Equipment Finance

From £10,000 to £5 million, Union Business Finance helps businesses secure equipment finance, loans or leasing for new machinery, tools and equipment - minimising cashflow impact and maximising growth.

Rates from

7%
£0 Deposit
Same Day Finance Available

Apply Now

For businesses to grow and reach targeted goals, you need access to the highest quality equipment. However, equipment can often be expensive to purchase. Fortunately, our equipment finance options, provided by over 100+ lenders, can give you access to the right equipment to take your business to the next level.

What Is Equipment Finance?

Equipment finance - a more specific form of asset finance - enables organisations to secure the necessary funds to acquire, upgrade, or replace important business equipment. Data from the Finance & Leasing Association (FLA) shows that in 2024 £1.225 billion in new funding was used to purchase new IT equipment, and £1.721 billion for other business equipment - excluding plant & machinery (£7.472 billion), and commercial vehicles.

So equipment finance is a vital and popular finance solution for businesses.

Finance Calculator

Please note this is not a quotation for finance, this is for illustrative purposes only. The figures are available to UK incorporated businesses only. The value provided is intended as a guide only. For an accurate quotation please contact us.

Request a call back

UK Phone Number... *

Are you a UK Homeowner?*

Yes

You agree to how we use your data as explained in our Privacy Policy

Submit

Start Over

How Equipment Finance Works

Equipment finance provides a practical solution by allowing you to spread the cost of purchasing equipment over time, rather than making a significant up-front investment. The finance options available range from a traditional secured or unsecured loan, to equipment leasing or hire purchase.

We understand that every business has unique needs; that's why we offer tailored solutions to help you acquire the funding for everything your business needs.

Examples of Equipment Eligible for Financing

Construction

Equipment finance - often referred to as “machinery finance” within this industry - allows construction companies to acquire expensive machines without significant up-front costs, ensuring projects stay on schedule and within budget. Some of the important specialised machinery and tools they can gain access to include:

Excavators
Cranes
Bulldozers
Concrete mixers

Manufacturing

Equipment finance helps manufacturers keep their production lines running smoothly, by providing the necessary capital to upgrade or replace outdated machinery. Manufacturers need various types of equipment, such as:

Assembly line machines
Robotics
Forklifts
Quality control devices

Healthcare

Equipment finance enables healthcare providers to access the latest technology and improve patient care without straining their finances. Hospitals, clinics, and dental practices require advanced medical equipment such as:

MRI machines
X-ray systems
Ultrasound devices
Dental instruments

Orange lorry pulling out of logistics centre

Transportation and Logistics

Businesses in the transportation and logistics sector need access to specific assets to operate efficiently; equipment finance offers flexible solutions for acquiring and upgrading these, helping companies manage their supply chains more effectively. These assets include:

Vehicles
Trailers
Forklifts
Warehouse equipment such as turntables

Agriculture

Equipment finance provides the necessary funding to invest in modern agricultural machinery, boosting productivity and sustainability. Some of the machinery that farmers and agricultural businesses rely on for day-to-day operations include:

Irrigation systems
Processing machines
Tractors
Hay balers

Retail

Equipment finance allows retailers and wholesalers to equip their stores with the latest technology and maintain an appealing shopping environment, enhancing customer experience and boosting sales. Some of this technology includes:

Point-of-sale systems
Display units
Refrigeration equipment
Delivery vehicles

Hospitality

Equipment finance enables hospitality businesses to invest in high-quality equipment, improving guest satisfaction and operational efficiency. Hotels, restaurants, and catering services rely on a range of equipment, such as:

Kitchen appliances
Furniture
Audiovisual systems
Laundry machines

Fitness

Equipment finance helps gyms, fitness and leisure centres maintain high standards of quality and efficiency, ensuring they meet customer demands. The fitness industry often requires specialised equipment such as:

Treadmills
Rowing machines
Elliptical trainers
Hydrotherapy pools
Saunas

Commercial Property

Commercial properties, including offices, can benefit from the latest technology and equipment, creating more innovative workspaces. This type of finance, alongside fit-out finance, can allow businesses to access assets such as:

Office furniture
Laptops and computers
Desk chairs
Printers

The Benefits of Equipment Finance

Equipment finance solutions offer far more than just gaining the necessary equipment for your business; it can also benefit your business through the following ways:

Preserve Cash Flow: By spreading the cost over a set period, you can keep your working capital available for other crucial business activities, such as payroll, inventory, and marketing.
Flexible Repayment Options: We offer flexible repayment terms that can be tailored to match your cash flow cycles, helping you manage your finances more effectively.
Access to the Latest Technology: Regularly update your equipment to the latest models and technology, ensuring that your business remains competitive without the need for substantial capital outlay.
Tax Advantages: The interest on your finance payments may be tax-deductible, and certain agreements can allow for the depreciation of the asset to be deducted from taxable income.

What Finance Options Are Available?

At Union Business Finance, we provide a variety of equipment finance options to suit different business needs and financial situations. Our options include:

Hire Purchase (HP)

Spread the cost of the equipment over a fixed term - sometimes up to 7 years.
A larger deposit and VAT are usually paid up-front, but your business has the flexibility to defer the VAT payment for up to 3 months if needed.
The lender retains ownership of the asset during the agreement term, but you will own the equipment outright once all payments have been made.

