Top 10 Lenders to Secure £650,000 Plant Finance in 2026
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Compare the top 10 UK plant finance lenders for £650,000
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established businesses needing plant finance above £100,000 | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Firms comparing annual-rate options for plant acquisitions | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Mid-to-large firms funding specialist plant and heavy machinery | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Businesses seeking annual-rate plant finance for equipment purchases | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Firms with smaller equipment needs seeking competitive plant rates | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Larger operators preferring bank-backed plant and machinery finance | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-market businesses financing plant from £15,000 upwards | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Businesses funding diverse plant equipment types at varied values | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Firms seeking flexible high-value plant finance eligibility | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Well-established larger firms purchasing major plant and machinery | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets a business acquire plant and machinery without paying the full cost upfront. A lender buys the equipment and the business repays the cost plus interest over a fixed term, typically through lease or hire purchase. For plant machinery — excavators, crushers, telehandlers and manufacturing equipment — asset finance works well because the equipment itself secures the borrowing. At £650,000, this funds substantial heavy plant that would otherwise tie up working capital.
Comparing plant finance lenders at this level goes beyond headline rates. Look at whether the lender quotes monthly or annual interest — the difference can be significant on a £650,000 facility. Check the lender's experience with heavy plant valuation, as specialist knowledge often leads to more accurate asset appraisals and better terms. Repayment flexibility matters too, especially if your plant generates seasonal income. Also consider whether the lender caps facilities at an amount that comfortably accommodates your equipment purchase.
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 plant machinery finance with a facility ceiling of £5 million and monthly interest from 0.99% to 3%. Funding decisions typically land within 24 hours. Security is required, and valuation or legal costs may apply.
Best next step: Check eligibility for plant finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facility range up to £5 million
- Same-day funding decisions available
- Monthly interest from 0.99%
Need to know
- Security or asset backing required
- Valuation and legal costs may apply
- Asset eligibility checks are standard
Expert take
A direct lender that scales well for mid-to-large plant deals. For a £650,000 plant acquisition, the monthly rate structure and quick turnaround work in your favour.
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 quotes annual interest from 11% to 16% for plant and machinery finance at this level, making long-term cost planning straightforward. They fund amounts from £10,000 up to £2 million and can turn decisions around within 24 hours. Asset eligibility checks and possible deposits apply.
Best next step: Compare plant finance rates
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 11% to 16%
- Up to £2 million facility size
- 24-hour funding turnaround
Need to know
- Asset valuation typically required
- Deposit may be needed
- Tied to specific plant assets
Expert take
A straightforward asset funder that works well for plant purchases where the machinery holds strong resale value. The annual rate structure suits businesses wanting predictable long-term costs.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard is one of the UK's longest-standing asset finance names, funding plant and equipment up to £5 million. For a £650,000 machinery acquisition, their monthly interest range of 4% to 11.5% reflects the deal's asset quality and business profile. Decisions can arrive within 24 hours, though deposits and valuations are standard.
Best next step: Explore Lombard plant finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facility limit up to £5 million
- Decades of plant finance experience
- 24-hour decision speed
Need to know
- Monthly interest from 4% to 11.5%
- Deposits and valuations are standard
- Asset must meet eligibility requirements
Expert take
A household name in UK asset finance with deep experience in plant and machinery. The £5 million ceiling and quick decisions make this a credible route for six-figure equipment deals.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: For businesses funding £650,000 in plant machinery, Time Finance brings both asset finance and invoice finance under one roof, with facilities reaching £5 million. Annual interest runs from 5.5% to 13.5%, and decisions typically come through within 24 hours. Funding is tied to specific assets or receivable quality, so eligibility checks apply.
Best next step: Check Time Finance options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combined asset and invoice finance
- Up to £5 million facility size
- 24-hour decision turnaround
Need to know
- Annual rates from 5.5% to 13.5%
- Tied to asset or invoice quality
- Deposits or valuations may apply
Expert take
A flexible funder that can structure plant deals through asset finance or free up working capital via invoice discounting. The dual-product model suits businesses managing 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: Admiral Leasing can fund equipment from £1,000 upwards, with decisions landing in as little as 4 hours. For a £650,000 plant finance requirement, their annual interest rates range from 5.5% to 13.5%. A strong trading history, affordability evidence, and a personal guarantee may be needed to secure terms at this level.
Best next step: See Admiral leasing options
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding decisions in 4 hours
- Annual rates from 5.5%
- Equipment leasing from £1,000
Need to know
- Personal guarantee may be required
- Strong trading history expected
- Affordability evidence needed
Expert take
A fast-moving equipment lessor whose 4-hour decision speed stands out. For plant finance at £650,000, expect thorough credit scrutiny alongside that rapid response.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays brings bank-grade asset finance with facility limits reaching £25 million, suiting established businesses funding £650,000 in plant machinery. Annual interest runs from 8.5% to 14.9%. Underwriting tends to be more thorough than alternative lenders, and a strong trading record with affordability evidence is expected.
Best next step: Explore Barclays asset finance
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Facility limit up to £25 million
- Full banking relationship available
- Annual rates from 8.5%
Need to know
- Bank underwriting is thorough
- Strong trading history required
- Personal guarantee may apply
Expert take
A mainstream bank with enormous capacity for plant finance. The trade-off is slower, more rigorous underwriting, but the relationship benefits can extend well beyond the equipment itself.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Asset finance from £15,000 to £5 million is Acorn Business Finance's range, covering plant and specialist equipment. For a £650,000 acquisition, annual rates run from 8% to 15%, with decisions typically within 24 hours. Asset eligibility checks and a possible personal guarantee apply.
