Quick answer / TL;DR

Yes — UK Business Loans does not lend directly, but we connect your company with UK lenders and brokers that provide asset finance for both new and used equipment. Benefits:

• Fast matching to specialist providers — typically within hours.
• No obligation: receive quotes and choose what suits you. Free Eligibility Check

What is asset finance?

Asset finance is a group of funding solutions designed so businesses can acquire or refinance tangible assets (machinery, vehicles, catering equipment, medical devices, IT servers, etc.) while spreading the cost over time. Common structures include hire purchase, finance leases, operating leases, chattel mortgages and sale‑and‑hire‑back. Asset finance helps preserve working capital, align repayments with the asset’s useful life and, depending on the product, may offer tax or balance‑sheet benefits.

Businesses use asset finance when they want to:

• Buy or upgrade equipment without a large upfront cash outlay.
• Replace or expand a vehicle fleet.
• Refinance existing assets to free up working capital.

For more detail about the broader market of commercial finance, see our internal commercial finance resources — or start an enquiry to get personalised options. Get Quote Now

Can UK Business Loans help with new or second‑hand equipment?

Short answer: yes. UK Business Loans acts as a matchmaker for businesses seeking asset finance. We introduce limited companies, LLPs and established commercial entities (typical arrangements from around £10,000 upwards) to lenders and brokers who specialise in financing new and used equipment.

How it works:

1. You complete a short enquiry with basic business and asset details (takes ≈2 minutes).
2. We match your case to the most relevant lenders and brokers in our panel.
3. These partners contact you with tailored quotes and next steps — no obligation to proceed.

Your initial enquiry won’t affect your credit score. If you decide to progress with a particular provider, they may run credit or affordability checks as part of their application process. Start Your Enquiry

Want to read more about commercial finance options? Our guide on commercial finance explains market choices in greater depth, including typical uses and providers.

Further reading on commercial finance: commercial finance

New vs second‑hand equipment — what lenders look for

Condition & age

New equipment is straightforward to value; lenders often prefer it because of predictable depreciation and warranty cover. Second‑hand items are assessed for remaining useful life and resale value — older assets can be financed but usually on shorter terms and sometimes with a higher deposit.

Type of equipment

Lenders differentiate by asset class. Specialist medical or manufacturing kit may require expert valuers; plant and construction machinery have a strong resale market which helps lender appetite for used units.

Market for resale

If there’s an established secondary market (e.g. forklifts, agricultural tractors, delivery vans), lenders are more comfortable financing used items. Niche or highly customised kit may be harder to finance second‑hand.

Value & deposit

Expect lower loan‑to‑value (LTV) ratios for older equipment. Deposits for used assets can range from 10–30% depending on age, condition and asset class.

Maintenance & warranties

Well‑maintained, documented service history and any remaining warranties improve finance terms for second‑hand equipment.

Ready to see what you could borrow for new or used kit? Get Quote Now

Common asset finance options explained

Below are the solutions you’ll commonly see for equipment finance:

Hire Purchase (HP)

Pay an initial deposit then fixed monthly payments; ownership transfers after the final payment. Popular for new and used equipment.

Finance Lease

The lender owns the asset; you pay rentals for an agreed term. At the end you can often negotiate a purchase or return the asset.

Operating Lease

Shorter term rental arrangements where the asset stays off your balance sheet in many cases — common for vehicle fleets and IT where regular upgrades are desired.

Chattel Mortgage

Similar to a mortgage over an asset: you own the asset from day one while the lender holds a charge until repaid.

Asset refinance / Sale & hire back

Sell existing equipment to a finance provider and lease it back to release cash while retaining use of the asset.

Each option has pros and cons depending on tax position, accounting treatment and cashflow needs. Our partners will explain which is most suitable for your business after you submit a short enquiry. Free Eligibility Check

Who can get asset finance? Typical eligibility

UK Business Loans commonly helps:

• Limited companies and LLPs with trading history.
• Franchises and established SMEs across construction, manufacturing, hospitality, logistics and healthcare.
• Companies with adverse credit — some specialist lenders consider these cases.

Typical checks lenders perform:

• Trading history and turnover.
• Profitability or management accounts.
• Director ID and financials; sometimes personal guarantees for smaller businesses.
• Details about the asset (age, condition and valuation).

If you meet the basic criteria and are seeking £10,000 or more, start an enquiry to find matched lenders. Start Your Enquiry

Typical documents & information you’ll need

Have these handy to speed up matching and quoting:

• Company name, registration number and address.
• Contact details and expected purchase price of the asset.
• Trading history and turnover (latest 12 months / management accounts).
• Supplier quote or invoice; for used assets include photos, serial/VIN and service history.
• Identity and address proof for directors (passport/driving licence + recent utility bill).

With these, lenders can typically provide indicative terms quickly. Get Quote Now

How UK Business Loans matches you to the best lenders

We combine an automated matching process with experienced human review. When you submit your short enquiry we:

1. Identify the asset class, sector and finance type required.
2. Match your case to lenders and brokers that specialise in that asset and credit profile.
3. Introduce your enquiry so partners can provide tailored quotes and next steps.

Expect contact from relevant providers — often within hours during business times. There’s no obligation to accept any quote. Free Eligibility Check

Example use‑cases

Construction SME — used excavator on hire purchase

A regional construction business needed a good‑quality second‑hand excavator. We matched them with a broker experienced in used plant finance. The business provided photos, service logs and a supplier invoice; the broker arranged a competitive HP plan with a 15% deposit and a 4‑year term — cashflow improved and they secured ownership at term end.

Café group — new kitchen fit‑out on finance lease

A growing café chain financed new ovens and refrigeration across three sites. A finance lease enabled lower upfront costs, tax-efficient rental treatment and a staged roll‑out aligned to seasonal trading.

Want a similar result? Get Quote Now

Costs, fees & transparency

Costs vary by lender, asset age and your credit profile. Typical items to compare include:

• Interest rate or rental charge (expressed as an annual rate by some lenders).
• Arrangement or documentation fees.
• Deposit requirement and any residual value at term end.
• Early‑repayment charges.

We don’t provide rates — our role is to introduce you to providers who will give personalised, transparent quotes so you can compare total cost and contractual terms. Request a Quote

FAQs

Will applying through UK Business Loans affect my credit score?

No — submitting an enquiry to UK Business Loans will not affect business or personal credit. Individual lenders may carry out checks later if you proceed with their application.

Can I finance equipment older than 10 years?

Possibly — it depends on the asset type, condition and secondary market. Many lenders limit finance for very old or obsolete kit, but specialist providers sometimes consider bespoke cases.

Do you lend directly?

No — we introduce businesses to lenders and brokers who supply the finance. We help you find the most relevant partners quickly.

How fast will I get quotes?

Often within hours for standard assets; more complex or bespoke equipment may take longer while valuations are confirmed.

Have another question? Free Eligibility Check

Next steps — how to enquire

Ready to explore asset finance for new or second‑hand equipment?

1. Click Get Quote Now and complete the short enquiry (≈2 minutes).
2. We match your business to the best lenders and brokers for your asset and sector.
3. Receive quotes, compare terms and choose the provider that best fits your needs.

There’s no obligation — you only pay if you accept a lender’s terms. Start with a quick enquiry today: Free Eligibility Check

Important: UK Business Loans is an introducer that connects businesses to lenders and brokers. We do not supply loans directly and we do not provide regulated financial advice. All quotes provided by third‑party lenders are subject to the lender’s terms and checks.