Top 10 £550,000 Equipment Finance Lenders in the UK for 2026
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Top £550,000 equipment finance lenders compared
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | High-value equipment purchases benefiting from competitive monthly pricing | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Straightforward annual-rate funding for mid-to-large equipment acquisitions | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established limited companies funding substantial plant and machinery | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Growing businesses requiring clear annual rates on large equipment deals | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Fast-turnaround equipment leasing for urgent asset finance requirements | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Bank-backed funding for major equipment purchases with broad lending headroom | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Specialist broker-led asset finance for tailored equipment funding | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Flexible equipment finance from modest assets to large-scale machinery | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Accessible asset finance for businesses with shorter trading histories | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | High-turnover firms funding heavy equipment through bespoke monthly plans | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets businesses acquire essential equipment by spreading the cost over time through hire purchase or leasing agreements. For established UK businesses, this approach preserves working capital while securing the machinery, vehicles or technology needed to grow. At the £550,000 level, asset finance typically supports significant investments such as manufacturing plant, commercial vehicle fleets or specialist medical equipment.
Choosing the right asset finance lender requires looking beyond the headline rate. Repayment structure matters because some lenders quote monthly rates while others use annual terms, which affects total cost. The lender's experience with your equipment type and sector can influence how they structure the deal. For a £550,000 facility, also compare flexibility around seasonal payments, early settlement terms and whether the lender offers both hire purchase and lease options.
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 lends from £100,000 to £5 million, giving a £550,000 equipment purchase plenty of headroom for future additions. It funds heavy machinery, commercial vehicles and production lines through asset-backed agreements, and a revolving credit structure means you can draw again as equipment needs evolve. Valuation and legal costs apply.
Best next step: Check eligibility for revolving asset facilities.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving credit for repeat purchases
- Funds up to £5 million
- Flexible drawdown structure
Need to know
- Asset security required
- Valuation costs may apply
- Limits can be reviewed
Expert take
A well-established asset lender with a revolving model that suits growing businesses. For a £550,000 equipment purchase, the flexible drawdown structure works well if you plan staged or repeat acquisitions.
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 prices equipment finance from 11% to 16% annually, with funding decisions typically within 24 hours. It covers assets from vehicles to machinery across a £10,000 to £2 million range. The asset itself secures the agreement, preserving your cash for other business needs. Deposit or valuation requirements may apply.
Best next step: Compare annual-rate asset finance terms.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual interest from 11%
- Same-day funding decisions
- Asset secures the agreement
Need to know
- Deposits may be needed
- Asset eligibility checks apply
- Rates depend on asset type
Expert take
A straightforward asset finance provider that prices transparently with annual rates. For a £550,000 equipment deal, the 24-hour decision turnaround keeps procurement timelines tight and predictable.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard ranks among the most recognised names in UK asset finance, funding machinery and vehicles up to £5 million. Monthly rates start from 4%, and lending decisions often come within 24 hours. For a £550,000 equipment purchase, its experience in heavy industry and transport sectors adds confidence to the underwriting process. Asset security and valuation requirements are standard.
Best next step: Explore Lombard's asset finance rates.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 4% monthly
- Up to £5 million funding
- Established UK asset lender
Need to know
- Monthly rate structure
- Asset eligibility required
- Valuations may apply
Expert take
A household name in UK asset finance with deep experience across heavy equipment sectors. At £550,000, its low-end monthly rates and broad asset appetite make it a strong contender for machinery and plant 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: Time Finance blends asset and invoice-backed facilities, giving businesses a dual funding structure up to £5 million. For a company purchasing £550,000 of equipment, unpaid B2B invoices can support repayments alongside the asset itself. Annual rates start from 5.5%, and flexible drawdown suits firms with seasonal or project-based revenue. Debtor quality and asset type influence terms.
