Top 10 £550,000 Machinery Finance Lenders for UK Businesses 2026
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Compare the top 10 lenders for £550,000 machinery finance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Manufacturers funding heavy production machinery with flexible monthly terms | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Established businesses wanting clear annual-rate machinery finance | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Businesses seeking bank-backed asset finance for major equipment purchases | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Growing firms funding machinery with transparent annual interest pricing | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Businesses needing rapid equipment leasing decisions across machinery types | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Firms preferring high-street bank backing for large machinery investments | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-market manufacturers funding specialist production line equipment | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Businesses seeking flexible asset finance from small to large machinery | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Companies at any stage funding machinery with broad lender appetite | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Established operators funding major machinery through bespoke-rate facilities | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets businesses spread the cost of machinery over time rather than paying upfront. The machinery itself acts as security, which can make approval more straightforward and help keep rates lower than unsecured borrowing. For UK businesses investing around £550,000 in equipment, this structure preserves working capital while funding essential production assets.
Comparing machinery finance lenders goes beyond the headline rate. Look at whether repayments are structured monthly or annually, the total cost over the full term, and any fees for early settlement. Deposit requirements can vary between 10% and 30%, which affects upfront cash flow. For a £550,000 facility, also check whether the lender funds the full invoice amount or expects a contribution.
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 from £100,000 to £5,000,000, covering larger machinery acquisitions with flexible drawdowns that adapt as equipment needs change. Monthly rates start at 0.99%. Expect security and valuation requirements as part of the process.
Best next step: Compare machinery finance rates for £550,000
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Flexible drawdowns match equipment purchase schedules
- Rates from 0.99% monthly on secured facilities
- Handles large-ticket machinery up to £5 million
Need to know
- Security and asset valuations usually required
- Costs can increase with higher facility usage
- Tied to specific machinery or equipment assets
Expert take
A secured-asset lender built for mid-to-large facilities. For a £550,000 machinery deal, Reward's drawdown structure works well if you are phasing equipment purchases across months rather than acquiring everything at once.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: A 24-hour decision on machinery finance can make the difference between securing equipment and losing it to another buyer. Liberty Leasing funds from £10,000 to £2,000,000 across asset types, with annual rates between 11% and 16%. The asset itself secures the borrowing, so deposits or valuations may be required.
Best next step: Get a quick machinery finance decision
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Fast 24-hour decisions for urgent machinery purchases
- Covers diverse equipment types and vehicle assets
- Asset-secured lending preserves working capital
Need to know
- Deposits or asset valuations may be needed
- Annual rates sit between 11% and 16%
- Asset eligibility checks apply to all facilities
Expert take
A straightforward asset finance provider with quick turnaround. For machinery at £550,000, Liberty suits businesses that have already identified the equipment and need certainty fast to secure the purchase with the supplier.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard's asset finance rates start at 4% monthly, which can keep the cost of a large machinery facility more predictable over the term. It lends up to £5,000,000 and funds within 24 hours, so the timeline rarely delays a purchase. The asset secures the borrowing, meaning deposits or valuations may form part of the approval.
Best next step: Explore Lombard machinery finance rates
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Competitive monthly rates from 4% on asset finance
- Up to £5 million facility for large machinery
- 24-hour funding keeps equipment purchases on track
Need to know
- Asset security and valuations may be required
- Deposits often needed on large machinery deals
- Eligibility depends on asset type and condition
Expert take
A long-established asset finance name with competitive rate structures. A £550,000 machinery facility fits their mid-to-large deal appetite, and the 24-hour turnaround helps when the equipment supplier sets a tight deadline.
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-backed facilities up to £5,000,000, which helps if machinery purchases run alongside broader working-capital needs. Annual rates run from 5.5% to 13.5% and decisions come within 24 hours. The asset-lending element means security and eligibility checks apply.
