Top £700k Machinery Finance Lenders in the UK for 2026
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Top Lenders for £700,000 Machinery Finance Compared
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established firms funding heavy plant and production machinery | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Manufacturers and engineers funding mid-value production equipment | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established manufacturers financing large-scale production machinery | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Growing manufacturing and engineering businesses funding equipment | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | All business sizes funding a wide range of equipment | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Established businesses funding machinery through a mainstream bank | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Manufacturing and construction firms funding specialist machinery | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Flexible machinery funding from small equipment to heavy plant | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Businesses with shorter trading history funding machinery purchases | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Well-established firms funding large-scale industrial machinery | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset finance lets a business buy machinery by spreading the cost over time while the equipment itself acts as security for the funding. It suits manufacturers, construction firms, and engineering businesses that need heavy plant or production lines without draining cash reserves. At £700,000, this type of funding typically supports the purchase of CNC machines, printing presses, packaging lines, or excavators.
Comparing lenders for machinery finance at this level goes beyond headline rates. The total cost over the asset's working life matters more than a single APR figure. Deposit requirements can vary significantly, affecting upfront cash flow. Some lenders specialise in specific equipment types and may offer better terms for your machinery category. Repayment flexibility is worth checking — seasonal businesses in particular benefit from structured payment profiles. Finally, look at whether the lender has experience funding assets in your industry.
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 £5,000,000 against production machinery, plant and specialist vehicles. The lender favours asset-backed structures where the equipment itself secures the borrowing, which can keep rates lower than unsecured alternatives for larger machinery purchases. Expect a straight requirement for a deposit and asset valuation.
Best next step: Asset-backed machinery funding up to £5m with quick decisions.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Flexible drawdown for staged machinery purchases
- Funding decisions within 24 hours
- Asset itself secures the borrowing
Need to know
- Deposit typically required
- Asset valuation costs apply
- Suitable security is essential
Expert take
Reward Funding is a flexible asset-based lender comfortable with mid-to-large machinery transactions. For a £700,000 purchase, the asset-backed model works in your favour when equipment holds strong resale value. Underwriting is pragmatic, not formulaic.
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 machinery finance between 11% and 16% annually, giving borrowers a predictable cost line for budgeting larger equipment purchases. Lending spans £10,000 to £2,000,000, with the equipment itself securing the facility so working capital stays untouched. Decisions arrive within 24 hours, though a deposit and independent valuation are standard.
Best next step: Annual-rate machinery finance with decisions in 24 hours.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual interest rate for predictable budgeting
- Funding decision within 24 hours
- Asset-secured so cash flow stays intact
Need to know
- Deposit and valuation typically required
- Rates start from 11% annually
- Equipment eligibility checks apply
Expert take
Liberty Leasing keeps asset finance simple: fund the machine, secure against the machine. For a £700,000 machinery investment, annual-rate pricing makes long-term cost comparison easy. Suited to standard equipment types with clear resale value.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard funds machinery acquisitions up to £5,000,000, often turning around decisions within 24 hours for straightforward equipment profiles. As one of the UK's longest-established asset finance names, its underwriting appetite covers heavy plant, production lines and specialist vehicles. Interest is calculated monthly at 4% to 11.5%, so total cost merits careful comparison.
Best next step: Funding up to £5m from an established UK asset lender.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Decisions within 24 hours for standard deals
- Funding ceiling of £5,000,000 for large fleets
- Long-established name in UK asset finance
Need to know
- Monthly interest rate structure applies
- Deposit and valuation are standard
- Equipment type affects underwriting appetite
Expert take
Lombard is a heavyweight in UK asset finance with decades of machinery experience. For a £700,000 purchase, its established processes and broad equipment appetite work to your advantage. Monthly-rate pricing means comparing total costs across lenders is essential.
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 structures machinery funding up to £5,000,000 with annual interest from 5.5% to 13.5%, offering a revolving credit approach alongside standard asset finance. This suits businesses that need staged machinery investment alongside working capital. Decisions come within 24 hours, but deposit terms and asset eligibility will apply.
