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your ultimate one-stop-shop for machinery finance

buy that much required machine on finance and grow your production

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Whether you’re replacing worn-out machinery or getting ready for an increase in your plant’s production, buying new equipment is an important event for your business. That’s why you need the right financing behind you to ensure you get the machinery to increase your production and keep your manufacturing supply lines rolling out.

LoanTube works with our UK lenders to give you the affordable finance you need to get the equipment your business needs.

What is Machinery Finance?

If you have a manufacturing business, buying plant equipment outright can cost a lot. Even if your business works in services rather than manufacturing, you’ll still need to buy and replace pricey equipment. That’s where machinery finance helps you cover the costs.

Equipment finance allows you to buy or lease equipment and machinery and spread the cost over a fixed term. This makes the repayments more affordable for you. What’s more, the lender usually uses the machinery you buy as security, which means it takes on less risk of default and gives you lower interest rates.

What kinds of Machinery Finance can you get?

Every business is unique, but all UK businesses need access to extra finance from time to time.

Hire Purchase of Machinery and Equipment

If you eventually want to own your new machinery outright, you can use machinery finance to buy it with a hire purchase agreement (HP). This means you buy your machine with a loan which is secured against the machine. You then pay the loan and interest back to your lender in monthly installments at fixed intervals. When you repay the loan in full, the lender removes it’s charge from the machine. You can then keep the equipment, sell it or otherwise do with as you like. With HP, you’re responsible for all the insurance and maintenance of the machinery while you’re making the repayments. You can’t sell the machine unless the lender’s charge is removed from it.

Machinery Finance Leasing

If you’d prefer to lease your machinery rather than buy it outright, you can use machinery finance to fund a lease agreement. If you do this, the lender buys the machinery for you and you lease it back from them. Usually, this gives you cheaper monthly repayments as you are only paying off the depreciation and interest, and you won’t own the assets at the end.

When you take out a finance lease, it’s usually up to you to keep your machinery in good condition during the lease. You can return it at the end of the lease and upgrade, but it should be in great condition or you may face penalties. You also have the option to buy it from the lender by paying a single balloon payment which is agreed in advance. Machinery Finance Leasing is more like renting with a buy option, where the Lender remains the owner of the machine, unless you exercise your buy option and pay the pre-agreed balloon payment.

Operating Leases and Contract Hire

Often used for heavy plant machinery, an operating lease (or contract hire) is more like pure renting with no buy option. With operating leases, you make fixed monthly payments and then return the machines to the lender with a final payment based on their value. Usually, the lender will maintain the machines themselves, it’s the lender who remains the owner of the machine always.

What can you buy with Machinery Finance?

Our UK lenders offer machinery financing options for every stage of your business’s growth. Whether your business offers consultancy, and you need new computers, or you’re in manufacturing and production, and you require an entirely new plant, you could finance it with a machinery finance loan.

Usually, you can finance any of the equipment your business needs to run with machinery finance. Depending on what your business does and the kind of things you need, you might borrow to fund the purchase of:

Hand tools
Heavy equipment
Plant machinery
Cars, vans and lorries
Computer equipment
Manufacturing equipment
Office equipment

What kinds of businesses get Machinery Finance?

Machinery finance is open to any kind of business that needs machinery and equipment for growth. These are some of the types of businesses and how they use their finance:

Catering : If you have a fast-moving catering business and need to grow, you can borrow to get the equipment and machines you need. Whether you need vehicles to transport you and your staff to the next event, or gleaming kitchen equipment to turn out orders, you can fund it through machinery finance.

Construction and manufacturing : When your construction company is ready to increase supply, machinery finance gives you access to the plant and the heavy machinery you need. You can fund new loaders, lorries or even an entire high-tech production line for your plant.

Services : While you may not need heavy machines, if you’re based in services or professional services, you can still use machinery finance to get the computer, office and other equipment you require.

Leisure and gyms : Give your customers the latest sporting equipment without paying high, upfront purchase costs. Funding gym and leisure equipment through machinery finance can make sense for many gym owners and leisure providers.

How much does Machinery Finance cost?

Whether you are buying on Hire Purchase, leasing or funding your purchase through a secured loan, machinery finance usually offers lower rates than an unsecured loan. As the machinery you buy is put up as security, there is less risk to the lender and the repayment interest is usually lower. Furthermore, you can use machinery finance to fund equipment purchases for several years, meaning you can spread out the cost and manage your monthly budget.