Best next step: Check combined asset and invoice finance options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5.5%
- Combines asset and invoice finance
- Flexible drawdown for seasonal firms
Need to know
- Debtor quality affects terms
- Asset eligibility checks apply
- Limits can be reviewed
Expert take
A hybrid lender blending invoice and asset finance under one roof. For a £550,000 equipment purchase, the combined structure works well for B2B firms with strong receivables that want working capital flexibility alongside asset funding.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Admiral Leasing turns around equipment finance decisions in as little as four hours, making it one of the quicker options for a £550,000 purchase. It prices from 5.5% annually and funds assets from £1,000 upwards. The speed suits businesses that have identified equipment and need to move before stock or pricing changes. Strong trading history and affordability evidence may be required.
Best next step: Get a decision within hours.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Decisions in 4 hours
- Annual rates from 5.5%
- Funds from £1,000
Need to know
- Trading history expected
- Affordability evidence needed
- Personal guarantee possible
Expert take
A rapid-decision asset funder that prioritises speed without sacrificing rate competitiveness. For a £550,000 equipment deal, the four-hour turnaround helps when procurement deadlines are tight and equipment availability is uncertain.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays funds equipment purchases through bank-grade asset finance, covering £1,000 to £25 million. For an established business financing £550,000 of machinery or vehicles, annual rates from 8.5% reflect mainstream lending economics. Its broad product coverage means you can bundle asset finance with other facilities. Bank underwriting can be more thorough than alternative lenders.
Best next step: Compare Barclays asset finance rates.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Bank-backed lending
- Facilities up to £25 million
- Bundle with other bank products
Need to know
- Slower bank underwriting
- Trading history required
- Personal guarantee possible
Expert take
A high-street bank with deep asset finance capability and enormous facility headroom. For a £550,000 equipment purchase, Barclays suits established firms wanting mainstream rates and the option to consolidate lending under one banking relationship.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance funds equipment from £15,000 to £5 million, with annual rates between 8% and 15%. It covers machinery, vehicles and production kit, plus specialist areas like acquisition and premium finance. For a £550,000 purchase, its product breadth avoids a one-size-fits-all structure. Affordability evidence and trading history will be assessed.
Best next step: Explore specialist asset finance options.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Annual rates from 8%
- Specialist finance options available
- Funds up to £5 million
Need to know
- Trading history assessed
- Affordability evidence needed
- Asset eligibility applies
Expert take
A versatile asset finance provider with specialist lines beyond standard equipment funding. For a £550,000 purchase, Acorn's product range gives structuring flexibility that can match complex or multi-asset deals.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: With annual rates from 5% and a low entry point of £500, Propel Finance handles equipment purchases of all sizes. Funding typically completes within two to five days. For a £550,000 investment, its broad asset appetite means varied equipment classes and business profiles are considered. Deposit and valuation requirements apply.
Best next step: Check Propel's asset finance terms.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Rates from 5% annually
- Funds from £500
- Broad asset appetite
Need to know
- Two to five day funding
- Valuation may be needed
- Asset eligibility checks
Expert take
A volume-focused asset funder with a wide rate band reflecting diverse credit and asset risk. For £550,000 of equipment, Propel suits businesses that value broad asset acceptance and can work within a two-to-five-day completion window.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: From £1,000 to £10 million, Aldermore covers a broad equipment finance range with annual rates between 5% and 15%. Typical turnaround runs to 48 hours. As an SME-focused lender, it understands the cash-flow dynamics of mid-market equipment investment. Product fit should be confirmed early in the process.
Best next step: Review Aldermore's SME asset finance.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 5% annually
- Up to £10 million funding
- SME-focused lending approach
Need to know
- 48-hour typical turnaround
- Product fit to confirm
- Asset eligibility applies
Expert take
An SME-specialist lender with significant facility headroom and competitive starting rates. For a £550,000 equipment investment, Aldermore's mid-market focus means your business profile is likely to align well with its 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: Close Brothers lends from £25,000 to £100 million through bespoke monthly-rate agreements, with particular strength in transport, manufacturing and construction. For a £550,000 equipment purchase, an established mid-market business with £500,000-plus turnover fits its core lending profile. Funding decisions typically complete within 24 hours. Asset security and detailed credit assessment are standard.
