Top 10 Lenders to Secure £950,000 Equipment Finance in 2026
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Top 10 Lenders for £950,000 Equipment Finance in the UK
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established firms needing competitive monthly-rate funding for high-value equipment | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Businesses seeking equipment finance with transparent annual-rate pricing structures | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Well-established companies wanting flexible asset finance from a major UK lender | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Growing businesses needing equipment finance up to £5 million with annual rates | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Included for comparison; firms seeking equipment leasing with annual-rate pricing | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Larger established firms wanting bank-backed asset finance with deep-sector expertise | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-sized companies needing asset finance with competitive annual interest rates | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Included for comparison; broad asset finance options across various equipment types | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Established operators seeking flexible asset finance with a wide lending range | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Well-capitalised firms needing bespoke high-value equipment finance solutions | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Equipment finance, also called asset finance, lets businesses spread the cost of essential machinery, vehicles, and technology over time instead of paying the full sum upfront. For established businesses, it preserves working capital while securing the kit needed to grow. At the £950,000 level, this funding typically supports heavy plant, specialist manufacturing equipment, or large commercial vehicle fleets.
Choosing the right lender goes beyond headline interest rates. Established businesses should compare the total cost of borrowing, including arrangement fees and early settlement terms. Consider whether the lender offers hire purchase, finance lease, or operating lease structures and which suits your accounting treatment. Lender experience in your specific equipment type can also influence approval speed and deal flexibility.
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: Monthly rates start at 0.99%, which helps keep costs predictable when financing high-value equipment acquisitions. Reward Funding structures facilities against the asset itself, so machinery with strong residual value strengthens your application. Expect to provide detailed asset specifications and up-to-date business financials.
Best next step: Competitive monthly rates for six-figure equipment deals.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 0.99% monthly
- Structures against asset value
- Facilities up to £5 million
Need to know
- Asset valuation required
- Detailed financials needed
- Secured against the equipment
Expert take
A well-established asset finance house comfortable with larger ticket sizes. For a £950,000 equipment purchase, the low starting rate and asset-based structure work in your favour if the machinery holds strong residual value.
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 funds equipment acquisitions from £10,000 to £2 million, making it a practical choice for mid-to-large asset purchases. It lends against the equipment itself, which preserves working capital for other business needs. Funding decisions typically come through within 24 hours. Be prepared for annual rates between 11% and 16%.
Best next step: Asset-backed funding with straightforward eligibility criteria.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Preserves working capital
- Decisions within 24 hours
- Covers equipment up to £2 million
Need to know
- Annual rates 11% to 16%
- Asset eligibility checks apply
- Deposits may be needed
Expert take
A no-nonsense funder that keeps the process simple by focusing on the equipment's value. For a £950,000 deal, the 24-hour turnaround and clean asset-backed model suit businesses that prioritise certainty over headline rate.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard funds equipment purchases up to £5 million, giving established businesses ample headroom for high-value acquisitions. As one of the UK's largest asset finance providers, it brings deep experience to complex equipment deals across manufacturing, transport and construction. Monthly rates range from 4% to 11.5%. Approval leans on asset quality and trading history.
Best next step: Major asset finance provider with deep sector experience.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £5 million
- Broad sector coverage
- Decades of lending experience
Need to know
- Monthly rates 4% to 11.5%
- Trading history scrutinised
- Asset quality key to approval
Expert take
A heavyweight in UK asset finance with the balance sheet to handle large equipment deals comfortably. For a £950,000 facility, sector knowledge in manufacturing and construction means the underwriting team understands the asset class from day one.
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 revolving credit, suiting businesses that need equipment funding alongside ongoing working capital. Flexible drawdown lets you access funds as needed rather than taking a lump sum. Facilities reach £5 million with annual rates from 5.5% to 13.5%. Approval weighs invoice quality and asset value.
