Investing in capital assets allows businesses to grow. But it can be a significant drain on your company's working capital, Asset Finance can help.

What assets can your business acquire?

  • Plant & machinery
  • Cars, buses and coaches
  • Heavy/light commercial vehicles
  • Commercial vehicle trailers
  • Agricultural equipment
  • Construction equipment
  • Medical equipment

Funding options

Hire Purchase

Hire Purchase should be considered if you want to secure full ownership of the asset at the end of the finance period and avoid making a lump sum payment upfront. You get use of the asset after the payment of an initial deposit, followed by regular rental payments over an agreed fixed term.

How Hire Purchase works

Finance Lease

A Finance Lease enables you to rent an asset and use it without having to buy the asset. We will purchase the asset on your behalf and lease it to you for a series of regular rental payments over an agreed term. Typically the rental payments cover the majority of the cost of the asset plus interest. When it is sold at the end of the rental period, you receive the majority of the sale proceeds.

Will I own the asset? Do I need to pay an upfront deposit? Is the agreement over a fixed term? Can the term be extended? Can I have a fixed or variable rate?
Hire Purchase Yes Yes Yes No Yes
Finance Lease No No Yes Yes Fixed rate only

The benefits of Asset Finance

  • You get to acquire a wide range of business critical assets essential to your business.
  • You avoid the need to make lump sum payments and instead fund the acquisition over an agreed period of time, protecting your working capital.
  • Helps you fund the acquisition of additional equipment and replace assets coming to the end of their useful life, maintaining or improving your competitiveness and productivity.

Is my business eligible for Asset Finance?

  • You must turnover more than £100,000 pa
  • The asset must be for use in your business
  • You must have been trading for a minimum of 12 months
  • The business must be UK based.

Why choose Lloyds Bank?

  • Responsiveness – a prompt response to your funding requests.
  • Flexible – we offer a range of loan terms and initial deposit levels.
  • Expertise – a Relationship Manager dedicated to your needs.
  • Specialist sector support across construction, engineering, manufacturing, plant hire, printing, transport, business services and professional practices.

We’ve been helping fund assets for over 40 years – driving forward business growth. We’ll help you find the funding package that supports your business ambitions.

Support for you

Why choose us?

Work with specialists who understand your sector and support you with all the financial tools you need.

Find out more (Why choose us?)

Finance & Leasing Association

The Finance & Leasing Association is the leading trade body for the asset, consumer and motor finance sectors in the UK.

Visit site (Finance & Leasing Association)

Get a quote

Hire Purchase calculator

Tell us how much you want to borrow, or the amount you want to pay each month and we’ll give you an indicative quote.

Launch calculator (Hire Purchase calculator)

Video case study

See how Hire Purchase has helped Fruitapeel open up new markets.

© Copyright Lloyds Bank Commercial Finance 2017

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

Lloyds Bank Commercial Finance Ltd. Registered office: No.1, Brookhill Way, Banbury OX16 3EL. Registered in England and Wales no.733011.

Lloyds Bank Commercial Finance Scotland Limited, Registered in Scotland no. 93252. Registered office: 110 St Vincent Street, Glasgow, G2 5ER.

Lloyds Bank Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority under registration number 724228 for activities relating to certain types of consumer credit which are regulated under the Consumer Credit Act 1974 and by the Financial Services and Markets Act 2000. We are not deposit takers and are not regulated by the Prudential Regulation Authority.

When using Asset Finance your agreement will be with a Lloyds Banking Group company whose terms and conditions will apply. The provision of credit or leasing services by us is subject to your meeting our Credit approval. Please ensure that you only apply for credit or leasing services that you can comfortably afford.