Best next step: Check Close Brothers sector-specific terms.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Bespoke monthly-rate pricing
- Sector expertise in manufacturing
- Facilities up to £100 million
Need to know
- £500k+ turnover expected
- Bespoke rate assessment
- Detailed credit review
Expert take
A heavyweight in UK asset finance with genuine sector depth in transport, manufacturing and construction. For a £550,000 equipment purchase, Close Brothers suits established mid-market firms that value a lender fluent in their industry.
Asset Finance Calculator
What equipment can you finance with £550,000?
At £550,000, equipment finance typically covers high-value business assets. Common purchases include heavy plant machinery, CNC and manufacturing equipment, commercial vehicle fleets, agricultural machinery, printing presses, and medical or dental imaging equipment. This level of funding also suits mid-sized construction assets such as excavators, telehandlers, and tipper trucks.
Lenders on this page offer facilities well above £550,000. Reward Funding goes up to £5 million, while Close Brothers can fund facilities up to £100 million. A £550,000 equipment purchase sits comfortably within most lenders' upper limits. The key is matching the asset type to a lender that understands your industry. Specialist funders often structure terms around the expected working life of the equipment, which can span 5 to 7 years for heavy machinery.
How asset finance works for a £550,000 equipment purchase
Asset finance at this level typically follows one of two structures: hire purchase or a finance lease. With hire purchase, your business pays fixed monthly instalments and owns the equipment at the end of the term. A finance lease keeps ownership with the lender, and you pay for the use of the asset over its working life.
For a £550,000 facility, lenders will often require a deposit, though loan-to-value ratios vary. Reward Funding offers up to 85% LTV, while Propel Finance and Aldermore can go to 100%. Most lenders on this list require a personal guarantee from directors, including Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers.
VAT treatment also matters. If you are VAT-registered, you can reclaim the VAT on the purchase price upfront, while the finance itself covers the net cost. Your accountant can advise on the best structure for your situation.
What rates and terms to expect on £550k equipment finance
Interest rates for £550,000 equipment finance vary widely by lender and asset type. From the lenders on this page, annual rates start around 5% and can reach 20% for higher-risk profiles. Propel Finance publishes rates from 5% to 20% annually, while Acorn Business Finance ranges from 8% to 15% annually. Liberty Leasing and Admiral Leasing both sit in the 5.5% to 13.5% annual range. Barclays publishes rates from 8.5% to 14.9% annually.
Some lenders quote monthly rates. Reward Funding publishes rates from 0.99% to 3% per month, while Lombard sits at 4% to 11.5% per month. Close Brothers uses bespoke pricing from 3.5% to 10% per month.
Term lengths typically run from 1 to 7 years. Aldermore and Close Brothers both offer terms from 1 to 7 years. For £550,000 of equipment, a 5-year term is common, spreading the cost while matching the asset's useful life.
Eligibility requirements for a £550,000 equipment finance application
For a £550,000 equipment finance application, lenders will assess your trading history, turnover, and asset backing. Most lenders on this page expect at least one year of trading. Lombard and Close Brothers both require a minimum of 12 months. Aldermore can consider businesses with just 6 months of trading history.
Turnover expectations vary. Close Brothers asks for at least £500,000 in annual turnover for larger facilities. Lombard requires £25,000 minimum, making it more accessible for smaller but established firms.
Personal guarantees are standard at this level. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all require a director's personal guarantee. None of the lenders with confirmed data require homeownership as a condition.
Your equipment itself acts as security, which is why asset finance is typically easier to secure than unsecured lending at this amount. Lenders will value the asset and may require a specialist survey for equipment of this value.
