Top 10 Lenders for £500,000 Asset Finance in 2026
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Top 10 Lenders for £500,000 Asset Finance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Mid-to-large asset purchases from £100k, including heavy machinery | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Established firms wanting annual-rate asset finance from £10,000 | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | VAT-registered businesses needing flexible asset funding up to £5m | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Growing businesses needing tailored asset finance up to £5m | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Smaller to mid-sized firms funding equipment from £1,000 | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Established businesses preferring high-street bank asset finance | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Specialist asset finance for mid-to-large equipment purchases | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Broad asset funding from £500, including softer business assets | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Businesses needing wide-ranging asset finance up to £10m | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Larger established firms with turnover exceeding £500,000 | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets a business acquire machinery, vehicles, or equipment by spreading the cost over the asset's working life, with the asset itself securing the funding. For established firms, it preserves working capital and can unlock tax-efficient ownership or rental structures. At £500,000, asset finance typically supports a substantial equipment upgrade, a fleet expansion, or a production line investment without draining cash reserves.
Comparing asset finance lenders goes well beyond the quoted rate. The structure matters: hire purchase builds equity, while leasing can offer lower monthly outgoings and tax advantages. Deposit requirements, term flexibility, and the types of asset each lender will fund all affect real-world value. For a £500,000 facility, also check whether the lender caps exposure at a set percentage of asset value and how they handle soft assets versus hard assets like heavy plant or commercial vehicles.
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: With monthly rates starting from 0.99%, Reward Funding stands out for cost-conscious businesses financing £500,000 of equipment or machinery. The lender approves deals within 24 hours and uses a secured, asset-backed structure that keeps repayments predictable. Expect to provide a deposit and undergo asset valuation as part of the process.
Best next step: Competitive monthly rates on larger asset facilities.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Monthly rates from 0.99%
- Funding decisions within 24 hours
- Facilities from £100,000 to £5 million
Need to know
- Deposit and asset valuation required
- Secured against the asset being financed
- Revolving credit structure available
Expert take
A secured asset lender that competes on price for mid-to-large facilities. For a £500,000 equipment or vehicle purchase, the low monthly rate band works in the borrower's favour, particularly when the asset holds strong resale value.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Businesses trading for at least a year or two often find Liberty Leasing a straightforward fit for vehicle and equipment finance. The lender handles facilities up to £2 million, with annual rates between 11% and 16%. Decisions typically land within 24 hours. Asset eligibility checks and a deposit may be needed.
Best next step: Quick decisions on vehicle and equipment finance deals.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £2 million
- Decisions within 24 hours
- Suits established trading businesses
Need to know
- Annual rates between 11% and 16%
- Deposit may be required
- Asset must pass eligibility checks
Expert take
A direct asset finance provider geared towards established SMEs. For a £500,000 machinery or vehicle acquisition, the lender's comfort with mid-range deals and quick turnaround give applicants a clear path to funding, provided the asset meets its criteria.
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 heavy machinery, commercial vehicles and production equipment. As one of the UK's most established names in asset-backed funding, it can turn decisions around within 24 hours. Monthly rates range from 4% to 11.5%. Asset valuations and a deposit are typical requirements.
Best next step: Established lender for larger asset finance deals.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £5 million
- Decisions within 24 hours
- Covers diverse asset types
Need to know
- Monthly rates from 4% to 11.5%
- Asset valuation typically required
- Deposit expected on most deals
Expert take
A long-standing bank-backed asset funder with deep experience in mid-to-large transactions. For a £500,000 purchase, Lombard brings institutional stability and a wide asset appetite, making it a solid fit for businesses acquiring specialist or high-value equipment.
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, which suits businesses that need equipment funding alongside working capital. Annual rates run from 5.5% to 13.5%, and facilities reach £5 million. Decisions come within 24 hours. The dual-product model works particularly well for B2B firms managing both asset purchases and unpaid invoices.