Best next step: Annual-rate asset finance with revolving credit flexibility.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual interest from 5.5% for strong applicants
- Revolving credit option alongside asset finance
- Decisions within 24 hours
Need to know
- Deposit and asset valuation required
- Revolving limits can be reviewed or reduced
- Asset type affects eligibility
Expert take
Time Finance blends asset finance with revolving credit, giving machinery buyers flexibility beyond one purchase. For £700,000 machinery investment, annual-rate pricing simplifies cost forecasting. Suits businesses adding equipment in stages over time.
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 routes to machinery funding. The lender covers asset finance from £1,000 upwards with annual rates between 5.5% and 13.5%. Strong trading history and affordability evidence will likely be required for larger machinery deals.
Best next step: Rapid equipment finance decisions in as little as 4 hours.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding decisions in as little as 4 hours
- Annual interest for predictable repayments
- Covers a wide range of machinery types
Need to know
- Strong trading history likely needed
- Personal guarantee may be required
- Asset valuation and deposit apply
Expert take
Admiral Leasing is a responsive equipment funder that prioritises speed without sacrificing underwriting rigour. For a £700,000 machinery purchase, the four-hour decision promise sets it apart from slower asset finance providers.
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 to machinery purchases, with facilities spanning £1,000 to £25,000,000 at annual rates from 8.5% to 14.9%. For established businesses with clean credit and audited accounts, the high-street backing can mean competitive terms. Underwriting tends to be slower and more documentation-heavy than alternative lenders.
Best next step: Bank-backed asset finance for established UK businesses.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Bank-backed finance with strong brand trust
- Lending ceiling of £25 million
- Annual interest rate for clear budgeting
Need to know
- Bank underwriting can be slower
- Strong trading history essential
- Personal guarantee may be required
Expert take
Barclays is a high-street bank with a dedicated asset finance division. For a £700,000 machinery purchase, institutional backing works in your favour with clean accounts and patience. Underwriting is thorough and slower than non-bank alternatives.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance covers machinery funding from £15,000 to £5,000,000 with annual rates between 8% and 15%. Beyond straightforward asset finance, the lender also structures term loans and revolving facilities, useful if the machinery purchase is part of a wider growth plan. Decisions typically come within 24 hours.
Best next step: Multi-product lender covering machinery finance up to £5m.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Multiple product types under one roof
- Decisions typically within 24 hours
- Annual interest from 8%
Need to know
- Deposit and valuation costs apply
- Strong trading history expected
- Security arrangements may be complex
Expert take
Acorn Business Finance is a multi-product lender structuring machinery funding as asset finance or blended with wider business lending. For a £700,000 purchase, mixing product types helps when you are funding more than equipment alone.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Starting from just £500, Propel Finance covers asset purchases across a wide machinery spectrum with annual rates between 5% and 20%. Funding completes within two to five days, a working-week pace that suits planned rather than urgent acquisitions. Deposit and valuation requirements are standard for larger deals.
Best next step: Broad-spectrum asset funding for planned machinery purchases.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Wide machinery-type appetite
- Annual interest for cost comparison
- Facility sizes from small to large
Need to know
- Funding takes 2 to 5 days
- Rates vary widely by asset profile
- Deposit and valuation are standard
Expert take
Propel Finance is a broad-spectrum asset funder with appetite across many equipment types. For a £700,000 machinery purchase, rate variance means your asset profile heavily influences final cost. Comparing quotes is essential.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: With annual rates starting at 5%, Aldermore Asset Finance keeps entry-level pricing competitive for machinery deals while funding up to £10,000,000 where needed. The lender's SME-focused underwriting suits owner-managed and mid-market businesses better than large corporates. Expect around 48 hours for funding to complete.
Best next step: SME-focused machinery finance from 5% annually.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5% for strong cases
- SME-focused underwriting approach
- Funding ceiling of £10 million
Need to know
- Funding takes around 48 hours
- Thorough asset assessment required
- Credit and trading history matter
Expert take
Aldermore is an SME-specialist lender with a well-established asset finance division. For a £700,000 machinery purchase, its mid-market focus means underwriters understand owner-managed structures. Rates reward strong credit and equipment profiles.