Best next step: Combined asset and working capital funding from one lender.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Flexible drawdown structure
- Combines asset and invoice finance
- Facilities up to £5 million
Need to know
- Invoice quality assessed
- Annual rates 5.5% to 13.5%
- Limits can be reviewed
Expert take
A hybrid lender that works well when equipment finance is part of a broader funding need. For a £950,000 equipment purchase, pairing asset finance with revolving credit helps cover setup and operational costs under one roof.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Admiral Leasing can turn around funding decisions in as little as four hours, which helps when equipment needs to be secured quickly. It writes equipment leasing from £1,000 upwards, with annual rates between 5.5% and 13.5%. Higher-value facilities attract closer underwriting scrutiny, so prepare strong asset and financial documentation.
Best next step: Rapid four-hour decisions for urgent equipment acquisitions.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Decisions in four hours
- Rates from 5.5% annually
- Equipment leasing from £1,000
Need to know
- Higher-value deals scrutinised
- Asset eligibility checks apply
- Deposits may be required
Expert take
A fast-moving equipment lessor that prioritises turnaround speed. For a £950,000 equipment finance need with urgency, the four-hour decision window is a genuine advantage, provided the asset and business financials are in order.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays writes asset finance from £1,000 to £25 million, backed by a high-street balance sheet and broad product coverage. For established businesses, the bank's familiarity with large-scale equipment lending across sectors like manufacturing, transport and agriculture adds confidence. Annual rates range from 8.5% to 14.9%. Expect thorough financial vetting.
Best next step: High-street asset finance with facilities up to £25 million.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Lends up to £25 million
- Broad sector experience
- Established high-street lender
Need to know
- Thorough financial vetting
- Annual rates 8.5% to 14.9%
- Can be slower than specialists
Expert take
A banking heavyweight that suits established businesses with clean financials. For a £950,000 equipment purchase, the scale and sector familiarity add reassurance; just allow time for the full underwriting process.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance covers equipment deals from £15,000 to £5 million, serving a wide band of mid-market and larger businesses. It reports annual rates of 8% to 15% and takes a secured approach, lending against the equipment itself. The firm also handles revolving credit and term loans, which can help if your funding need extends beyond a single asset purchase.
Best next step: Mid-to-large ticket asset finance with multiple product options.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Deals from £15,000 to £5 million
- Multiple product types available
- Secured lending against equipment
Need to know
- Annual rates 8% to 15%
- Asset valuation required
- Financial history scrutinised
Expert take
A multi-product broker-lender hybrid that can structure around more complex funding needs. For a £950,000 equipment deal, access to revolving credit and term loans under one roof reduces the friction of coordinating multiple lenders.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Propel Finance quotes annual rates from 5% to 20% on asset finance, starting from just £500. The wide rate band means well-established businesses with strong credit and high-quality equipment can access competitive pricing. Funding typically takes two to five days. Propel lends against the asset, keeping the structure simple and secured.
Best next step: Broad rate range rewarding strong credit profiles.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Rates from 5% annually
- Starts from £500
- Simple asset-backed structure
Need to know
- Two to five day funding
- Asset eligibility checks apply
- Deposits may be needed
Expert take
A flexible asset funder whose rate band spans from competitive to premium, so pricing reflects risk accurately. For a £950,000 equipment purchase, strong financials and high-grade machinery tilt the rate toward the lower end of that range.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore provides asset finance from £1,000 to £10 million, giving substantial headroom for high-value equipment acquisitions. Annual rates of 5% to 15% and a 48-hour decision window place it in the mid-market sweet spot. The lender's SME focus means underwriting is geared toward owner-managed and mid-sized businesses rather than large corporates.
Best next step: SME-focused asset finance up to £10 million.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Lends up to £10 million
- SME-focused underwriting
- Rates from 5% annually
Need to know
- 48-hour decision window
- Asset valuation required
- Trading history assessed
Expert take
An SME specialist with the appetite and balance sheet to handle larger tickets comfortably. For a £950,000 equipment finance deal, Aldermore's mid-market underwriting lens means your business profile matches the type of borrower they understand best.
