Construction Business Loans: Asset finance for excavators, telehandlers, cranes & HGVs

Short answer: Yes — UK Business Loans can match construction companies with lenders and brokers that provide asset finance for excavators, telehandlers, cranes and HGVs. We don’t lend money ourselves; we introduce businesses to specialist finance providers so you can get quotes quickly and choose the right funding route. Get Quote Now — Free Eligibility Check

What is asset finance for construction equipment?

Asset finance is a suite of products that lets a business acquire plant, machinery and vehicles without paying the full purchase price up front. For construction firms this commonly includes hire purchase, finance leases, operating leases and chattel mortgages. Each product changes who holds ownership, tax and VAT treatment, and how the asset sits on your balance sheet.

• Hire purchase (HP) — you usually pay a deposit then monthly payments; ownership typically transfers after the final payment.
• Finance lease — lender retains ownership while you get use of the asset; often lower monthly costs but no automatic ownership.
• Operating lease — off‑balance-sheet hire with no ownership; useful if you want to rotate equipment regularly.
• Chattel mortgage / refinance — secured against the equipment; useful for refinancing existing plant.

For new equipment VAT can often be reclaimed by VAT‑registered companies, which affects cashflow and structuring of deals. The right product depends on asset type, age, planned usage and tax position — which is why specialist brokers can add value.

Can UK Business Loans arrange finance for: Excavators, Telehandlers, Cranes and HGVs?

Short answer: we introduce construction businesses to lenders and brokers who specialise in these asset classes. Below is a practical breakdown for each asset type and what to expect.

Excavators

Typical funding: hire purchase and finance leases are common for both new and used excavators. Lenders will consider machine age, hours, service history and whether the machine is for owner‑use or hire. Typical sizes range from about £10,000 for small used units up to £500,000+ for large, new crawler machines.

Telehandlers

Telehandler finance often mirrors excavator deals. Many funders will finance demonstration and low‑hour used telehandlers; warranty, condition and attachments can affect rates. Terms generally run 2–5 years depending on use and residual value expectations.

Cranes (mobile, tower, crawler)

Cranes require specialist appetite. Mobile cranes and tower cranes are often funded through bespoke lease arrangements and sometimes via brokers who work with specialist asset funds. Surveys, LOLER records and detailed valuations are typically required. Finance amounts vary widely — small mobile cranes may start around £50k; larger lattice or tower cranes can be £250k–£1m+.

HGVs (rigid & articulated)

HGV funding options include hire purchase, leasing and fleet finance. Lenders will check vehicle age, mileage, MOT and tachograph history for used units. Fleet deals for multiple trucks are commonly available and often priced more competitively than single‑vehicle finance.

Remember: UK Business Loans acts as an introducer and will match you with lenders/brokers that specialise in these assets — we don’t provide the finance ourselves. Free Eligibility Check

Who can get asset finance (eligibility & criteria)?

Typical eligibility requirements lenders look for:

• Registered UK companies (limited companies, LLPs and established partnerships).
• Minimum trading history — often 6–12 months is preferred; established SMEs fare best.
• Clear credit profile for the business and principal directors (lenders vary on flexibility).
• Asset condition, age and intended use — newer assets attract better terms.
• Evidence of maintenance, service logs and certifications for heavy plant.
• Relevant licences where applicable (see HGV / crane sections below).

If you’re unsure whether you meet criteria, start with a Free Eligibility Check. Our matching reduces wasted time by connecting you only to lenders who are likely to consider your case.

How much can you borrow and typical terms?

Typical funding ranges (illustrative):

• Excavators: £10,000–£500,000+
• Telehandlers: £8,000–£200,000
• Cranes: £50,000–£1,000,000+
• HGVs (per vehicle): £10,000–£300,000; fleet finance higher

Term lengths usually run from 12 months up to 7 years depending on asset type and lender. Deposits vary (0–30% typical) and rates depend on credit, asset age, term and product type. Many lenders will finance used equipment — often up to 10–15 years old for certain asset types — but expect higher costs for older machinery.

Specialist considerations for each asset class

Getting the paperwork and inspections right speeds approval and improves offers:

• Inspections & valuations: funders often require a pre‑purchase inspection or independent valuation for high‑value plant and cranes.
• LOLER & certification (cranes): crane finance frequently requires evidence of LOLER tests, lift plans and maintenance records.
• HGV licence & operator requirements: for commercial HGV fleets lenders may check O‑licence status, tachograph and driver records.
• HPI & registration checks: heavy vehicles should be checked for outstanding finance or liens.
• Insurance: comprehensive cover with lender interest noted is typically required from completion.

Gathering invoices, maintenance logs, MOT history, accounts and bank statements before you apply will speed up the process — your broker or lender will ask for these.

How UK Business Loans helps you find the right lender or broker

Our role is to match construction businesses with lenders and brokers who specialise in plant, vehicle and fleet finance. Here’s how it works:

1. Complete a short enquiry — takes under 2 minutes. Get Quote Now — Free Eligibility Check
2. We review your brief details and match you to the most relevant lenders/brokers on our panel.
3. Specialist brokers or lenders contact you with tailored options — typically within hours during business days.
4. Compare quotes, choose the provider you prefer and proceed with documentation and funding.