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Representative Example

Loan Amount


Loan Term

3 Years

Total repayment


Monthly repayment





14.4% p.a (fixed)

*The rate you get will depend on your individual, financial circumstances. Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK.

How does Machinery Finance work?

With machinery finance, the lender arranges your loan so that you can get your new equipment through:

Hire Purchase
Finance Lease
Contract Hire or Operating Lease

You then pay a fixed repayment to the lender in regular instalments. Depending on the type of finance agreement you take out, you either own the machinery outright at the end, return it, or buy it with a balloon payment.

What are the Pros and Cons of Machinery Finance?


Get fast access to the machinery you need
If you need new equipment for your business to grow production, you can finance it easily
Interest rates are usually low as the lender uses the machinery and equipment as security
Depending on the type of finance you get, you can upgrade your machinery, keep it at the end of the finance period, or hand it back


It can be harder to get cheaper, second-hand equipment
You will need to keep repayments for the duration of the finance agreement
With lease finance, you don’t own the machinery, and it’s up to you to keep it in excellent condition for when the lease ends
The equipment belongs to the lender while you’re paying your loan

How to apply for Machinery Finance using LoanTube

There are so many types of machinery finance and loan options in the United Kingdom, it’s hard to know where to begin. That’s where our team of experts have your back on every step of your business’s journey. We’re committed to working with businesses and lenders to give you the right kind of machinery finance for your needs. Whether you’re a caterer who needs to Hire Purchase a new kitchen, or a plant owner looking for an operating lease for a new fleet of cranes, we’ll find the best lenders for you. What’s more, we’ll explain your options and make sure you’re happy with your loan and the repayments.

Applying to LoanTube is easy

Send your enquiry through our easy, online system today
We contact our best lenders to find your perfect match
Talk to our loan-broker experts to make sure you have the right finance for you
Sign the contract
Get your equipment

Business loans to cover your every need

Supporting all your financial needs through thick and thin.
Fill up a quick application to find best loan deals for your:

Business Expansion


Working Capital

Bills payment

Stock Purchase

Machinery Purchase

Other Purposes

Why apply business loans with LoanTube?

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Experience hassle-free borrowing and unmatched transparency with LoanTube

Loans from £5,000 to £500,000

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Can you buy second-hand manufacturing or plant equipment?

Because lenders use the machinery you buy as security, many will only allow you to buy new assets with your finance. But there’s still a lot of good-quality, second-hand equipment your business might want to buy. Fortunately, some lenders make extra checks on used equipment and then allow second-hand purchases. Contact our credit broker experts for a personal overview of loans open to you and your business.

Is machinery finance better than buying outright?

Many businesses use machinery finance because it gives them an affordable, low-cost loan to purchase equipment. Rather than sink all your cash reserves into buying manufacturing equipment, you can keep assets for later growth and offset the cost over the years. That leaves you with money to expand and make your business grow, rather than investing it all in machinery early on.

How long can you get machinery finance for?

The length of time you can extend your borrowing varies, depending on your lender and the value of the equipment and machinery you want to buy. Most lenders will give you a loan for up to 7 years. This may be less if the machinery you buy loses its value fast or is likely to become worn out quickly.

Can I buy software with machinery finance?

Software finance is growing in popularity though not all lenders offer this. If you need a new software package to handle orders or manage your digital business, then contact LoanTube and let our friendly loan brokers take you through your options.

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LoanTube helps UK firms access business finance through multiple direct lenders. We are an introducer and do not provide loans ourselves.

Think carefully before securing debts against your home or your assets. Your home and assets may be repossessed if you fail to keep up with repayments on debts secured against it.

All loan approvals & quotes are subject to credit checks and affordability requirements by lenders. If your business meet the lender’s criterion, you can borrow the money. We as a broker make an attempt to process your application with the most suitable lenders in our panel.

LoanTube is a credit broker and not a lender.

Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK

Representative APR Example

The rate you are offered will depend on your individual circumstances.

Representative APR Example: Amount of credit: £50,000 for 24 months at £2,339.38 per month. Total amount repayable of £57,348.69 Interest: £7,348.69 Interest rate: 14.4% pa (fixed).

14.4% APR Representative. Loan term lengths between 3 and 60 months.

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