Top 10 Asset Finance Lenders for £400,000 in 2026
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Top £400,000 Asset Finance Lenders Compared
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established firms financing heavy plant or machinery at £400,000 level | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Businesses comparing competitive annual-rate options for equipment finance | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Larger mid-market firms seeking asset finance from a well-known provider | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Businesses wanting annual-rate asset finance with flexible terms | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Companies that need rapid decisions on equipment leasing | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Businesses wanting asset finance alongside existing banking relationship | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-market firms needing specialist asset finance brokerage support | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Businesses comparing a wide rate spectrum across asset types | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Growing firms with at least six months trading history | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Larger established businesses with strong turnover seeking bespoke terms | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance is a funding arrangement where a lender purchases the equipment, vehicle, or machinery your business needs and you repay the cost in instalments over an agreed term. For established UK businesses, it offers a way to acquire high-value assets without draining working capital. At the £400,000 level, this typically supports major plant upgrades, fleet expansion, or production-line investment.
Comparing asset finance lenders at £400,000 means looking beyond the quoted interest rate. You should weigh whether the lender offers hire purchase, finance lease, or operating lease structures to match your accounting needs. Deposit requirements, repayment flexibility, and the lender's experience with your asset type all matter. At this amount, lenders will typically want to see the asset's make, model, and expected lifespan before quoting.
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 as a revolving credit line, letting businesses draw against equipment, vehicles or machinery as needed rather than taking a single fixed loan. Monthly rates start from 0.99%, with facilities from £100,000 to £5 million. Funding decisions land within 24 hours. The trade-off: revolving limits can be reviewed or withdrawn, and costs may rise with heavier usage.
Best next step: Asset-backed revolving credit for equipment purchases.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving drawdown structure for repeat asset purchases
- Monthly rates as low as 0.99%
- Same-day funding decisions available
Need to know
- Requires suitable business assets as security
- Limits may be reviewed or reduced
- Valuation or legal costs may apply
Expert take
Reward Funding runs an asset-based lending model for businesses with tangible equipment or vehicles. For £400,000, the revolving structure suits firms planning repeat asset acquisitions rather than a single purchase.
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 turns around asset finance applications within 24 hours, which helps when equipment or vehicle purchases cannot wait. Annual rates range from 11% to 16%, with facilities spanning £10,000 to £2 million. Funding is tied directly to the asset being acquired, preserving working capital. The limitation is that specialist or older assets may require deposits or additional valuation.
Best next step: Fast asset finance for vehicles and equipment.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- 24-hour application turnaround
- Funding tied to asset preserves cash flow
- Facilities available from £10,000
Need to know
- Older or niche assets may need deposits
- Valuation checks on specialist equipment
- Asset eligibility criteria apply
Expert take
Liberty Leasing is a specialist asset finance provider with quick turnaround times. For a £400,000 asset purchase, the speed of decision-making matters when equipment or fleet acquisitions are time-sensitive and traditional bank timelines would delay operations.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard writes asset finance facilities up to £5 million, covering multiple vehicles, large plant machinery or mixed equipment fleets. Monthly rates range from 4% to 11.5%, with decisions typically within 24 hours. Part of a major banking group, the lender brings stability to larger transactions. Deposits or asset eligibility checks may apply depending on the equipment.
Best next step: Large-scale asset finance from a banking-backed lender.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities available up to £5 million
- Decisions typically within 24 hours
- Backed by a major banking group
Need to know
- Deposits required on some asset types
- Asset eligibility checks apply
- Monthly rates vary by asset and term
Expert take
Lombard sits inside a major banking group and lends against vehicles, plant and machinery. For £400,000, the institutional backing and high facility ceiling make it a steady pick when financing mixed or large-ticket assets.
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 under one roof, suiting businesses that need to fund equipment while also unlocking cash tied up in unpaid B2B invoices. Annual rates run from 5.5% to 13.5%, with facilities reaching £5 million. Funding decisions come within 24 hours. The dual-product approach means suitability depends on both asset quality and debtor concentration.
