Get a deal up to 50% cheaper than a term loan with asset finance

To be eligible to apply for asset finance through Funding Circle your business needs to:

1. Be based in the UK
2. Be a limited company or LLP
3. Have at least 1 year of trading history

1. Have an annual turnover of at least £50,000

If you are not a limited company or LLP, you can still apply for a business loan

We welcome enquiries for all types of assets. Some of the most popular are:

1. Equipment - Manufacturing, Production, Engineering, Agricultural, Forestry, Waste and Recycling, Materials Handling
2. Plant and Construction - Industrial Plant & Machinery, Road Plant, Forklifts, Access Platforms, Cranes & Pavers, Diggers
3. Transportation - Heavy Commercial Vehicles & Trailers, Cars and Light Commercial Vehicles (including Business Fleets and Car and Van Rentals), Buses & Coaches

1. Machinery - Machine tools (metal engineering and plastic production), Bespoke Manufacturing Machinery, Packaging and Other Production
2. Green Energy - Solar panels, Biomass generators, Wind turbines, Heat Pumps, LED lighting, Battery Storage

Yes, you can apply for asset finance to borrow against any existing assets such as vehicles, machinery or other equipment valued at £10,000 or more. The asset is used as collateral for the loan, and could help you get a lower interest rate than an unsecured business loan.

Depending on your needs, our panel of trusted asset finance providers could help you take out a range of different products, including:

1. Hire purchase — Allows you to pay for an asset in instalments over a set period, typically at a fixed interest rate, and own it at the end of the term. Your repayments will cover both the original cost of the asset and interest.
2. Finance lease — Allows you to lease a piece of equipment and use it over a period of time. Your finance provider will hold ownership of the asset, but you’ll receive exclusive use of it. Payments will cover the original cost of the asset and interest. At the end of the term, you can either renew your lease, or return the asset to the provider.
3. Asset refinance — Allows you to raise capital using your existing assets as security. This means you can borrow a lump sum, then make monthly repayments over a fixed term to pay it back. Any assets you put up as security will need to be owned by the business outright.

Thanks to capital allowance tax breaks, you could deduct the full cost of qualifying vehicles, machinery and equipment from your taxable profits, saving you up to 25% on the cost of your new asset.

Electric and emission-free vehicles are also eligible for 100% tax relief. Find out more.

Please note, tax relief depends on your business type and the asset you want to finance. More information can be found at gov.uk/capital-allowances. If you are unsure please speak to an accountant or tax advisor. Funding Circle does not provide financial, legal or tax advice.