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 with turnover above £500,000, funding equipment deals from £25,000 to £100 million. Bespoke monthly rates from 3.5% to 10% reflect tailored pricing. The lender's strength in transport, manufacturing and construction makes it a natural fit for heavy equipment and specialist machinery acquisitions.
Best next step: Mid-market specialist with bespoke pricing and deep sector knowledge.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Bespoke pricing from 3.5% monthly
- Lends up to £100 million
- Deep transport and manufacturing focus
Need to know
- £500k minimum turnover required
- Mid-market businesses targeted
- Asset valuation essential
Expert take
A mid-market heavyweight whose sweet spot is exactly the kind of established business seeking a £950,000 equipment facility. The sector-specific underwriting in transport and manufacturing means they assess the asset and its earning potential, not just the balance sheet.
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How £950,000 equipment finance is structured for established businesses
Equipment finance at the £950,000 level works as a secured arrangement where the asset itself serves as collateral. The lender retains legal title until the final payment clears. You can typically choose between hire purchase, where ownership transfers at term end, or a finance lease, where you rent the asset and may return, extend or sell it once the agreement concludes.
Most lenders on this list can accommodate £950,000 within their published ranges. Lombard, Time Finance, Reward Funding and Acorn Business Finance each offer maximum facilities of £5,000,000. Close Brothers can fund up to £100,000,000. At this level, lenders often structure repayments over one to seven years. Aldermore Asset finance and Close Brothers both offer terms up to seven years. VAT-registered businesses can usually reclaim VAT on the purchase price, while finance repayments are treated as a trading expense.
What lenders look for in a £950,000 equipment finance application
Lenders assessing a £950,000 equipment finance application focus on trading history, turnover strength and the asset's resale value. Lombard and Close Brothers both require at least one year of trading. Aldermore Asset finance accepts businesses from six months. Turnover expectations vary. Close Brothers requires a minimum of £500,000, suiting larger established firms. Lombard sets the bar at £25,000. Aldermore has no minimum turnover requirement.
A personal guarantee is standard at this level. Reward Funding, Liberty Leasing, Close Brothers, Time Finance and Aldermore all require a director's guarantee. Loan-to-value also matters. Reward Funding caps lending at 85% of the asset's worth. Propel Finance and Aldermore both offer up to 100% LTV, meaning they can fund the full equipment cost for strong applicants. Preparing audited accounts, asset specifications and supplier invoices before applying will strengthen your case.
What equipment types qualify for £950,000 asset finance
At £950,000, equipment finance covers heavy plant and machinery, manufacturing lines, commercial vehicles, agricultural equipment, construction machinery, printing presses, medical and dental kit, and specialist industrial assets. The key requirement is that the equipment must have a clear resale value and a definable useful life.
Hard assets such as CNC machines, HGVs and production lines typically attract better rates and longer terms than soft assets like IT hardware. Barclays, with terms up to 25 years, supports long-life assets. Reward Funding, with terms from three months to one year, suits shorter-life or bridge-style equipment needs. Businesses approaching lenders should have supplier quotes, asset specifications and projected utilisation figures ready. If the equipment is bespoke or has limited secondary market appeal, expect lenders to ask for a larger deposit or offer a lower LTV.
Comparing rate structures on £950,000 equipment finance deals
Rates for £950,000 equipment finance split into monthly and annual pricing. Monthly rates below 5% are common among lenders serving larger deals. Annual rates, typically above 5%, appear more often in longer-term agreements. The table below shows how five lenders compare.
| Lender | Rate type | Published rate range |
|---|---|---|
| Reward Funding | interest | 0.99% to 3% per month |
| Close Brothers | bespoke | 3.5% to 10% per month |
| Lombard | interest | 4% to 11.5% per month |
| Time Finance | interest | 5.5% to 13.5% annually |
| Aldermore Asset finance | interest | 5% to 15% annually |
The rate you receive depends on asset type, trading strength, deposit size and term length. Stronger applications with well-established businesses and durable assets tend to price at the lower end of these ranges.
