Top 10 Lenders to Secure £700,000 Haulage Finance in 2026
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Top 10 Lenders for £700,000 Haulage Finance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Large-scale HGV fleet expansion with competitive monthly rates | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Mid-sized hauliers seeking annual-rate asset finance up to £2m | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established transport firms needing flexible asset funding up to £5m | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Haulage businesses funding trailers and specialist vehicles up to £5m | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Smaller transport operators starting fleet build from £1,000 | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Haulage companies wanting bank-backed asset finance with wide reach | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Growing hauliers funding vehicle purchases from £15,000 | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Transport startups and small fleets needing accessible entry points | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Haulage firms needing asset finance from £1,000 to £10m | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Large transport fleets requiring bespoke finance up to £100m | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets haulage companies spread the cost of vehicles and equipment over time rather than paying upfront. The lender buys the asset and you repay in instalments. This works well for transport firms because HGVs, trailers and specialist vehicles carry high price tags that can strain cash flow. For a £700,000 purchase, asset finance preserves working capital while getting new fleet onto the road.
Comparing lenders goes beyond the headline rate. Look at the total cost over the agreement term, including any arrangement fees or balloon payments. Consider whether the lender understands haulage assets specifically, as vehicle depreciation and mileage affect residual value calculations. Check the flexibility around seasonal payments if your transport business has revenue peaks and troughs. Lenders also differ on vehicle age restrictions at the end of the agreement, which matters when financing a £700,000 fleet.
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: Rates from 0.99% monthly make Reward Funding one of the sharper-priced options for haulage firms financing HGVs, trailers or full fleet programmes. Facilities reach £5,000,000 with decisions typically landing within 24 hours. The trade-off is that larger facilities require suitable security and may involve legal or valuation costs.
Best next step: Compare Reward Funding's haulage asset finance rates.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 0.99% monthly
- Facilities up to £5,000,000
- Decisions within 24 hours
Need to know
- Asset security required
- Valuation costs may apply
- Deposits may be needed
Expert take
A rate-competitive funder geared toward larger secured facilities. For a £700,000 haulage requirement, the structure works well for mixed fleets where individual vehicles sit on separate schedules, keeping the overall facility clean and manageable.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Annual pricing sets Liberty Leasing apart from lenders that quote monthly rates, with costs falling between 11% and 16%. Facilities span £10,000 to £2,000,000 and funding lands within 24 hours. Haulage operators preserve working capital because borrowing is tied directly to each vehicle. Expect deposit requirements and asset eligibility checks.
Best next step: Check Liberty Leasing's annual rates for HGV finance.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 11% to 16%
- Funding within 24 hours
- Preserves operating cash flow
Need to know
- Deposits may be required
- Asset eligibility checks apply
- Tied to specific vehicles
Expert take
A straightforward asset funder with a simple annual pricing model. Liberty works best for haulage operators with modern, well-maintained fleets, as vehicle age and condition directly influence both the advance rate and the final interest charge.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: A 24-hour decision window means Lombard keeps pace with haulage operators who need to move quickly on fleet purchases. Facilities reach £5,000,000, with monthly rates between 4% and 11.5% shaped by vehicle age and type. Funding links directly to each HGV or trailer, creating predictable monthly repayments that suit transport budgeting cycles.
Best next step: Explore Lombard's HGV and trailer finance terms.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Decisions within 24 hours
- Up to £5,000,000 available
- Predictable monthly repayments
Need to know
- Rate depends on vehicle age
- Asset-linked funding only
- Deposits may apply
Expert take
A long-established name in UK asset finance with deep experience in commercial vehicles. Lombard underwrites haulage assets with genuine sector understanding, pricing newer units more aggressively and applying a premium to older fleet where residual values are harder to call.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Haulage firms running mixed fleets often carry unpaid invoices alongside vehicle finance needs. Time Finance addresses both, blending asset finance with invoice funding under a single facility capped at £5,000,000. Annual rates range from 5.5% to 13.5%. This dual approach suits transport operators managing seasonal cash-flow swings while investing in fleet.