Best next step: Combined asset and invoice finance from one lender.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 5.5% annually
- Facilities up to £5 million
- Asset and invoice finance available
Need to know
- Invoice quality affects facility terms
- Asset deposit may be required
- Best suited to B2B businesses
Expert take
A hybrid lender that pairs asset funding with invoice finance for working capital flexibility. For a business buying £500,000 of equipment while managing debtor cycles, the combined approach can ease cash flow pressure across the board.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Admiral Leasing can approve asset finance within four hours, making it one of the faster routes to funding equipment or vehicles at this level. Facilities start from £1,000 with annual rates between 5.5% and 13.5%. The lender covers hire purchase and leasing structures. Strong trading history and a personal guarantee may be required on larger deals.
Best next step: Same-day decisions on equipment and vehicle finance.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Approvals in as little as 4 hours
- Annual rates from 5.5%
- Hire purchase and leasing options
Need to know
- Personal guarantee may be requested
- Strong trading history expected
- Asset valuation likely needed
Expert take
A responsive asset finance provider that prioritises speed without sacrificing product choice. For a £500,000 equipment purchase where timing matters, the four-hour decision window gives businesses a genuine advantage in competitive buying situations.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays funds asset purchases from £1,000 to £25 million, giving established businesses a high-street route to £500,000 equipment or vehicle finance. Annual rates sit between 8.5% and 14.9%, with decisions typically within 24 hours. The bank's asset finance arm covers plant, machinery, commercial vehicles and technology. Underwriting can be more thorough than alternative lenders.
Best next step: High-street asset finance with broad product coverage.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Lends up to £25 million
- Covers diverse asset categories
- Brand stability and recognition
Need to know
- Bank underwriting can be slower
- Annual rates 8.5% to 14.9%
- Personal guarantee may apply
Expert take
A mainstream bank lender with one of the widest asset finance books in the UK. For a £500,000 purchase, Barclays suits businesses that value institutional backing and are prepared for a more detailed credit assessment process.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance brings hire purchase, leasing and refinancing into a single relationship, with facilities from £15,000 to £5 million. Annual rates range from 8% to 15% and decisions typically land within 24 hours. The lender also handles acquisition and premium finance, useful for businesses funding equipment alongside wider growth plans.
Best next step: Flexible asset finance with wider funding options.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Facilities up to £5 million
- Hire purchase and leasing available
- Also covers acquisition finance
Need to know
- Annual rates from 8% to 15%
- Security and valuation required
- Trading history will be reviewed
Expert take
A multi-product lender that wraps asset finance into a wider borrowing relationship. For a business acquiring £500,000 of machinery as part of a growth plan, the additional acquisition and premium finance lines add useful flexibility.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Annual rates from 5% make Propel Finance a cost-competitive option for asset-backed funding on equipment and vehicles. The lender handles facilities from £500 upwards and can structure deals through hire purchase or leasing. Funding lands within two to five days, which is slightly slower than some peers. Asset eligibility checks and a deposit are standard requirements.
Best next step: Competitive annual rates on hire purchase and leasing.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5%
- Hire purchase and leasing structures
- Accepts facilities from £500
Need to know
- Funding takes 2 to 5 days
- Asset deposit normally required
- Asset must meet eligibility criteria
Expert take
A price-focused asset funder that competes on annual rates rather than speed. For a £500,000 machinery or vehicle purchase where cost is the priority, the 5% entry rate is attractive, though funding timelines need factoring into procurement plans.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore covers plant, vehicles and specialist equipment through asset finance facilities reaching £10 million. For a £500,000 purchase, annual rates range from 5% to 15% with funding typically completed within 48 hours. The lender's balance sheet capacity makes it a dependable option across most asset categories. A deposit and valuation are standard.
Best next step: Broad asset appetite with facilities up to £10 million.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £10 million
- Annual rates from 5%
- Covers specialist and general assets
Need to know
- Funding typically within 48 hours
- Deposit and valuation required
- Annual rates can reach 15%
Expert take
A well-capitalised lender with a broad asset appetite spanning plant, vehicles and specialist equipment. For a £500,000 purchase, Aldermore's balance sheet strength and rate flexibility make it a dependable option across most asset categories.
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 strong track record in transport, manufacturing and construction, making it a natural fit for businesses in those sectors acquiring £500,000 of plant, vehicles or heavy equipment. Facilities run from £25,000 to £100 million, with bespoke monthly rates between 3.5% and 10%. Decisions land within 24 hours. The lender typically serves mid-market firms with turnover above £500,000.
