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Asset Finance
Equipment, vehicle and machinery finance for your business without disrupting cash flow. Or unlock money from assets you already own.
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How can asset finance help my business?
Most businesses need assets like equipment, machinery or vehicles to operate. Asset finance is an easy way to fund what you need to keep your business running and help it grow.
Instead of paying the full amount up-front when you buy or replace items, asset finance allows you to spread the cost over time. Monthly payments make it easier to manage the cost of large purchases without tying up your cash. You can even use asset finance to release money from recent purchases as well as future ones.
Benefits of asset finance
What do you want to finance?
What type of asset finance is right for you?
There are different ways to fund your asset. This depends on what type of asset it is, whether you’re buying new or used, and if you prefer to hire the asset or purchase it at the end of the agreement.
Business Hire Purchase
Our most popular car finance option helps you spread the cost.
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Option to own at end.
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New or used.
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Fund up to 90% of price.
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12 to 60 months.
Finance Lease
An affordable way to lease cars without owning them.
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Option to own at end.
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New or used.
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Fund up to 90% of price.
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12 to 60 months.
Vehicle Contract Hire
A cost-effective way to lease brand-new cars without owning them.
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Return vehicle at end.
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New only.
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No deposit.
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24 to 60 months.
Other types of asset finance
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If you’ve bought:
- equipment
- machinery
- vehicles
using cash or your overdraft in the last six months* then we can lend you up to 90% of the value of that purchase.
You can then repay us over a period of 12 - 60 months. Once all repayments are made, you will own the asset again.Note you must be VAT registered.
*Three months if you’re in Scotland.
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Pay a lower interest rate on repayments, if your asset meets our qualifying green purposes, with Lloyds Bank’s Green Asset Finance.
This funding supports projects with a positive environmental impact.
It can be used for:
- Electric vehicles
- Solar panel and battery storage
- LEDs
- Wind turbines
- EV charging
- Biomass boilers
The discount is available for five years on assets valued at over £25,000.
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Protect your business when buying equipment and machinery from outside the UK for £100,000 or more.
You can spread the cost over an agreed time period. We will only pay the supplier when they meet their obligations.
This helps protect your investment, and means your cash flow is not significantly impacted by the purchase.
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A flexible way of financing Professional Indemnity Insurance premiums without disrupting cash flow.
Designed for legal or accountancy practices, this type of asset finance allows you to pay for Professional Indemnity Insurance premium costs over a year, making renewals easier to manage. Funding starts from £25,000 to a maximum of £3 million.
Why choose Lloyds Bank for asset finance?
Frequently asked questions
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An asset can be anything a business needs, from vehicles and equipment to machinery and technology. What you need depends on the type of business you run, but assets usually include everything you don’t sell to customers.
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We can fund a range of assets such as:
- Transportation: HGVs, buses and coaches, trailers, cars, marines.
- Agriculture: Tractors, combines, biomass, forestry, automation, and livestock trailers.
- Technology: ICT, software, services, telephony, printers, business equipment.
- Manufacturing: Standard plant and machinery, production lines, CNC machines, robotics, automation.
- Construction: Standard construction and plant hire equipment, diggers, bulldozers, demolition drills, cranes.
- Renewables: Small scale renewables, solar panels, air source heating, biomass boilers, Combined Heat & Power (CHP).
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Sale & Hire Purchase (HP) Back allows you to initiate new Hire Purchase agreements against assets you’ve recently purchased and paid for in full.
Providing the equipment was purchased no more than six months ago* it can be sold to Lloyds Bank at its full non-depreciated value and hired back to you. This can release cash back into your business with no impact on your day-to-day control of the asset.
*Sale & HP Back can be used to finance goods acquired by you within the last six months in England and Wales, and under Scottish Law within three months.
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The easiest way to apply for Hire Purchase is by getting a free quote.
- Tell us how much you want to borrow, and we’ll give you an indicative quote.
- If you’d like to discuss your quote, we’ll ask for some information about you and your business.
- We’ll call you to discuss your quote and your business requirements. We’ll then give you a decision.
- We’ll contact the supplier and arrange the purchase.
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Asset finance solutions are used solely for leasing or buying a specific agreed asset. Asset finance looks to the value of the asset as the security for the finance you need to borrow to lease or buy it. At the end of your agreement, you’ll have different options including owning your asset, returning it, selling it or extending your lease.
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Pricing is tailored on the asset you want to buy or lease.
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The Full Expensing scheme lets businesses deduct some or all of the asset’s value from profits before tax is applied.
This means you can save money on your tax bill.