Equipment Finance | Machinery Finance - Fleximize

Equipment Finance

Secure the equipment financing you need with our flexible alternative to traditional lenders

Having the right equipment is key for your business, whether that’s machinery, vehicles, software, or any other tool that helps get the job done. If a piece of equipment breaks, or there’s an opportunity to upgrade, you'll need readily available funds to keep your operations running in peak condition.

Equipment hire and purchase stalled during the Covid-19 pandemic, but many companies are looking to invest once again. According to the Finance & Leasing Association, new business levels were up by 11% in October 2023, compared with the same month in 2022.

If you require newer or better equipment to expand your business, you may be assessing your financial position. Many borrowing options can help you make a large, one-off purchase or service rental costs, so it’s important to understand which is right for you. You might find that conventional equipment finance products aren't suitable, in which case Fleximize could prove the perfect solution. Read on to find out more.

Looking For Funding? Let's Talk.
Looking For Funding? Let's Talk.

If you want to know more about how we can support your business, give our friendly team a call and you'll get straight through to someone who can help, like Izzy. Or, if you're ready to apply, get started by clicking the button below.

What is equipment finance?

Equipment finance enables you to acquire the equipment you need to achieve your growth goals. It's a type of asset finance that allows businesses to spread the cost across monthly repayments, during which they benefit from use of the equipment. By avoiding upfront payments, you can better preserve your cash flow.

A standard equipment finance provider will usually secure the loan against the asset itself. This can aid affordability, but it also means that vital equipment can later be recovered by the lender.

What types of business might need equipment finance?

Equipment loans may be suitable across a wide range of sectors. These businesses could include:

  • Breweries
  • Hotels
  • Farms
  • Manufacturers
  • Gyms
  • Pubs
  • Hauliers
  • Restaurants
  • What are the different types of equipment finance?

    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 time without taking on any repair or maintenance costs. With a finance lease, also known as a capital lease, you borrow the asset for much of its lifespan, so these are longer-term arrangements. You also take on many of the costs of ownership.

    Hire purchase

    As with 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 the long term.

    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 finance.

    Equipment loans from Fleximize

    Our fast, flexible funding can be used for almost any purpose, making it a great substitute for traditional equipment or machinery finance. You can choose between unsecured and secured options with our Flexiloan and Flexiloan Lite. So that you can move quickly to secure your much-needed assets, we’ll endeavour to have the money in your account within 24 hours. Here’s a summary of the key features of Fleximize’s business loans:

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

    Trustpilot

    Apply for a business loan

    What can a Fleximize business loan be used for?

    Unlike a typical equipment loan from an asset finance lender, Fleximize’s funding can support growth across your business as a whole. In addition to your equipment needs, your funds could go towards:

  • Recruitment
  • Cash flow
  • Website development
  • VAT payments
  • Stock purchase
  • Staff training
  • Expanding your premises
  • Marketing activities
  • Check your eligibility for equipment finance in the UK

    We're different to other finance providers in that we don't apply strict lending criteria. However, there are some basic requirements you'll have to meet. To qualify for Fleximize's answer to equipment finance, you'll need to:

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

    How much does equipment or machinery finance cost?

    Interest rates on our equipment loans start from just 0.9%. Some lenders charge additional fees for paying ahead of schedule, but our Penalty-Free Promise means you’ll have no such concerns. Therefore, you can make significant savings with over or early repayments. Your dedicated relationship manager will make any costs apparent from the start, and you can reach out to our team anytime with questions about your repayments.

    You can use our business loan calculator to estimate the overall cost of your equipment finance. However, if you want a member of our team to build you a tailored quote, give us a call on 020 7100 0110.

    Why choose Fleximize?

    Since 2014, we’ve lent over £350 million to thousands of SMEs nationwide. Here are just five reasons why business owners come to us for equipment finance in the UK:

    How our business equipment loans have helped others

    Natalie, founder of the luxury pet retailer The Lounging Hound, came to Fleximize for a small loan so she could buy more fabrics for her pet-friendly products. We were able to offer a £15,000 business loan to be repaid over 24 months, which helped Natalie to diversify her product range and upscale her business. Learn more about her story below.

    Customer Success Stories - The Lounging Hound


    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, so why not complete our simple online form today. Providing you pass our initial checks, we could deposit the funds within 24 hours of receiving your documentation.

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