Best next step: See Time Finance's combined asset and invoice funding.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Asset and invoice finance combined
- Annual rates from 5.5%
- Up to £5,000,000 facility limit
Need to know
- Debtor quality is assessed
- Limits can be reviewed
- Asset checks apply
Expert take
A versatile funder that understands how haulage cash flow works in practice. The invoice finance line can cover deposits or balloon payments while the asset side funds the vehicles, creating a joined-up structure that reflects how transport businesses actually operate.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Four hours. That is how quickly Admiral leasing can turn around a decision on vehicle and equipment finance, making it one of the fastest options for haulage operators. Annual rates sit between 5.5% and 13.5%, with funding available from £1,000 upwards. Speed like this matters when spot-market opportunities demand rapid fleet expansion.
Best next step: View Admiral leasing's fast vehicle finance.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Decisions in as little as 4 hours
- Annual rates from 5.5%
- Funds from £1,000 upwards
Need to know
- Trading history assessed
- Personal guarantee may apply
- Asset checks required
Expert take
A speed-first funder built for deals that cannot wait. In haulage, where a delayed vehicle purchase can mean a lost contract, Admiral's four-hour decision window gives operators genuine commercial advantage without sacrificing rate competitiveness.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays brings institutional firepower to haulage finance, funding single HGVs through to fleet-wide programmes up to £25,000,000. Annual rates range from 8.5% to 14.9%. Transport firms already banking with Barclays can layer asset finance alongside overdrafts, loans or commercial mortgages under one relationship, though underwriting is thorough and may take longer than alternative lenders.
Best next step: Compare Barclays haulage asset finance terms.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Broad product range available
- Up to £25,000,000 facility
- Single banking relationship
Need to know
- Longer underwriting process
- Strong trading history needed
- Personal guarantee may apply
Expert take
A high-street heavyweight with the balance sheet to back serious fleet investment. For haulage operators who value relationship banking, bundling asset finance with existing Barclays arrangements simplifies management and can unlock preferential terms across the full product set.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Whether funding a single trailer or refreshing an entire fleet, Acorn Business Finance writes asset facilities from £15,000 to £5,000,000 at annual rates between 8% and 15%. Decisions typically land within 24 hours. A quieter advantage for haulage firms is access to premium finance, turning chunky annual fleet insurance bills into manageable monthly payments.
Best next step: Review Acorn's fleet and trailer finance.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- £15,000 to £5,000,000 range
- Premium finance for insurance
- Revolving credit also available
Need to know
- Trading history assessed
- Personal guarantee may apply
- Security and valuations needed
Expert take
A multi-product lender that wraps several funding needs into one conversation. The premium finance option is genuinely useful for haulage firms, converting a large annual insurance cost into predictable monthly payments alongside vehicle finance.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: For clean-credit haulage operators, Propel Finance can price asset deals as low as 5% annually, with the rate band stretching to 20% for higher-risk fleet profiles. Facilities start from just £500 and funding completes within two to five days. This lender suits planned fleet purchases rather than urgent replacements, rewarding well-maintained modern vehicles with sharper pricing.
Best next step: Check Propel Finance rates for HGV purchases.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Rates from 5% annually
- Entry point from £500
- Rewards modern fleet profiles
Need to know
- Funding takes 2 to 5 days
- Rate depends on fleet age
- Asset eligibility checks apply
Expert take
A volume-focused funder where clean credit and young fleet age unlock the best pricing. Propel suits haulage operators who can wait a few days for completion and whose fleet profile supports the most competitive end of the rate band.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Between rapid funders and slow banks sits Aldermore Asset finance, turning decisions around in 48 hours while funding facilities from £1,000 to £10,000,000. Annual rates range from 5% to 15%. This breadth means a single funding relationship can handle everything from a replacement rigid truck to a multi-million-pound fleet programme as the haulage business grows.
Best next step: Explore Aldermore's haulage finance range.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- £1,000 to £10,000,000 range
- 48-hour decision turnaround
- Annual rates from 5%
Need to know
- Asset eligibility checks apply
- Trading history assessed
- Deposits may be required
Expert take
A well-established challenger bank with genuine appetite for transport assets. Aldermore's wide facility range removes the need to switch lenders as a haulage firm grows, keeping the funding relationship consistent from first truck to full fleet.
