Top 10 Equipment Finance Lenders for £500,000 in 2026
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Top 10 Lenders for £500,000 Equipment Finance at a Glance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established firms financing heavy plant or commercial vehicle fleets | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Businesses wanting flexible terms on manufacturing or construction equipment | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Well-established firms seeking bank-backed asset finance at scale | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Companies comparing annual-rate structures for six-figure equipment purchases | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Firms seeking rapid turnaround on mixed-value equipment portfolios | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Businesses wanting high-street bank backing for large equipment investments | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-market firms accessing broker-led finance for specialist machinery | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Included for comparison — suits businesses with varied asset portfolios | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Growing businesses needing a lender spanning small to multi-million facilities | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Larger corporates requiring bespoke terms on industrial-scale equipment | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets a business spread the cost of buying equipment, machinery, or vehicles over time while using the asset itself as security. For established firms, it preserves working capital and keeps other credit lines free, making it a practical route for high-value purchases. A £500,000 facility typically supports investment in production lines, heavy plant, commercial vehicle fleets, or specialist manufacturing technology.
Comparing lenders for high-value equipment finance goes well beyond headline rates. Established businesses should weigh the lender's experience with the asset type being financed, repayment flexibility, and whether hire purchase, finance lease, or both are on offer. Funding speed and depth of credit assessment also vary at the £500,000 level. A lender's upper loan limit matters too: a provider whose ceiling sits near your borrowing requirement may offer less attention than one regularly handling facilities of this size.
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 charges monthly interest from 0.99%, which keeps servicing costs predictable on large equipment facilities. It lends against plant, machinery and commercial vehicles, structuring the finance as a secured asset loan with the equipment itself acting as collateral. The lender can fund within 24 hours once approved, but businesses should expect asset valuations and possible deposit requirements before drawdown.
Best next step: Compare asset finance rates with Reward Funding.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Monthly rates from 0.99%
- Funding in 24 hours
- Lends up to £5 million
Need to know
- Asset valuation usually required
- Deposit may be needed
- Secured against the equipment
Expert take
A revolving asset finance specialist that favours established businesses with strong balance sheets. For a £500,000 equipment purchase, its low monthly rates and quick turnaround make it a practical choice 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: Speed defines Liberty Leasing's approach to asset finance. Decisions come within 24 hours, and the lender structures facilities against plant, vehicles or machinery with annual rates from 11% to 16%. For an established business funding a significant equipment purchase, this turnaround keeps procurement timelines on track without tying up working capital.
Best next step: See Liberty Leasing rates for equipment finance.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Decisions within 24 hours
- Lends £10,000 to £2 million
- Asset-backed, preserves cash flow
Need to know
- Annual rates 11% to 16%
- Requires asset as security
- Deposits may be needed
Expert take
A direct asset finance lender built for speed, best suited to businesses that need equipment funded without delay. At £500,000, the 24-hour turnaround preserves procurement momentum, and comparing the annual rate against monthly-rate alternatives helps pin down the true cost.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard funds asset finance facilities up to £5 million, giving larger businesses room to scale equipment investment without splitting across multiple lenders. Monthly interest runs from 4% to 11.5%, and the lender can turn around decisions within 24 hours. As a long-established name in UK asset finance, Lombard suits companies that value institutional backing alongside competitive rates.
Best next step: Compare Lombard equipment finance rates.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Funds facilities up to £5 million
- Monthly rates from 4%
- Institutional lender, 24-hour decisions
Need to know
- Higher monthly rates possible at 11.5%
- Asset serves as security
- Valuations typically required
Expert take
One of the UK's most established asset finance names, part of the NatWest Group. For a £500,000 equipment facility, Lombard's institutional stability pairs well with competitive monthly rates — particularly strong for businesses with clean credit and well-documented asset purchases.
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 that carry unpaid invoices alongside equipment needs can fund both through Time Finance under a single relationship. Annual rates for asset finance sit between 5.5% and 13.5%, with facilities reaching £5 million. The combined approach keeps working capital and equipment funding aligned, though the model suits B2B firms most.
