| Representative APR | Amount | Term | Type |
|---|---|---|---|
| — | £5k–£5M | 12–84 mo | business |
Best For
UK-based businesses requiring substantial financing for equipment or vehicles and can provide collateral.
UK-based businesses that need significant financing for vehicles or equipment and can provide the necessary collateral.
Close Brothers Asset Finance provides business loans between £5,000 and £5,000,000 with terms of 12 to 84 months, specialising in equipment and vehicle financing.
Pros & Cons
Watch Out
Approval requires the asset to be financed as security, which may not suit all businesses.
Full Review
This service for its impressive loan range of £5,000 to £5,000,000, which caters to small and large businesses alike. The 1-3 day approval time is notably efficient, allowing businesses to access funds quickly. However, the requirement for the financed asset to serve as security can pose a challenge for companies without sufficient collateral.
Customer service experiences are generally positive, but as with any lender, some users report communication delays during peak times. that while the terms are flexible, the interest rates can vary significantly based on the asset and business profile, so reviewing the official site for the most accurate figures is advisable. Unlike some competitors, Close Brothers offers both hire purchase and lease options, allowing businesses to choose the most suitable financing method.
Nonetheless, companies with lower credit scores may face higher costs or more stringent approval processes. Overall, this provider is those needing substantial asset financing, but always assess the risks involved with asset-backed loans.
What Borrowers Say
Customers generally appreciate the quick approval times and the flexibility of financing options, though some mention communication issues during busy periods.