Best next step: Sector-specialist asset finance for mid-market businesses.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Deep sector expertise in manufacturing
- Facilities up to £100 million
- Bespoke rate structures available
Need to know
- Typically requires £500k+ turnover
- Bespoke monthly rates apply
- Asset valuation and deposit needed
Expert take
A mid-market specialist with genuine sector depth in transport, manufacturing and construction. For a £500,000 asset purchase in these industries, Close Brothers brings underwriting that understands the equipment and its earning potential.
Asset Finance Calculator
How asset finance works for £500,000 business asset purchases
Asset finance lets your business spread the cost of high-value assets over time rather than paying the full £500,000 upfront. The lender buys the asset on your behalf, and you repay in fixed instalments.
At the £500,000 level, two structures dominate. With hire purchase, you own the asset after the final payment. With a finance lease, you rent the asset over its useful life and the lender retains ownership. Your choice affects balance sheet treatment and tax relief on interest charges.
The asset itself acts as security for the facility. This means lenders focus more on the asset's resale value than on your wider balance sheet, though personal guarantees are still common at this level. Most lenders on this list, including Reward Funding, Liberty Leasing, and Close Brothers, require a personal guarantee from directors.
VAT on a £500,000 asset can be significant. Under hire purchase, you typically reclaim the VAT upfront, while lease arrangements spread VAT across each rental payment.
Types of assets you can finance with £500,000
A £500,000 asset finance facility opens access to a wide range of business assets. Common categories include heavy plant machinery such as excavators, CNC milling machines, and industrial printing presses. Commercial vehicles are another frequent use, from HGVs and specialist tankers to entire light commercial fleets.
Production and manufacturing equipment also falls into this bracket, including assembly lines, packaging machinery, and commercial refrigeration systems. Agricultural businesses often finance combine harvesters, tractors, and grain handling equipment at this level. Construction firms typically fund bulldozers, telehandlers, and mobile cranes.
Some lenders are particularly well suited to larger assets. Close Brothers, with a lending range from £25,000 to £100,000,000, supports heavy industrial equipment. Propel Finance and Aldermore both offer up to 100% loan-to-value, which can reduce the upfront cash needed for substantial equipment purchases.
Most lenders will only finance assets with clear resale value and a traceable serial number. Bespoke or highly modified equipment may require a specialist underwriter.
What top lenders look for when approving £500,000 asset finance
Lenders assess three things when you apply for £500,000 in asset finance: your trading history, your turnover, and the asset itself.
Trading history matters. Most lenders expect at least one year of filed accounts. Close Brothers and Lombard both require a minimum of 12 months trading. Aldermore accepts businesses from six months, which provides some flexibility for newer but well-capitalised firms.
Turnover thresholds vary. Lombard sets its minimum at £25,000, while Close Brothers expects at least £500,000 in annual turnover for larger facilities. Many other lenders on this list do not publish a specific turnover floor, instead assessing each application on its overall strength.
A personal guarantee from directors is standard across most lenders at this level. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all require one. This means your personal assets could be at risk if the business defaults. Your business credit profile also matters. Lenders review your payment history, existing debt, and any County Court Judgments before approving a facility of this size.
Comparing rates and terms across the best £500,000 asset finance lenders
At £500,000, even a small rate difference has a material impact on your total cost. Lenders on this list publish widely varying rate structures, so understanding the differences helps you compare effectively.
Some lenders quote monthly rates and others quote annually. Reward Funding publishes rates from 0.99% to 3% per month, while Lombard and Close Brothers sit in a higher monthly band of 3.5% to 11.5% per month. By contrast, Liberty Leasing, Barclays, and Acorn Business Finance all quote annual rates in the 8% to 16% range. Time Finance and Admiral Leasing both publish from 5.5% to 13.5% annually, while Aldermore spans 5% to 15% annually.
Loan-to-value ratios also differ significantly between lenders and directly affect how much deposit you need.
| Lender | Maximum LTV |
|---|---|
| Propel Finance | 100% |
| Aldermore | 100% |
| Close Brothers | 90% |
| Reward Funding | 85% |
When comparing, check whether the rate is fixed or variable, and confirm if it applies to the full £500,000. Some lenders offer lower rates on new assets than on used equipment.