Best next step: Explore Time Finance asset and invoice finance options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combines asset and invoice finance
- Annual rates from 5.5%
- Funds up to £5 million
Need to know
- Best for B2B invoice-led businesses
- Annual rates can reach 13.5%
- Asset security required
Expert take
A hybrid lender that bridges invoice and asset finance, giving B2B firms a single relationship for both working capital and equipment funding. For a £500,000 purchase, the dual-product approach can simplify treasury management if you also carry receivables.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Admiral Leasing funds equipment from £1,000 upwards, with a turnaround as fast as four hours for straightforward applications. Annual rates run from 5.5% to 13.5%, and the lender covers plant, machinery and vehicle finance for businesses of most sizes. Its speed suits companies that have already identified equipment and need to complete the purchase quickly.
Best next step: Check Admiral Leasing equipment finance terms.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding in as little as 4 hours
- Annual rates from 5.5%
- Covers most equipment types
Need to know
- Rates can reach 13.5% annually
- Asset security is required
- Terms vary by equipment type
Expert take
A fast-moving equipment leasing provider that prioritises turnaround speed. For a £500,000 facility, the four-hour decision window helps secure time-sensitive equipment deals, and verifying the final annual rate upfront keeps cost comparisons accurate.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: As a high-street bank, Barclays brings familiar relationship-based lending to equipment finance, with facilities available from £1,000 to £25 million. Annual rates range from 8.5% to 14.9%, and the bank can fund within 24 hours for pre-approved customers. Expect fuller underwriting than alternative lenders, including affordability checks and possibly a personal guarantee for larger facilities.
Best next step: View Barclays asset finance options.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Bank-backed equipment finance
- Lends £1,000 to £25 million
- Annual rates from 8.5%
Need to know
- Bank underwriting can be slower
- Personal guarantee may apply
- Strong trading history expected
Expert take
A mainstream bank lender suited to established businesses that already hold a Barclays relationship. For a £500,000 equipment purchase, the bank's broad lending appetite and annual rate structure can work well — provided you can meet its credit and documentation standards.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance prices equipment facilities with annual rates starting at 8%, which sits at the lower end for asset-backed lending in the UK. The lender covers plant, machinery and vehicle finance from £15,000 to £5 million, with funding available within 24 hours once approved. Its specialist and acquisition finance tags suggest experience with more complex asset purchases.
Best next step: Review Acorn Business Finance equipment rates.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Annual rates from 8%
- Funds £15,000 to £5 million
- 24-hour funding turnaround
Need to know
- Rates can reach 15% annually
- Asset secures the finance
- Complex purchases get extra scrutiny
Expert take
A diversified finance broker that covers asset, acquisition and specialist lending. For a £500,000 equipment facility, the 8% entry rate is competitive in the annual-rate market — ideal for businesses that want a single provider for both vanilla and structured asset deals.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Propelling equipment finance from a £500 starting point, Propel Finance handles facilities across the spectrum with annual rates from 5% to 20%. Funding lands within two to five days, and the wide rate band means pricing rewards strong credit profiles. For established businesses, faster competitors may offer a sharper turnaround if speed is critical.
Best next step: Compare Propel Finance equipment finance terms.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funds from £500 upwards
- Annual rates from 5%
- 2-to-5-day funding window
Need to know
- Rates can go up to 20%
- Slower than some competitors
- Full asset valuation needed
Expert take
A volume asset finance provider with a broad rate band that rewards strong credit. For a £500,000 equipment purchase, the 5% entry rate is attractive, and confirming where the deal lands on the rate spectrum sharpens cost comparisons against fixed-rate competitors.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore writes asset finance from £1,000 to £10 million, covering equipment, vehicles and machinery with annual rates between 5% and 15%. Funding typically takes 48 hours, and the lender is known for working with SMEs that may not fit strict high-street criteria. Its broad lending band supports single-lender equipment purchases across a wide range of asset values.
Best next step: See Aldermore asset finance rates.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5%
- Lends £1,000 to £10 million
- SME-friendly underwriting
Need to know
- 48-hour funding timeline
- Rates can reach 15%
- Asset serves as security
Expert take
A challenger bank with a strong SME asset finance book, comfortable with credits that high-street banks decline. For a £500,000 equipment purchase, Aldermore's blend of competitive entry rates and flexible underwriting can suit growing mid-market firms that need a pragmatic lender.
