Top 10 Lenders for £350,000 Plant Finance in 2026
.png)
Top 10 Lenders for £350,000 Plant Finance — At a Glance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Mid-market construction firms funding heavy plant and machinery | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Construction SMEs needing plant finance from £10,000 upwards | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established contractors funding plant with structured repayment plans | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Growing construction businesses funding plant up to £5 million | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Construction firms needing fast decisions on equipment leasing | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Larger contractors seeking bank-backed plant and machinery finance | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-size construction operators funding plant from £15,000 upwards | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Smaller construction businesses funding essential plant equipment | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Construction firms needing plant finance with broad eligibility | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Established civil engineering firms funding major plant investments | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets businesses spread the cost of plant and machinery over time, with the equipment itself serving as security. For construction and industrial firms, this preserves working capital that would otherwise be tied up in large upfront purchases. It keeps cash available for wages, materials and project mobilisation. At £350,000, plant finance typically covers excavators, bulldozers, tractors, CNC machinery or heavy goods vehicles.
Choosing the right plant finance lender goes well beyond comparing headline rates. Construction businesses should weigh each lender's experience with heavy equipment assets, their understanding of industry purchasing cycles, and the deposit they expect. Contract terms, seasonal payment structures and early settlement flexibility all affect the total cost of borrowing. A lender that regularly funds plant in the £350,000 bracket will typically offer faster, more informed underwriting than one focused on smaller-ticket general equipment.
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: Funding plant and machinery from 0.99% monthly, Reward Funding handles asset finance facilities from £100,000 to £5 million. The lender funds productive assets across construction, agriculture and manufacturing, releasing cash within 24 hours once approved. Expect a secured facility where the asset itself serves as collateral, though deposit requirements and asset eligibility checks apply.
Best next step: Generate offers for plant finance now.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Low rates from 0.99% monthly
- Funding within 24 hours
- Facilities up to £5 million
Need to know
- Asset itself serves as security
- Deposit typically required
- Asset eligibility checks apply
Expert take
Reward Funding is a flexible asset-backed lender comfortable with larger plant and machinery deals. Construction firms benefit from the combination of low starting rates and quick turnaround, making it a practical choice for time-sensitive equipment purchases.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Within 24 hours, Liberty Leasing can fund plant and machinery purchases from £10,000 to £2 million. Annual rates start at 11% for construction and industrial assets including excavators, loaders and processing machinery. The lender ties funding directly to the asset, which helps preserve working capital. Deposits and valuations may be needed depending on the equipment.
Best next step: Compare plant finance rates through our form.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Same-day funding decisions
- Annual rates from 11%
- Preserves working capital
Need to know
- Asset-backed only
- Deposits may apply
- Valuations sometimes required
Expert take
Liberty Leasing is a straightforward asset finance provider that prioritises speed without overcomplicating the process. For construction businesses needing to secure plant quickly, the 24-hour turnaround keeps procurement timelines on track.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Up to £5 million is available through Lombard for heavy plant, agricultural machinery and industrial equipment. Monthly rates range from 4% to 11.5%, with funding decisions typically within 24 hours. As a long-established name in UK asset finance, Lombard brings deep experience structuring deals for construction firms. Asset eligibility checks are part of the process.
Best next step: Request plant finance offers via our form.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Funding up to £5 million
- Covers heavy plant and machinery
- Decisions within 24 hours
Need to know
- Asset eligibility checks apply
- Monthly rate structure
- Secured against the asset
Expert take
Lombard is one of the UK's most established asset finance names, with decades of experience underwriting plant and machinery. Construction businesses gain access to substantial facilities with the confidence of a lender that understands heavy equipment cycles.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Construction businesses juggling equipment purchases and unpaid invoices can tap both asset and invoice finance through Time Finance. Asset-backed facilities reach £5 million, with annual rates from 5.5% to 13.5%. This dual approach suits contractors who need plant funding while carrying unpaid invoices on their books. Suitability depends on invoice quality and debtor concentration.
