Name: Business Equipment Loans
Brand: Fleximize
Rating: 5 (1025 reviews)

Small business equipment loans

Ensuring you have the right equipment is key for your business, whether that’s machinery, vehicles, software, or any other tool that helps get the job done. It’s important to have readily available funds to keep your operations running in peak condition so that you’re covered if a piece of equipment breaks, or you want to snatch the opportunity to upgrade.

Many borrowing options can help with equipment rental costs or help you make a large, one-off purchase, so it’s crucial to understand which is right for your circumstance. You might find that conventional equipment finance products aren't suitable, and that’s where we come into play. Read on to find out about equipment finance and how to get a business equipment loan from Fleximize.

Funding in as little as 24 hours

Borrow £10,000 to £500,000

Repay early, repay less

1st class customer support

What is business equipment finance?

Equipment finance is a type of asset finance that allows a business to acquire a piece of equipment and spread the cost across monthly repayments. This is useful for avoiding upfront payments so you can better preserve your cash flow.

Apply online

Get a decision

Receive your funds

What type of business might need equipment finance?

Equipment loans may be suitable across a wide range of sectors. These businesses could include breweries, farms, gyms, hauliers, hotels, manufacturers, pubs and restaurants.

Equipment finance and how it works

Business equipment financing can typically be divided into two main forms: leasing and hire purchase.

Equipment leasing

Equipment leasing is where you rent the equipment for an agreed period, during which you make regular payments. Once the agreement ends, the equipment is returned without you ever taking ownership.

There are two main types of leasing: operating leases and finance leases. An operating lease is where you rent a piece of equipment for a short period without taking on any repair or maintenance costs. With a finance lease, also known as a capital lease, you borrow the asset for most of its lifespan, so these are longer-term arrangements. You also take on many ownership costs, such as servicing the equipment and the cost of maintenance.

Hire purchase

Like leasing agreements, hire purchase involves paying regular instalments over a given period, during which you have possession of the equipment. However, the key difference is that you’re paying to own the asset at the end of the term. This type of finance is particularly useful if the asset will retain its value in years to come.

If you’re struggling to find the right type of lease or hire purchase from traditional or specialist lenders, that doesn’t mean you’re out of options. Fleximize’s business loans could be the ideal substitute for conventional equipment or machinery finance.

Apply for a business loan

How to get a business equipment loan from Fleximize

Getting a business equipment loan from us couldn’t be easier, or better tailored to your business. We give you the option of choosing between unsecured and secured options with our Flexiloan and Flexiloan Lite products, depending on which is best suited to your business needs. We’re fast too, so once approved, we’ll endeavour to have the funds in your account within 24 hours so that you can move quickly to secure your much-needed assets. Here’s a summary of the key features of Fleximize’s business loans:

You could borrow between £5,000 and £500,000 to acquire the equipment you need
Our flexible terms range from 3 – 60 months
We provide you with unsecured and secured options, depending on your business circumstance
Interest rates from 0.9% per month and charged on a reducing balance
We could give approval and deposit in as little as 24 hours
We promise there are no hidden fees or early repayment penalties
Top-ups and payment holidays are available with all loans
We’ll give you exclusive discounts on industry-leading business services and tools via our Member Marketplace

Your equipment loan has to suit you and your business, which is why we work closely with our customers to create a tailored finance package containing flexible features available throughout the loan term. Our flexibility applies to our application criteria too. We aim to say ‘yes’ to as many businesses as possible, so we look at more than your credit history to make an overall assessment.

Loved by our customers

What can a Fleximize equipment loan be used for?

Unlike a typical equipment loan from an asset finance lender, the funding from Fleximize can support more than just acquiring an asset, but the growth of your business as a whole. We understand you probably have an idea of the equipment you need, so we've outlined a few additional areas you could put your funding towards:

Recruitment
Website development
Stock purchasing
Expanding your premises
Cash flow
VAT payments
Staff training
Marketing activities

How much does an equipment loan cost?

For an estimated cost of Fleximize's funding, try our business loan calculator below, which will give you an idea of how your monthly repayments could break down, or apply for a loan online for a more in-depth evaluation.

Flexiloan Flexiloan Lite

Our Flexiloan product is available to businesses trading for at least 12 months over a 12-60 month term.

months

Interest

£8,460.08

Total Repayment Amount

£58,460.08

Monthly Repayment

£3,247.78

Show potential savings through early settlement

Our Penalty-Free Promise means you won’t be charged extra for repaying early.

Find out just how much you could save through early settlement by adjusting the month of repayment in this section.