Best next step: See Acorn plant finance
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Up to £5 million facility size
- Covers specialist equipment types
- 24-hour funding decision
Need to know
- Annual rates from 8% to 15%
- Personal guarantee may be required
- Asset eligibility checks apply
Expert take
A wide-ranging asset finance broker with access to multiple funders. For plant machinery at £650,000, their coverage of specialist equipment types is a practical advantage.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: With a minimum deal size of just £500, Propel Finance funds plant acquisitions large and small. Annual rates range from 5% to 20%, and funding typically settles within 2 to 5 days. Asset valuation and possible deposits are part of the process.
Best next step: Check Propel plant rates
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
- Asset valuation required
- Deposit may be needed
- Rates vary widely by risk
Expert take
A volume asset funder with an unusually low minimum deal size. For £650,000 plant finance, the annual rate spread is wide, so strong asset quality will be key to landing at the lower end.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore Asset Finance covers facilities from £1,000 to £10 million, making larger plant investments straightforward to accommodate. Annual interest runs from 5% to 15%, with funding decisions typically within 48 hours. Standard asset and business credit checks apply.
Best next step: Explore Aldermore options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facility range up to £10 million
- Annual rates from 5%
- 48-hour decision turnaround
Need to know
- Asset and credit checks apply
- Business profile assessed
- Deposit may be required
Expert take
A well-capitalised lender with a £10 million ceiling that dwarfs most plant finance needs. The 48-hour timeline is reasonable for the level of facility being considered.
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 specialises in mid-market lending, with asset finance facilities spanning £25,000 to £100 million. For plant machinery at £650,000, their bespoke monthly rates from 3.5% to 10% reflect deal-specific pricing. They are particularly active in transport, manufacturing and construction, suiting heavy plant acquisitions.
Best next step: See Close Brothers plant finance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facility ceiling of £100 million
- Mid-market and construction focus
- Bespoke pricing per deal
Need to know
- £500k+ turnover typically expected
- Monthly rates from 3.5% to 10%
- Bespoke underwriting applies
Expert take
A mid-market heavyweight with genuine expertise in manufacturing and construction plant. The bespoke pricing model rewards well-structured deals with competitive rates.
Asset Finance Calculator
How plant finance works for a £650,000 asset purchase
A £650,000 plant finance facility typically sits within the mid-to-high-value asset bracket, where lenders offer both hire purchase (HP) and finance lease structures. With HP, your business spreads the cost of the machinery over an agreed term and owns the asset outright once the final payment is made. This suits plant with a long operational life, such as excavators, crushers, or heavy manufacturing equipment.
A finance lease, by contrast, keeps the asset off your balance sheet. You pay fixed rentals over the working life of the plant, and the leasing company retains ownership. This can improve accounting ratios and is common where equipment is upgraded every few years.
At this level, lenders may also offer sale and leaseback, unlocking capital from plant you already own. Close Brothers can fund up to £100 million, and Lombard offers facilities up to £5 million, so a £650,000 request sits comfortably within mainstream high-value asset finance parameters.
What lenders look for when approving £650,000 plant finance
Lenders assessing a £650,000 plant finance application typically focus on three areas: asset quality, trading history, and turnover.
The plant itself forms the primary security. Lenders will check that the equipment holds strong resale value and has a clear secondary market. Heavy plant such as dozers, telehandlers, and CNC machinery tends to be viewed more favourably than bespoke or niche equipment.
On trading history, Aldermore Asset Finance accepts businesses with as little as six months behind them, while Lombard and Close Brothers both require at least one year. Turnover thresholds vary widely: Lombard asks for a minimum of £25,000, whereas Close Brothers sets the bar at £500,000, reflecting its focus on larger borrowers.
Lenders also review your existing asset base and any outstanding finance agreements. A clean credit profile and strong management accounts will strengthen your application at this ticket size.
Comparing rates and terms for high-value plant finance
Rates on £650,000 plant finance facilities fall into two broad structures. Monthly-rate lenders include Reward Funding, which publishes rates from 0.99% to 3% per month, Lombard at 4% to 11.5% per month, and Close Brothers at 3.5% to 10% per month. Annual-rate lenders include Time Finance at 5.5% to 13.5% annually, Aldermore Asset Finance at 5% to 15% annually, and Barclays at 8.5% to 14.9% annually.
The rate you receive depends on the asset type, your business credit profile, and the term length. Longer terms can reduce monthly outgoings but increase total interest paid. Terms on the panel range from as short as three months with Reward Funding and Acorn Business Finance, up to seven years with Aldermore and Admiral Leasing.
At this loan size, arranging fees and documentation charges may apply. Always compare the total cost of finance, not just the headline rate.
Deposits, security and personal guarantees for £650,000 plant finance
Most plant finance agreements at the £650,000 level require some form of deposit, though lender loan-to-value (LTV) caps vary. Propel Finance and Aldermore Asset Finance both publish LTVs of up to 100%, meaning the lender could finance the full asset cost. Reward Funding caps LTV at 85%, while Close Brothers extends to 90%, so a deposit of £97,500 to £130,000 may be needed depending on your chosen provider.
Personal guarantees are common on asset finance of this size. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all require a director's personal guarantee. This gives the lender recourse beyond the asset itself and is standard practice for high-value plant finance in the UK market.
The asset you are purchasing acts as the primary security. If your business cannot meet repayments, the lender can repossess and sell the plant. Choosing equipment from a recognised manufacturer with strong residual values will improve your terms.