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 targets established mid-market businesses turning over £500,000 or more, with particular strength in manufacturing, construction and transport. Asset finance ranges from £25,000 to £100,000,000 with bespoke monthly rates from 3.5% to 10%. For a £700,000 machinery purchase, the lender's sector experience in heavy equipment is a genuine advantage.
Best next step: Mid-market machinery finance with deep sector expertise.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Deep sector expertise in manufacturing
- Lending up to £100 million
- Decisions within 24 hours
Need to know
- £500k minimum turnover expected
- Bespoke monthly rate structure
- Mid-market business focus
Expert take
Close Brothers is a long-established merchant bank with deep roots in UK manufacturing and construction. For a £700,000 machinery purchase, sector-aligned underwriting and a £500k turnover threshold suit established industrial businesses well.
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How asset finance works for £700,000 machinery purchases
When you finance £700,000 of machinery through asset finance, the equipment itself secures the lending. The lender pays the supplier directly and you repay in fixed instalments over an agreed term.
At this level, you will typically choose between hire purchase and a finance lease. With hire purchase, you own the machinery outright after the final payment. A finance lease keeps ownership with the lender, often resulting in lower monthly costs and potential tax advantages.
Most lenders on this list can comfortably handle a £700,000 facility. Reward Funding offers up to £5,000,000, as do Lombard and Time Finance. Barclays extends to £25,000,000 and Close Brothers to £100,000,000, so your requirement sits well within mainstream appetite for machinery-backed lending.
Deposit expectations and LTV on £700,000 machinery finance
Lenders funding machinery at this level typically expect a deposit, though the percentage varies. The deposit reduces lender risk and demonstrates your commitment to the asset.
Reward Funding publishes a maximum loan-to-value of 85%, meaning roughly £105,000 down on a £700,000 machine. Close Brothers goes to 90% LTV, requiring around £70,000. Two lenders on this list can go further: both Propel Finance and Aldermore Asset finance offer up to 100% LTV, which could mean no deposit if the asset valuation supports it.
Your deposit will depend on the lender, the machinery type, its expected resale value, and your financial profile. Specialist or bespoke machinery often attracts lower LTVs than standard equipment with a clear secondary market.
Rate bands and repayment structures for £700,000 machinery finance
Rates on machinery finance at the £700,000 level vary significantly. Some lenders quote monthly, others annually, so direct comparison requires care.
| Lender | Rate type | Typical rate range |
|---|---|---|
| Reward Funding | Interest (monthly) | 0.99% to 3% monthly |
| Close Brothers | Bespoke (monthly) | 3.5% to 10% monthly |
| Lombard | Interest (monthly) | 4% to 11.5% monthly |
| Time Finance | Interest (annual) | 5.5% to 13.5% annually |
| Aldermore | Interest (annual) | 5% to 15% annually |
With a facility of this size, even a small rate gap translates into thousands of pounds over the term. Liberty Leasing publishes rates from 11% to 16% annually, Acorn Business Finance from 8% to 15% annually, and Barclays from 8.5% to 14.9% annually for terms stretching up to 25 years.
What lenders need from you for £700,000 machinery finance
At the £700,000 level, lenders expect a thorough application. You should prepare at least two years of filed accounts, up-to-date management accounts, and recent business bank statements. If the machinery will generate revenue, include projections showing how the asset will pay for itself.
Many lenders funding at this level will ask for a personal guarantee from directors. Reward Funding, Liberty Leasing, Time Finance, Aldermore, and Close Brothers all note that personal guarantees are required. A PG means you are personally liable if the business cannot meet repayments, so understand the extent of any guarantee before signing.
You will also need supplier quotes or a pro forma invoice for the machinery. Lenders use this to confirm the asset value and structure the facility. Some may request an independent valuation for specialist or used equipment.