Benefits: industry‑specific matchmaking, faster responses, and fewer wasted approaches to unsuitable lenders. Example: a regional civil engineering contractor we introduced to a specialist plant lender received competitive hire purchase terms for two excavators and a telehandler within 48 hours.

To start the process and get matched quickly, Start Your Free Eligibility Check.

Costs, fees and typical repayment structures

Common costs to compare when you receive quotes:

• Arrangement fees — one‑off fees charged by some lenders or brokers.
• Interest rate / APR — quoted differently across products; compare total cost over the term.
• Balloon or residual payments — common on longer leases to reduce monthly costs.
• Early repayment fees — check terms if you plan to refinance or sell the asset early.
• VAT treatment — on new equipment VAT is usually payable up front (but recoverable by VAT-registered businesses), which affects cashflow and deal structuring.

Ask for a full breakdown of monthly payments, fees and any penalties so you can compare like for like. Your broker can model total cost and cashflow impact.

Frequently asked questions

Will applying affect my credit score?

Submitting an enquiry via UK Business Loans does not affect your credit score. Lenders or brokers may perform credit checks later if you choose to proceed.

Can I finance used equipment?

Yes. Many lenders will finance used plant and vehicles depending on asset age, condition and type. Specialist lenders often cover higher ages for particular asset classes.

Can I refinance existing machines?

Yes — refinancing or consolidating existing asset finance is common. It can improve monthly cashflow or simplify repayments, subject to the lender’s terms.

Our Business Finance Matching Process

Step 1

Complete Your Details

It takes just 1 minute on average to complete your business and contact details.

Step 2

We Match Your Business

With the best business finance broker or lender most suitable for your needs.

Step 3

You Get Free Quote + Advice

You receive a free quote along with complimentary expert financial advice.

It’s fast and free to get a quote from one of the UK’s leading finance brokers / lenders who will contact you directly with your quote/s.

How quickly will I hear from a lender after I submit an enquiry?

Often within a few hours during business hours; for high‑value or complex assets (like large cranes) the process may take longer due to valuations and inspections.

Do you charge for introductions?

No — using UK Business Loans to be matched with lenders and brokers is free and without obligation. We earn revenue when businesses complete the enquiry form and are introduced to our partners.

Next steps — Get a free, no‑obligation quote

Ready to explore options? Follow these simple steps:

1. Click Get Quote Now — Free Eligibility Check.
2. Complete the short form with basic asset and business details (asset type, age, value, postcode, contact).
3. We match you to specialist lenders/brokers and you receive personalised quotes to review.

It’s quick, free and there’s no obligation to proceed — just a fast way to see what finance is available and at what cost.

Legal & compliance

UK Business Loans does not lend money or provide regulated financial advice. We act as an introducer, matching businesses to lenders and brokers who can offer finance. Completing our enquiry form is a lead introduction only; any credit decision, agreement and terms will come directly from the lender or broker you choose. Rates and eligibility depend on lender criteria, asset condition and business circumstances.

Further reading and resources: see our construction sector guide on construction business loans.

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Still unsure? For a quick, no‑obligation review of your requirements, Start Your Free Eligibility Check — we’ll match you to the right specialist lenders and brokers who understand plant, crane and fleet finance.

1. What types of asset finance are available for construction equipment like excavators, telehandlers, cranes and HGVs?
– Common options include hire purchase, finance leases, operating leases and chattel mortgages, each affecting ownership, VAT and balance sheet treatment.

2. Can I finance used excavators, telehandlers, cranes or HGVs?
– Yes — many specialist lenders and brokers will fund used plant and vehicles depending on age, hours, condition and service history.

3. How much can I borrow for plant, cranes or HGVs and what are typical terms?
– Typical ranges are roughly £10k–£500k+ for excavators, £8k–£200k for telehandlers, £50k–£1m+ for cranes and £10k–£300k per HGV, with terms commonly 12 months to 7 years depending on asset and lender.

4. Who is eligible for construction asset finance?
– UK-registered businesses (limited companies, LLPs, partnerships and many sole traders) with usually 6–12 months trading, acceptable credit profiles, and relevant licences/certifications are most likely to qualify.

5. Will submitting an enquiry via UK Business Loans affect my credit score?
– No — completing our free eligibility check is a non-credit-search enquiry; lenders or brokers may carry out credit checks later if you choose to proceed.

6. How quickly will I hear from lenders or brokers after submitting a free eligibility check?
– Typically you’ll receive contact within a few hours during business days, though high-value or complex assets like large cranes may take longer due to valuations and inspections.

7. Do you charge to match me with lenders and is the enquiry a loan application?
– No — our introduction service is free and the enquiry form is not a formal loan application but information to match you with suitable lenders or brokers.

8. What inspections, certifications and documents are usually required for crane or HGV finance?
– Lenders commonly ask for independent valuations or inspections, LOLER and maintenance records for cranes, MOT/tachograph and O‑licence information for HGVs, plus invoices, accounts and insurance evidence.

9. Can I refinance or consolidate existing asset finance for construction equipment?
– Yes — refinancing or consolidating existing plant and vehicle finance is common and can improve cashflow or simplify repayments subject to lender terms.

10. How do VAT, deposits and balloon/residual payments affect the cost of asset finance?
– VAT on new equipment (often reclaimable by VAT‑registered businesses), deposit levels (typically 0–30%), and any balloon/residual payments all influence upfront cashflow and total finance cost, so compare full repayment schedules.