Best next step: See Time Finance asset finance options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combines asset and invoice finance under one roof
- Up to £5 million for machinery and working capital
- 24-hour decisions on secured facilities
Need to know
- Asset security and eligibility checks required
- Costs may rise with higher facility usage
- Invoice quality affects overall facility terms
Expert take
A hybrid lender blending asset and invoice finance. For a £550,000 machinery purchase, Time Finance works best when the business also carries unpaid B2B invoices and wants a single facility covering both equipment and cash flow.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Equipment finance that scales from a £1,000 starter asset to a major machinery line means you are not locked into a narrow range. Admiral Leasing funds across that spectrum with annual rates from 5.5% to 13.5% and decisions in as little as four hours. Stronger trading history and personal guarantees may be requested on higher-value deals.
Best next step: Check Admiral Leasing eligibility
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding from £1,000 to large machinery purchases
- Rates from 5.5% annually on equipment finance
- Decisions in as little as four hours
Need to know
- Personal guarantees may be requested
- Strong trading history often expected
- Security and legal costs can apply
Expert take
A flexible equipment finance house with a broad range. For a £550,000 machinery deal, Admiral's four-hour decision speed stands out, and businesses with solid trading history and willingness to provide guarantees will find the process smoother.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays writes bank-backed asset finance from £1,000 to £25,000,000. Annual rates sit between 8.5% and 14.9%. Bank underwriting tends to be more thorough than alternative lenders, so the timeline can stretch while affordability and trading history are assessed.
Best next step: View Barclays asset finance options
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Bank-backed lending up to £25 million
- Broad asset finance for machinery and equipment
- Established brand with mainstream recognition
Need to know
- Bank underwriting can be slower and stricter
- Strong trading history typically required
- Security and legal costs may apply
Expert take
A high-street bank with substantial asset finance capacity. For a £550,000 machinery purchase, Barclays suits established businesses that can meet thorough affordability checks and are not in a rush to complete.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: From £15,000 to £5,000,000, Acorn Business Finance covers asset finance with additional options in revolving credit and acquisition funding. Annual rates range from 8% to 15%. This breadth helps if machinery purchases sit within a wider growth or buyout strategy.
Best next step: Compare Acorn asset finance deals
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Asset finance from £15,000 to £5 million
- Also offers revolving credit and acquisition finance
- Annual rates from 8% on asset-backed facilities
Need to know
- Security and legal costs may apply
- Strong affordability evidence often required
- Personal guarantees may be requested
Expert take
A multi-product finance house with good range. For a £550,000 machinery investment, Acorn's wider product set helps if the equipment is tied to a broader acquisition or growth strategy rather than a standalone purchase.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Propel Finance funds machinery from £500 upwards, with annual rates spanning 5% to 20%. The wide rate band means pricing depends heavily on asset quality, trading history and deal structure. Funding typically takes two to five days, which is slightly slower than some competitors but still workable for planned equipment upgrades.
Best next step: Explore Propel machinery finance
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Starts from just £500 for smaller equipment
- Annual rates as low as 5% on well-structured deals
- Asset-secured lending across machinery types
Need to know
- Funding takes two to five days on average
- Rate depends on asset quality and history
- Deposits and valuations may be needed
Expert take
A volume-focused asset finance provider with a wide rate spread. For a £550,000 machinery facility, strong financials and quality assets can push pricing towards the 5% lower end, making thorough preparation worthwhile.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: For SMEs that need asset finance with room to grow, Aldermore's £1,000 to £10,000,000 range spans small kit to heavy machinery. Annual rates sit between 5% and 15% and funding takes around 48 hours. Asset eligibility checks form part of the approval process.
Best next step: Check Aldermore asset finance rates
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Lends from £1,000 to £10 million
- Annual rates from 5% on asset finance
- SME-focused with broad machinery coverage
Need to know
- Funding takes approximately 48 hours
- Asset eligibility checks are part of approval
- Product fit needs confirming for each deal
Expert take
An SME-focused lender with a wide asset finance envelope. For a £550,000 machinery purchase, Aldermore's middle-ground positioning works when you need a balance of competitive pricing and reasonable turnaround without the strictness of bank underwriting.
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 operates at the upper end of UK asset finance, lending from £25,000 to £100,000,000 with bespoke rates from 3.5% monthly. It serves established mid-market businesses, particularly in transport, manufacturing and construction where large machinery investments are routine. Underwriting is thorough and geared towards experienced operators.