Best next step: Asset and invoice finance from a single lender.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combined asset and invoice finance
- Facilities up to £5 million
- Annual rates from 5.5%
Need to know
- Invoice quality affects eligibility
- Debtor concentration is reviewed
- Asset deposits may still apply
Expert take
Time Finance covers both asset and invoice finance under one roof. For £400,000 of equipment funding, it works best when your business also has B2B receivables to finance, giving you a single relationship for both needs.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Admiral leasing prices equipment finance from 5.5% annually, which sits at the more competitive end for asset-backed lending at this level. Turnaround can be as quick as four hours, and facilities start from £1,000. The lender covers vehicles, machinery and general equipment. The trade-off is that stronger trading history and affordability evidence may be expected to access the headline rates.
Best next step: Competitive-rate equipment leasing from 5.5% annually.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5.5%
- Funding decisions in as little as four hours
- Covers vehicles, plant and machinery
Need to know
- Strong trading history expected
- Affordability evidence may be required
- Personal guarantee may apply
Expert take
Admiral leasing competes on rate for equipment and vehicle finance. For a £400,000 purchase, the combination of quick decisions and annual pricing from 5.5% makes it a cost-conscious pick for businesses with demonstrable trading history.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays brings mainstream bank backing to asset finance, with facilities spanning £1,000 to £25 million and annual rates between 8.5% and 14.9%. The lender funds vehicles, machinery and equipment purchases, and can also structure revolving credit or secured term loans around the asset. Bank underwriting tends to be more thorough than alternative lenders, so decisions may take longer and trading history is scrutinised more closely.
Best next step: Bank-backed asset finance from a high-street name.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Broad facility range up to £25 million
- Multiple product structures available
- Strong brand and institutional backing
Need to know
- Bank underwriting can be slower
- Strong trading history expected
- Personal guarantee may be required
Expert take
Barclays is a high-street banking group with a dedicated asset finance division. For £400,000, the institutional backing brings reassurance, though underwriting is more traditional and suits businesses with clean, well-documented financials.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance covers asset finance from £15,000 to £5 million with annual rates between 8% and 15%. The lender funds equipment, vehicles and machinery, and also offers revolving credit, secured term loans and acquisition finance under one roof. Decisions typically come within 24 hours. The broad product range means a single conversation can cover multiple funding needs beyond the initial asset purchase.
Best next step: Multi-product asset finance from £15,000 to £5 million.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Multiple finance products available
- Decisions within 24 hours
- Covers equipment, vehicles and machinery
Need to know
- Strong trading history expected
- Security and affordability checks apply
- Legal or valuation costs possible
Expert take
Acorn Business Finance is a multi-product broker-lender covering asset finance alongside revolving credit and term loans. For £400,000, the breadth is useful if your funding needs extend beyond a single asset purchase to wider business lending.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Propel Finance funds assets from as little as £500, with annual rates spanning 5% to 20% depending on the equipment, term and applicant profile. Facilities cover vehicles, plant machinery and general business equipment. Funding typically takes two to five days. The wide rate band means pricing is heavily influenced by asset type and credit strength, so headline rates may not apply to every deal.
Best next step: Flexible asset finance from £500 to larger facilities.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Low minimum facility from £500
- Annual rates start from 5%
- Covers vehicles, plant and equipment
Need to know
- Funding takes two to five days
- Rates vary widely by asset type
- Deposits or valuations may apply
Expert take
Propel Finance is a flexible asset funder with a notably low entry point. For £400,000, the lender handles larger purchases well, though pricing depends heavily on the asset profile and business strength.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore Asset Finance writes facilities from £1,000 to £10 million with annual rates between 5% and 15%. The lender serves SMEs across equipment, vehicle and machinery purchases, with funding typically arriving within 48 hours. The broad facility range means businesses can start modestly and scale asset finance as they grow. Deposits and asset eligibility checks apply depending on the equipment.
Best next step: Asset finance from £1,000 to £10 million for SMEs.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities from £1,000 to £10 million
- Annual rates between 5% and 15%
- Funding within 48 hours
Need to know
- Deposits may be required
- Asset eligibility checks apply
- SME-focused underwriting criteria
Expert take
Aldermore Asset Finance is an SME-focused lender with a wide facility range. For £400,000, competitive annual rates and the ability to scale funding as needs grow make it a practical pick for established businesses adding to their asset base.
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 targets established mid-market businesses, writing asset finance from £25,000 to £100 million with bespoke monthly rates from 3.5% to 10%. The lender has particular strength in transport, manufacturing and construction sectors. Decisions typically land within 24 hours. The mid-market focus means businesses with turnover below £500,000 may find the eligibility bar higher than with smaller specialist funders.