Best next step: Explore combined finance options through our form.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Asset and invoice finance combined
- Up to £5 million available
- Annual rates from 5.5%
Need to know
- Invoice quality affects eligibility
- Debtor concentration reviewed
- Asset deposits may apply
Expert take
Time Finance operates a dual-product model that suits construction firms juggling equipment purchases and late-paying clients. The ability to unlock both asset and invoice value under one relationship can simplify cash flow management.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Equipment leasing from Admiral Leasing starts at 5.5% annually, with facilities from £1,000 covering plant, machinery and commercial vehicles. Funding decisions arrive in as little as four hours, making this one of the faster routes to securing construction equipment. The leasing structure can align repayments with project cash flows. Strong trading history and affordability evidence may be required.
Best next step: Get equipment leasing quotes through our form.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding from £1,000
- Decisions in four hours
- Leasing aligns with cash flow
Need to know
- Trading history reviewed
- Affordability checks apply
- Personal guarantee possible
Expert take
Admiral Leasing is a specialist equipment lessor with a rapid four-hour decision turnaround. Construction firms that can demonstrate stable trading history gain access to fast equipment funding with payments structured around project cash flows.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: From £1,000 to £25 million, Barclays' asset finance covers the full spectrum of construction plant and equipment. Annual rates range from 8.5% to 14.9%, with the bank's broad product coverage extending beyond plant into property and revolving credit. Bank underwriting tends to be more thorough than alternative lenders, so expect a longer process with affordability evidence required.
Best next step: Compare Barclays plant finance through our form.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Loans up to £25 million
- Broad product coverage
- Established high-street lender
Need to know
- Bank underwriting is slower
- Affordability evidence needed
- Personal guarantee possible
Expert take
Barclays is a mainstream high-street bank with the scale to fund plant purchases across the full spectrum of construction businesses. Familiar brand processes and product breadth give established contractors confidence when financing large equipment fleets.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Plant and machinery funding from £15,000 to £5 million is available through Acorn Business Finance, with annual rates between 8% and 15%. The lender covers equipment across construction, manufacturing and transport, turning around decisions within 24 hours. Acorn also handles revolving credit and acquisition finance, supporting construction firms scaling their fleet. Expect security and deposit requirements.
Best next step: Generate plant finance offers via our form.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding from £15,000
- Decisions within 24 hours
- Supports fleet expansion
Need to know
- Security requirements apply
- Deposit likely needed
- Affordability assessed
Expert take
Acorn Business Finance is a multi-product lender that can fund plant purchases while also supporting wider business needs like acquisition finance. Construction firms scaling their operations benefit from having several funding lines under one roof.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Asset-backed facilities from just £500 make Propel Finance accessible for smaller plant purchases alongside larger deals. Annual rates span 5% to 20%, with funding typically taking two to five days. The lender ties finance directly to the equipment, suiting construction businesses adding individual machines or tools to their fleet. Expect asset eligibility checks and possible deposit requirements.
Best next step: Request Propel Finance rates through our form.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Facilities from just £500
- Annual rates from 5%
- Covers individual machines
Need to know
- Two to five day funding
- Asset eligibility checked
- Deposit may be required
Expert take
Propel Finance serves the broadest range of deal sizes, from compact equipment to substantial plant. The two-to-five-day timeline suits construction firms that can plan purchases in advance rather than needing same-day decisions.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: From compact site equipment to heavy earthmoving machinery, Aldermore Asset Finance funds construction plant across facilities of £1,000 to £10 million. Annual rates range from 5% to 15%, with funding decisions typically within 48 hours. The lender's large upper limit suits established contractors making significant fleet investments. Asset-backed security is standard.
Best next step: Explore Aldermore plant finance through our form.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Up to £10 million available
- Rates from 5% annually
- Covers all plant types
Need to know
- 48-hour funding timeline
- Asset-backed only
- Larger deals may need valuation
Expert take
Aldermore Asset Finance sits between high-street banks and specialist lenders, offering substantial facility sizes with more flexible criteria. Construction firms with mixed plant needs benefit from a lender that handles both compact and heavy equipment.