Finance Lease

You have the option to spread the cost of the equipment over its useful life, as agreed in the repayment terms.
While you do not own the equipment, you are responsible for maintenance and insurance and will face fewer restrictions on its use.
At the end of the lease term, you can choose to continue leasing the equipment or purchase it at its residual value.
If any damage has occurred to the asset during its lease, additional fees may be applied.

Operational Lease

A rental agreement where you pay for the use of the equipment over a shorter period of time, returning the equipment at the end of the agreed term.
Depending on the specifics of the operational lease contract, the insurance may be covered by the lender, but there will be limitations on the equipment’s use.
Ideal for businesses that need equipment for a specific project or a limited time frame, saving them from having to pay large amounts for short-term asset use.

Case Studies

Bun Squad

Three types of burgers arranged on a wooden table, highlighting their diverse toppings and flavors.

How UBF Helped An American Diner Keep Their Cool - and Their Business Running.

Client: Bun Squad Ltd
Business Type: Restaurant.
Location: High Wycombe, Buckinghamshire.
Funding Need: New Refrigeration Equipment.
Solution: Asset Finance - Equipment Finance spread over 36 months.

View case study

Freight Minds

How UBF Helped Freight Minds Expand Operations with a Smart Funding Solution

Client: Freight Minds Ltd
Business Type: International Logistics Provider (Events & Entertainment Industry).
Location: London Heathrow, UK.
Funding Need: £200,000 Equipment & Security Upgrades.
Solution: Asset Finance – Specialist Equipment Finance.
Loan Amount: £260,000.

View case study

How Does Our Equipment Finance Work?

Consulting

Let’s talk about where your business is, and where you want it to be.

Pre-underwriting

Send us your supporting financials for us to review, and we’ll get a proposal sent for credit approval.

Paid out

72 hours later, once approved, and signed on the dotted line, funds will be released.

Our application process is designed to be as easy as possible, giving you quicker access to funds, as and when you need them most. Get in touch with us through our online form, or give us a call at 01788 892 002 to speak to one of our expert account managers, ensuring that you get the most from your equipment finance needs.

Get started

Equipment Leasing vs Buying

One of the biggest questions business owners ask when it comes to equipment finance is “Should I buy or lease equipment?”. Whilst no “blanket” answer applies to every business, there are several important points to consider. Leasing offers lower initial costs and flexibility, allowing businesses to upgrade or return equipment at the end of the term, often including maintenance in the agreement. Additionally, lease payments may be fully deductible as a business expense.

On the other hand, buying equipment provides complete ownership, potentially resulting in long-term cost savings if the equipment has a long useful life. Ownership also allows businesses to claim depreciation as a tax deduction, and use the equipment as a business asset for collateral in future financing.

Why Choose Union Business Finance?

Our team of account managers are passionate about supporting your business goals and promoting scalability through specialist equipment and innovation through the latest technology.

We offer:

Access to a portfolio of funding options from 100+ lenders
More than 10 years of experience
Loans from

£10,000

to over

£5m.
5* service every time
Interest rates from as low as

7%

Our services are:

Transparent - Understanding your businesses values & providing you with the knowledge you need to make the right decision for you
Ethical - We always have the client's best interests in mind
Personable - We focus on building relationships with our clients that are reliable & honest

Our team brings a wide range of experience, thorough knowledge & understanding of the financial climate in order to help you find the best funding solutions.

FAQs

What is an equipment finance broker?

An equipment finance broker is a specialist who helps businesses obtain financing for purchasing or leasing equipment. They work with multiple lenders to find the best financing options tailored to your specific needs and financial situation. By leveraging their expertise and industry connections, they can secure competitive rates and terms, making the process of acquiring equipment more efficient and cost-effective.

What is the minimum amount you finance?

At Union Business Finance, we understand that every business has unique needs. Therefore, we offer flexible financing solutions with a minimum amount, typically starting at £10,000. This allows us to support a wide range of businesses in acquiring the necessary equipment to grow and succeed.

Who is eligible for equipment finance?

Eligibility for equipment finance is broad, encompassing a variety of businesses across different industries. Generally, to qualify, your business should be operational for at least six months, demonstrate a stable revenue stream, and have a reasonable credit history.

Can I get equipment finance with a bad credit score?

Yes, it is possible to obtain equipment finance with a bad credit score. While a strong credit history can make the process easier, we understand that many businesses face financial challenges; we will assess your overall business health and potential, not just your creditworthiness. However, a better credit score will often provide more favourable terms, so you should aim to improve this wherever you can.

Is equipment finance different from asset finance?

Yes, equipment finance is a subset of asset finance. While asset finance refers to a broad category of financial products designed to help businesses acquire assets (such as property or intangible assets), equipment finance specifically focuses on funding for the purchase or lease of business equipment.

Can I use equipment finance to buy used equipment?

Yes, you can use equipment finance to buy used equipment. Many businesses find that purchasing pre-owned equipment is a cost-effective way to acquire the tools they need. Our finance solutions are flexible, to cover new or used equipment, depending on which is more appropriate for your daily needs.

Don’t Let Your Business Reach a Stand-Still - Choose Union Business Finance to Gain Vital Equipment

Our expert team at Union Business Finance understands that accessing new equipment is important for business growth, but that this equipment can be costly. However, we have the perfect solutions to combat this. Contact us today to discuss our range of funding options to find the best resolution for your business.

Equipment Finance

What Is Equipment Finance?

Finance Calculator

Request a call back

How Equipment Finance Works