Your Loan Quote Summary
Full Settlement At
Total Repayable at Agreed Term	£58,460.08
Total Repayable if Repaid Early	£56,122.84
Interest Saving	£2,337.25

* Interest rates offered to new customers may vary from rates advertised due to variations in the Bank of England base rate and/or Standard Overnight Index Average (SONIA).

This estimate is based on a monthly interest rate of 1.70%, which may not reflect your final rate. Please apply online for a tailored quotation.

A representative example of a loan of less than £25,000: 40.8% APR representative, based on a fixed annual rate of interest of 34.7% and an assumed loan amount of £15,000 over 18 months; equating to monthly repayments of £1,080.67 and a total repayable of £19,452.06.

Our Flexiloan Lite product is available to businesses trading for at least 6 months over a 3-12 month term.

months

Interest

£3,472.16

Total Repayment Amount

£33,472.16

Monthly Repayment

£4,184.02

Show potential savings through early settlement

Fleximize is committed to its penalty-free promise for customers repaying early.

Find out just how much you could save through early settlement by adjusting the month of repayment in this section.

Your Loan Quote Summary
Full Settlement At
Total Repayable at Agreed Term	£33,472.16
Total Repayable if Repaid Early	£32,476.26
Interest Saving	£995.90

* Interest rates offered to new customers may vary from rates advertised due to variations in the Bank of England base rate and/or Standard Overnight Index Average (SONIA).

This estimate is based on a monthly interest rate of 2.50%, which may not reflect your final rate. Please apply online for a tailored quotation.

Check your eligibility for equipment finance in the UK

We're different from other finance providers such as banks in that we don't apply strict lending criteria. However, there are some basic requirements you'll have to meet. So to qualify for one of our business equipment loans, you'll need to:

Be a UK-based business registered with Companies House, or a sole trader or partnership applying for over £25,000.
Have traded for at least six months with a minimum monthly turnover of £5,000.
Be a homeowner, unless you're looking for a loan value under £20,000. If you're not a homeowner, your business must have been trading for 36 months or more.
We don't secure our loans against company assets, but like many lenders, we'll ask for a personal guarantee.

Your equipment loan terms will partly depend on the location of your business:

Businesses in England and Wales can apply for up to £500,000 on either a secured or unsecured basis.
If you're based in Northern Ireland and Scotland, we can offer unsecured loans only of up to £250,000.

How much does equipment or machinery finance cost?

With interest rates starting from just 0.9%, you can use our business loan calculator to estimate the overall cost of your equipment loan from us. Some lenders charge additional fees for paying ahead of schedule, but our Penalty-Free Promise means you’ll have no such concerns, meaning you can make significant savings with over or early repayments. You’ll also be assigned a relationship manager, who will be your main point of contact throughout your journey with us. They will make any costs apparent from the start, and you can reach out to them, or any member of our team, anytime with questions about your repayments.

To have a tailored quote built for you, give us a call on 020 7100 0110, and one of the team will be on the other end of the line - we can assure you there are no robots here, apart from five o’clock on a Friday!

Why choose Fleximize for your business equipment loan?

Since 2014, we’ve lent over £470 million to thousands of SMEs nationwide, but we’re not stopping there. Our mission is to empower small businesses to unleash the potential of their ideas, and we’re certain that with a business equipment loan from us, you can do just that. We’ve listed five reasons why SMEs like you chose to start their finance journey with us, take a look:

Flexibility: You can take advantage of top-ups, repayment holidays, and our Penalty-Free Promise to build a funding package that suits you.
Personal: Your dedicated relationship manager will be on hand to help you with anything you need. They’ll also be here if you return for repeat funding, as many of our customers do.
Award-winning: We’ve picked up plenty of industry acclaim, including being named Best Business Finance Provider at the British Bank Awards multiple times.
Fuss-free: Apply in minutes and, if you’re accepted, the money could be in your account within 24 hours.
Trusted: See from our customer reviews and case studies how we’ve helped small business owners just like you gain access to vital working capital.

Apply for equipment finance today

Equipment financing could be the difference between surviving and thriving for your business. Applying with Fleximize is a fast, fuss-free process - not one to stress over. Providing you pass our initial checks, we could deposit the funds within 24 hours of receiving your documentation. So fill out our application form today and you could have it done by the time the kettle's boiled for a cuppa!

If you'd like to know more about equipment or machinery finance and what Fleximize can offer, check out our FAQs or call 020 7100 0110 to speak to a friendly member of our team.

Apply for a business loan