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: Bespoke asset finance from £25,000 to £100 million is Close Brothers' forte, with monthly rates tailored between 3.5% and 10%. The lender focuses on established mid-market construction, transport and manufacturing businesses turning over £500,000 or more. This is a relationship-led funder that structures deals around asset profile and business strength. Expect a thorough underwriting process.
Best next step: Get Close Brothers plant finance quotes via our form.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £100 million
- Bespoke rate structures
- Relationship-led approach
Need to know
- £500,000 minimum turnover
- Thorough underwriting process
- Mid-market focus
Expert take
Close Brothers is a long-established merchant bank that takes a bespoke approach to asset finance. Larger construction firms with strong trading histories gain access to substantial, tailormade facilities that high-street banks may not match on structure.
Asset Finance Calculator
How plant finance works for £350,000 construction equipment purchases
Asset finance lets construction firms spread the cost of a £350,000 machine over its working life. The equipment itself serves as security, which often means you do not need to pledge property or offer additional collateral. This is a key advantage for contractors who rent yards or operate from leasehold premises.
Most plant finance takes the form of hire purchase or finance lease. With hire purchase, you own the asset after the final instalment. With a finance lease, the lender retains ownership and you pay for use of the equipment. Both structures preserve working capital that construction businesses need for retention payments, CIS deductions, and project-based cash flow gaps. Lenders on this list routinely fund facilities at this level. Close Brothers lends up to £100,000,000 and Barclays up to £25,000,000, so a £350,000 transaction sits comfortably within their appetite.
Deposit and LTV requirements when financing £350,000 of plant machinery
Most plant finance arrangements require a deposit of 10% to 30% of the equipment value. On a £350,000 purchase, that means providing between £35,000 and £105,000 upfront. Loan-to-value ratios show how much of the purchase price a lender will fund:
| Lender | Maximum LTV |
|---|---|
| Propel Finance | 100% |
| Aldermore Asset Finance | 100% |
| Close Brothers | 90% |
| Reward Funding | 85% |
A 100% LTV means no deposit may be required, though lenders still assess affordability and asset type before agreeing terms. VAT-registered construction firms can reclaim VAT on the equipment purchase, which helps offset upfront costs. The VAT is added to the financed amount or paid separately depending on how the deal is structured.
Equipment types and tax benefits for construction firms financing plant
Asset finance covers a wide range of plant and machinery. Construction firms typically fund excavators, bulldozers, dumpers, telehandlers, crushers, and concrete pumps. Agricultural operators finance tractors, combine harvesters, and sprayers. Manufacturers fund CNC machinery, presses, and production lines. Logistics businesses finance HGVs, trailers, and forklifts. Lenders on this list fund both new and used equipment, though rates and LTV terms may tighten for older assets.
Financing rather than buying outright brings clear tax advantages. Under the Annual Investment Allowance, UK businesses can deduct the full value of qualifying plant and machinery from profits before tax in the year of purchase, up to £1,000,000. This applies whether you finance or pay cash. Lease payments are also typically tax-deductible as a business expense, and VAT-registered firms can reclaim VAT on monthly payments.
Eligibility criteria for £350,000 plant finance lenders in construction
Lenders assess trading history, turnover, and affordability before approving plant finance. Lombard requires at least one year of trading and a minimum turnover of £25,000. Aldermore Asset Finance accepts businesses from six months of trading with no minimum turnover requirement. Close Brothers expects a higher turnover threshold of £500,000, which suits established contractors with consistent revenue.
Most lenders on this list require a personal guarantee from directors. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all require one. This is standard practice for asset-backed lending in construction and manufacturing. Rate structures vary. Reward Funding quotes 0.99% to 3% per month. Lombard ranges from 4% to 11.5% per month. Close Brothers sits at 3.5% to 10% per month. On an annual basis, Aldermore and Propel Finance both fall in the 5% to 15% per year range, while Liberty Leasing quotes 11% to 16% per year.