Best next step: See Close Brothers machinery finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £100 million for major investments
- Bespoke rates from 3.5% monthly
- Deep expertise in manufacturing and construction
Need to know
- Minimum facility of £25,000 applies
- Geared to businesses with £500k+ turnover
- Thorough underwriting expects experienced operators
Expert take
A heavyweight asset finance lender built for mid-market companies. For a £550,000 machinery investment in manufacturing or construction, Close Brothers brings sector-specific underwriting and competitive bespoke pricing that rewards established, well-run businesses.
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How asset finance works for a £550,000 machinery purchase
Asset finance lets your business use the machinery while spreading the cost over time. For a £550,000 purchase, this typically means a lease or hire purchase arrangement. With hire purchase, you own the asset after the final payment. With a lease, the lender retains ownership and you return the equipment or extend the agreement at the end of the term.
The lender pays the equipment supplier directly. Your business then makes fixed monthly or quarterly payments. At £550,000, most lenders will require a personal guarantee from directors. Several lenders on this list, including Reward Funding, Liberty Leasing, Aldermore and Close Brothers, do not require homeownership as security, though a personal guarantee is standard.
The machinery itself acts as the primary security. If payments stop, the lender can recover the equipment. This keeps rates more competitive than unsecured borrowing for the same amount.
Deposit requirements and LTV on £550,000 machinery finance
Lenders rarely finance 100% of a machinery purchase. Most expect a deposit, typically 10% to 20% of the equipment value. For a £550,000 machine, that means your business may need to put down £55,000 to £110,000 upfront.
The loan-to-value ratio tells you how much of the purchase price a lender will cover. Reward Funding publishes a maximum LTV of 85%, so you would need at least £82,500 as a deposit on a £550,000 asset. Close Brothers caps LTV at 90%, requiring a £55,000 deposit.
A few lenders offer 100% LTV in certain circumstances. Both Propel Finance and Aldermore publish up to 100% LTV on asset finance, meaning you could potentially fund the full £550,000 without a deposit. This depends on the equipment type, its resale value, and your business profile. A higher deposit usually secures a lower rate because the lender takes on less risk.
Comparing repayment terms and rates for machinery finance at £550,000
Repayment terms vary significantly across lenders, and getting the right structure matters on a £550,000 facility. Shorter terms mean higher monthly payments but lower total interest. Longer terms reduce monthly outgoings but increase the overall cost.
| Lender | Typical rate | Maximum term |
|---|---|---|
| Reward Funding | 0.99% to 3% monthly | 1 year |
| Close Brothers | 3.5% to 10% monthly | 7 years |
| Aldermore | 5% to 15% annually | 7 years |
| Liberty Leasing | 11% to 16% annually | 5 years |
| Barclays | 8.5% to 14.9% annually | 25 years |
Monthly-rate lenders like Reward Funding and Close Brothers tend to suit businesses wanting shorter, more intensive repayment periods. Annual-rate lenders such as Aldermore, Barclays, and Liberty Leasing offer terms from five to 25 years, spreading the cost more thinly across the life of the equipment.
What to check when choosing a lender for £550,000 machinery finance
Not every lender on this list suits every business. Comparing beyond the headline rate matters at this level of borrowing.
Start with the rate type. Monthly rates look small but compound quickly. Reward Funding quotes 0.99% to 3% per month, while Aldermore publishes 5% to 15% per year. These are not directly comparable. Always ask for the total cost of credit over the full term.
Check turnover and trading history requirements. Lombard requires at least £25,000 turnover and one year of trading. Close Brothers sets the bar at £500,000 turnover. Aldermore accepts businesses with six months of trading and no minimum turnover, suiting younger firms.
Personal guarantees are standard. Reward Funding, Liberty Leasing, Aldermore, Close Brothers, and Time Finance all require them. None of these lenders require homeownership, keeping your property separate from the agreement.
Finally, check whether the lender specialises in your equipment type. Some funders prefer mainstream assets with strong resale values. Others accept specialist machinery. Matching lender to asset improves your chances of approval and a competitive rate.