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: For mid-market businesses in transport, manufacturing or construction, Close Brothers brings sector-specific equipment finance with bespoke monthly rates from 3.5%. The lender expects £500,000-plus turnover and can fund within 24 hours, stretching to £100 million for the largest asset purchases. Its deep sector knowledge shapes everything from pricing to structure.
Best next step: Explore Close Brothers bespoke equipment finance.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Bespoke monthly rates from 3.5%
- Lends £25,000 to £100 million
- Deep sector expertise
Need to know
- Monthly rates can hit 10%
- £500k+ turnover expected
- Bespoke pricing needs negotiation
Expert take
A mid-market specialist with genuine sector depth in transport, manufacturing and construction. For a £500,000 equipment purchase, Close Brothers' bespoke pricing model rewards well-documented businesses — the monthly rate structure suits firms that benchmark against other monthly-rate lenders.
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How £500,000 equipment finance is secured and structured
At this level, lenders secure the facility against the equipment itself. The asset acts as collateral, which means the lender can repossess it if your business defaults. Loan-to-value ratios vary. Propel Finance and Aldermore Asset Finance both publish LTVs up to 100%, meaning they may fund the full purchase price. Reward Funding caps its LTV at 85%, so you would need a deposit or part-exchange to cover the remaining 15%. Close Brothers sits at 90%.
Your business repays in fixed monthly instalments over an agreed term. Aldermore and Close Brothers offer terms up to 7 years. Liberty Leasing caps at 5 years. A longer term reduces monthly payments but increases total interest cost. At £500,000, even a small rate difference has a material impact.
Most lenders also require a personal guarantee from directors at this level. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all list personal guarantees as required on their asset finance facilities.
What assets businesses typically finance at the £500,000 level
£500,000 opens up a broad range of equipment types. Manufacturing businesses often use this amount for CNC machinery, production lines, or industrial automation. Construction firms typically finance excavators, large plant, or multiple vehicles at this scale. Logistics companies may fund a fleet of HGVs or warehouse handling equipment. Print businesses, engineering firms, and food processors also regularly use equipment finance at this level.
Lenders assess the asset's resale value and useful life when underwriting. Hard assets with strong secondary markets, like construction plant, commercial vehicles, or standard manufacturing kit, tend to attract keener rates. Specialist or bespoke equipment with limited resale value may push rates higher or reduce the LTV offered.
Several lenders on this list cater to facilities well above £500,000. Close Brothers publishes a maximum of £100,000,000. Barclays goes to £25,000,000 and Aldermore to £10,000,000. Reward Funding, Lombard, Time Finance and Acorn Business Finance all cap at £5,000,000, comfortably accommodating a £500,000 request.
Eligibility criteria lenders look for on £500,000 equipment deals
For a facility of this size, lenders look beyond basic trading history. Turnover thresholds and time in business become key filters. The table below shows how minimum requirements differ across selected lenders on this list.
| Lender | Minimum turnover | Minimum trading history |
|---|---|---|
| Close Brothers | £500,000 | 1 year |
| Lombard | £25,000 | 1 year |
| Aldermore Asset Finance | No minimum | 6 months |
These differences matter. A business turning over £200,000 might not meet Close Brothers' threshold but could fit Lombard or Aldermore. Your accountant-prepared financials and bank statements face closer scrutiny at this level than for smaller deals. Lenders focus on whether the equipment generates enough value to cover repayments and whether your business has sufficient free cash flow after existing commitments. Credit history matters less than asset quality and affordability at this ticket size.
Lease versus hire purchase for £500,000 equipment finance
At £500,000, the choice between a finance lease and hire purchase has significant tax and balance sheet implications.
With hire purchase, your business owns the asset at the end of the term after making all payments plus a small option-to-purchase fee. You claim capital allowances on the full asset value and can deduct interest costs. HP suits businesses that want long-term ownership of core operational equipment.
A finance lease keeps the asset off your balance sheet. The leasing company retains ownership and you pay rentals for use of the equipment. Rentals are typically fully tax-deductible as an operating expense. At the end of the lease, you either return the asset, extend the lease, or sell it on the lessor's behalf and keep a share of the proceeds.
Many lenders on this list offer both structures. Liberty Leasing, Admiral Leasing, and Aldermore all provide lease and HP options. The right choice depends on whether ownership or flexibility matters more for your business. At this level, speak to your accountant about VAT treatment and capital allowance position before deciding.