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 knows transport. The lender actively targets mid-market haulage firms with turnover above £500,000, funding facilities from £25,000 to £100,000,000 at bespoke monthly rates between 3.5% and 10%. Underwriters here understand fleet-heavy balance sheets without lengthy explanation, valuing contract quality and vehicle utilisation as much as the numbers on the page.
Best next step: See Close Brothers' mid-market haulage terms.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Deep transport sector focus
- Up to £100,000,000 available
- Bespoke pricing from 3.5% monthly
Need to know
- £500,000 minimum turnover
- Established businesses only
- Bespoke underwriting applies
Expert take
A mid-market specialist that genuinely understands transport. Close Brothers assesses haulage firms on fleet utilisation and contract quality, not just balance-sheet ratios, making its underwriting particularly relevant for operators with solid trading histories.
Asset Finance Calculator
How asset finance works for HGVs, trailers, and fleet vehicles
For a £700,000 haulage finance facility, most UK transport companies use either hire purchase or a finance lease. With hire purchase, you pay a deposit and spread the remaining cost over an agreed term. You own the asset outright after the final payment. This suits operators who plan to run vehicles for their full working life.
A finance lease keeps monthly payments lower because you only pay for the portion of the asset you use. The lender retains ownership. At the end of the term, you typically sell the vehicle and keep a share of the proceeds or refinance into a new agreement. This structure works well for haulage firms who refresh their fleet every three to five years.
VAT treatment differs between the two. Under hire purchase, you reclaim VAT on the purchase price upfront. Under a lease, VAT is reclaimed on each rental payment as you go. Your accountant can advise which route suits your cash flow.
What lenders assess on a £700,000 haulage finance application
Most asset finance lenders serving the haulage sector will review your business trading history, turnover, and existing fleet management. Close Brothers and Lombard both require at least one year of trading. Aldermore Asset finance accepts businesses with six months of trading history. Turnover expectations vary. Close Brothers asks for a minimum turnover of £500,000, while Lombard sets the bar at £25,000.
Personal guarantees are common at this level. Reward Funding, Liberty Leasing, Close Brothers, and Aldermore all list personal guarantees as a requirement. Some lenders also consider the age and condition of the vehicles you intend to finance. Older HGVs may attract higher rates or shorter terms. Lenders want reassurance the asset will retain enough value to cover their exposure if you default.
Having a clear service contract or forward workload can strengthen your case, especially for newer or expanding haulage firms.
Rate and structure comparison for £700,000 haulage finance
| Lender | Rate range | Max LTV | Max term |
|---|---|---|---|
| Reward Funding | 0.99% to 3% per month | 85% | 1 year |
| Liberty Leasing | 11% to 16% per year | Not confirmed | 5 years |
| Lombard | 4% to 11.5% per month | Not confirmed | Not confirmed |
| Close Brothers | 3.5% to 10% per month | 90% | 7 years |
| Aldermore | 5% to 15% per year | 100% | 7 years |
Rates vary considerably across the market. Monthly-rate lenders like Reward Funding advertise from 0.99% to 3% per month, while annual-rate lenders such as Liberty Leasing quote 11% to 16% per year. Close Brothers uses bespoke pricing from 3.5% to 10% per month, which is typical for larger structured deals.
Loan-to-value ratios also differ. Aldermore and Propel Finance both go up to 100% LTV on asset finance facilities. Close Brothers caps at 90%, and Reward Funding at 85%. A higher LTV reduces your upfront deposit but may carry a higher rate. For a £700,000 facility, even a ten percentage point difference in deposit is significant, so comparing LTV terms across lenders is worth the effort.
How to secure competitive terms on £700,000 fleet finance
Lenders competing for £700,000 haulage deals will assess risk carefully, but there are steps you can take to improve your position. First, ensure your management accounts and VAT returns are up to date. Lenders at this level expect clean financial records and a clear audit trail for existing fleet spend.
Second, consider the deposit you can offer. While Aldermore and Propel Finance can provide 100% LTV, putting down 10% to 15% can open access to lower rates from lenders like Close Brothers and Reward Funding. A larger deposit signals commitment and reduces the lender's exposure.
Third, compare total cost over the full term, not just the headline rate. A lower monthly rate over a longer term may cost more overall. Ask for a total amount payable figure and compare that across at least three lenders before committing. A broker with haulage-sector experience can help negotiate better terms than approaching lenders directly.