Best next step: Mid-market asset finance with bespoke pricing.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £100 million
- Bespoke rates from 3.5% monthly
- Sector expertise in transport and manufacturing
Need to know
- Minimum turnover around £500,000
- Mid-market eligibility bar applies
- Bespoke pricing means case-by-case terms
Expert take
Close Brothers is a mid-market specialist with deep experience in transport, manufacturing and construction. For £400,000, it suits established sector firms where underwriting decisions benefit from real understanding of the equipment and its commercial use.
Asset Finance Calculator
What assets can a £400,000 asset finance facility cover
At £400,000, most asset finance lenders will consider a wide range of business assets. Common categories include heavy plant machinery, commercial vehicles, manufacturing equipment, agricultural machinery, printing presses, and construction plant. Some lenders also finance soft assets such as IT hardware, office fit-outs, and specialist software, though repayment terms may be shorter on these.
The lenders on this page all have maximum loan sizes that comfortably accommodate £400,000. Reward Funding and Lombard both offer facilities up to £5,000,000. Barclays extends to £25,000,000 and Close Brothers reaches £100,000,000. At this ticket size, lenders will typically expect the assets to hold strong resale value and be clearly identifiable for security purposes. If you are financing a mixed fleet or multiple asset types, a single facility can often cover the full amount, simplifying your arrangement.
Deposit and LTV expectations for £400,000 asset finance
Most asset finance agreements at this level do not require a cash deposit in the traditional sense. Instead, lenders work to a loan-to-value ratio, funding a percentage of the asset's invoice price. The balance is either paid by you upfront or structured through a balloon payment at the end of the term.
LTV ratios vary across the lenders in our comparison. Propel Finance and Aldermore both offer up to 100% LTV on qualifying assets, meaning the full £400,000 could be financed with no upfront payment. Reward Funding typically funds up to 85%, which would leave a £60,000 residual on a £400,000 asset. Close Brothers funds up to 90%, requiring around £40,000 from your business.
Where a deposit is not required, lenders often adjust the rate or structure a larger final balloon to manage risk. For VAT-registered businesses, the VAT element can often be funded separately, reducing the initial cash outlay further.
Typical interest rates on £400,000 asset finance agreements
Rates on asset finance vary by lender and by the strength of your application. At £400,000, you can expect rates towards the competitive end of each lender's published range, though the final figure depends on your trading history, asset type, and term length.
Reward Funding quotes from 0.99% to 3% per month. Close Brothers ranges from 3.5% to 10% per month, and Lombard from 4% to 11.5% per month. Among annual-rate lenders, Time Finance and Admiral Leasing both publish rates from 5.5% to 13.5% per year. Aldermore sits at 5% to 15% per year, and Barclays at 8.5% to 14.9% per year.
| Lender | Rate type | Typical rate range |
|---|---|---|
| Reward Funding | Monthly interest | 0.99% – 3% |
| Close Brothers | Monthly interest | 3.5% – 10% |
| Time Finance | Annual interest | 5.5% – 13.5% |
| Aldermore | Annual interest | 5% – 15% |
| Barclays | Annual interest | 8.5% – 14.9% |
Monthly and annual rates are not directly comparable. Always ask lenders to quote on the same basis when comparing offers for a £400,000 facility.
Asset finance vs secured business loans for £400,000 equipment purchases
Asset finance and secured business loans both fund equipment, but they work differently at this ticket size. With asset finance, the equipment itself serves as security. The lender retains legal title until the agreement ends. You use the asset while making fixed payments, and ownership transfers at the end if you have chosen hire purchase. With a secured business loan, you own the asset from day one, but the lender takes a charge over business property or other assets as collateral.
Asset finance is typically faster to arrange for equipment purchases. Lenders assess the asset value and your ability to pay, rather than requiring detailed business plans or property valuations. At £400,000, asset finance also tends to offer more flexible end-of-term options, including refinancing the balloon, upgrading the equipment, or returning the asset.
A secured loan may suit you if you want outright ownership immediately and have suitable property security. Asset finance works better if you prefer the equipment to stand as its own security and want fixed, predictable costs over the asset's working life.
