit needs confirming
Expert take
A well-funded lender with significant headroom above the £1 million mark. For a plant purchase of this scale, Aldermore's experience in mid-to-large ticket asset finance means the deal is unlikely to stretch their credit appetite.
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: Built for established mid-market firms, particularly in transport, manufacturing, and construction where plant and machinery are core assets. Facilities stretch from £25,000 to £100 million, with bespoke monthly rates from 3.5% to 10%. Decisions come within 24 hours. A turnover threshold around £500,000 applies, so smaller firms may not qualify.
Best next step: Best suited to firms turning over £500,000 or more.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Lending ceiling reaches £100 million
- Bespoke pricing for large transactions
- Deep sector knowledge in plant-heavy industries
Need to know
- £500,000 minimum turnover typically required
- Rates quoted on a monthly basis
- Mid-market focus excludes smaller firms
Expert take
A merchant banking group with genuine expertise in plant-heavy sectors like manufacturing, transport, and construction. For a £1 million plant investment, their sector familiarity can speed underwriting. The turnover threshold sets a clear eligibility floor.
Asset Finance Calculator
How asset finance works for £1 million plant purchases
Asset finance lets you spread the cost of plant and machinery over time rather than paying the full £1 million upfront. The two main structures are hire purchase and finance lease.
With hire purchase, you own the asset at the end of the agreement. You pay a deposit, typically 10% to 15% of the equipment value, then repay the balance plus interest in monthly instalments. Reward Funding offers up to 85% loan-to-value on asset finance facilities, which means you would need to cover the remaining 15% yourself.
A finance lease keeps the asset off your balance sheet. The lender buys the plant and you rent it for a fixed period. At the end, you can continue renting, return the equipment, or sell it on the lender's behalf.
For plant worth £1 million, lenders will typically secure the finance against the equipment itself. This means the plant serves as collateral, which can make approval more straightforward than an unsecured loan.
What lenders assess on high-value plant finance applications
Lenders underwriting £1 million plant finance will look closely at your business financials, trading history, and the asset itself. Most will expect at least one year of trading. Close Brothers requires a minimum of 12 months, while Aldermore Asset Finance may consider businesses with as little as six months.
Turnover requirements vary. Lombard sets a minimum turnover of £25,000, which is relatively accessible. Close Brothers, however, asks for at least £500,000 in annual turnover, reflecting its focus on larger, well-established businesses.
A personal guarantee is standard at this level. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all require directors to provide one. None of these lenders require you to be a homeowner.
Lenders will also scrutinise the plant itself. They want to know the equipment holds its value and has clear resale potential. Specialised or bespoke machinery may attract tighter terms than standard plant with a strong second-hand market.
Comparing rates and terms across £1 million plant finance lenders
Rates for £1 million plant finance sit in a wide band, and the structure of the quote matters as much as the headline figure. Reward Funding publishes rates from 0.99% to 3% per month, while Lombard sits between 4% and 11.5% per month. Close Brothers quotes bespoke rates in the 3.5% to 10% per month range.
Annual-rate lenders include Time Finance at 5.5% to 13.5% per year, Aldermore at 5% to 15% per year, and Barclays at 8.5% to 14.9% per year. Propel Finance spans 5% to 20% per year, and Acorn Business Finance runs from 8% to 15% per year.
Term lengths also differ. Several lenders cap facilities at seven years, including Aldermore and Close Brothers. Barclays stands out with terms stretching up to 25 years, while Reward Funding structures shorter facilities from three months to one year.
Loan-to-value is another key variable. Aldermore and Propel Finance both offer up to 100% LTV, meaning no deposit is required. Close Brothers goes to 90%, and Reward Funding to 85%.
Structuring a £1 million plant finance deal that works
Securing £1 million in plant finance requires careful preparation. Start by getting your financial documents in order. Lenders will expect up-to-date management accounts, tax returns, and bank statements. If your business is relatively young, a strong set of forecasts can help bridge gaps in trading history.
Consider the VAT position. If you are VAT-registered, you can typically reclaim the VAT on the plant purchase. Some lenders will finance the VAT-exclusive amount, meaning you need to fund the VAT portion yourself and reclaim it later. Others may include VAT in the facility.
Working with a broker can streamline the process. Brokers understand which lenders actively write large-ticket plant finance and can match your circumstances to the right panel. This is especially useful at the £1 million level, where lender appetite shifts with market conditions.
Finally, think about the asset lifecycle. If the plant depreciates quickly, a shorter term may suit better. If the equipment has a long working life, spreading repayments over five to seven years can ease cash flow while the asset generates revenue.
