- What is Asset FinanceBack
What is Asset FinanceClose Brothers Asset Finance offer a range of flexible funding options enabling you to purchase assets and grow your business.Find out more
- Hire PurchaseSpread the cost over time
- RefinancingWhen you need a cash injection
- Finance LeaseUser benefits without the ties of ownership
- Operating LeaseKeep your options open
- Assets for saleBack
Assets for saleHere at Close Brothers Asset Finance, we have a wide variety of used vehicles for sale, including ex lease vehicles and equipment.See our assets for sale
- Find your industryBack
Find your industryClose Brothers Asset Finance supports various industries across the UK. Click on your industry to find out how we can support your business.Our industries
Our manufacturing finance specialists work with businesses to provide finance solutions, such as commercial equipment finance and business funding, that fit the individual requirements of your business, whether it is a sole trader or a large-scale manufacturing operator
We provide financing solutions for a comprehensive range of manufacturing assets, including heavy equipment financing, leasing and loans.
We have a comprehensive understanding of manufacturing finance and the challenges and opportunities facing the industry.
We know how important it is for manufacturing businesses to get the financial assistance they need and have a strong track record in helping small and medium sized businesses secure vital finance for equipment and machinery.
Our manufacturing experts have detailed knowledge of the industry. You can rely on them to find an affordable way to spread the cost of the manufacturing equipment you need through tailor-made Hire Purchase, Finance Lease, Operating Lease or Refinance packages.
Get in touch to find out how we can help you.
Typical manufacturing assets we finance include:
- Machine tools
- Food processing equipment
- Robotic polishing cells
- Textile and embroidery equipment
- Vertical machining centres
- Robotic welders
- Punching machines
Contact us today
033 0029 5224
9:00am - 5:00pm Monday to Friday (excluding UK bank holidays)
Finance products we offer the manufacturing industry
What is Hire Purchase?
How Hire Purchase works
Hire Purchase is a great way to get what you need because you get to choose, use and manage the assets you need for your business over an agreed period, typically up to five years.
The regular instalments you pay as part of your agreement will cover:
- The asset's depreciation
- Interest on the cost of the asset
At the end of the term, you get to choose to buy the asset and own it outright.
Who is Hire Purchase for?
Hire Purchase is especially handy for:
- Businesses who want to keep control of their cash flow by knowing what their investments are going to cost them over the long-term, allowing them to budget effectively
- Purchasing ‘hard’ assets like vehicles, machinery, equipment and other assets with resale value
Advantages of Hire Purchase:
- More time to repay: By spreading the cost over the life of the asset, a benefit is that you can lower the initial up-front payment. This matters because it gives you a long-term view of the fixed monthly payments you will need to make over the term of the agreement, which – in turn- helps you with your budgeting
- Seasonality: If your business – like many others – has busy times and less busy times throughout the year, your monthly repayments can be adjusted in line with your sales peaks and troughs. For example, during the lead into the festive season your sales volumes might peak, but in the month or two after New Year, they fall back
- Keep control: With Hire Purchase, you're in charge. You get full use of the asset throughout the repayment period and may even claim capital allowance. Capital allowance is a type of tax relief that businesses can claim when they spend money on long-term assets for use in the business. You can deduct some or all of the value of the asset from your taxable profit
- Tax efficient: Financing your asset purchase through Hire Purchase can be tax-friendly because lease payments are treated as expenses, offering potential tax benefits compared to standard loans. Although asset depreciation also provides tax benefits, the useable lifetime of the asset will vary depending on the asset and on local regulation
- Reclaim VAT: If you're VAT registered, you may reclaim VAT. For details on VAT registration, visit gov.uk/vat-registration/overview
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
What is Refinance?
How Refinance works
Refinancing uses the value of assets you already own to help your business. With Sale and HP Back – a type of refinancing – you sell your equipment to us, and we lend you the money you need to invest in your business.
You pay us back in line with what the equipment earns for you. Once you’re done paying us back, you own the equipment again.
This works whether you own the equipment outright or are already financing it with someone else.
Who is Refinancing for?
Refinancing is for anyone looking to unlock the value of their existing assets to support their business. Whether you own equipment outright or are financing it elsewhere, refinancing can provide a quick way to access funds for things like new equipment, improving cash flow, or other business needs.
It’s a flexible option suitable for businesses of all sizes, including sole traders.
Advantages of Refinance:
- Get more cash easily: Asset refinancing is a quick and simple way to get extra money for your business needs. You get to keep using the asset you put up as security.
- Pay over a longer time: We can take over your current financing deal with another company and extend the time you have to pay. The costs are fixed, so there won't be any surprises while you're repaying the loan.
- Choose what's best for you: Use the cash injection for your business or buy other things you need. It's more flexible than some other financing options.
- Decide quickly: Getting cash from your assets helps you make faster decisions when dealing with business contracts. Use the money for hiring people, buying new things, or expanding your workspace.
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
What is Finance Lease?
How Finance Lease works
Think of Finance Lease as a long-term rental for business assets (or equipment, which is the same thing). Instead of buying the asset upfront, you pay rent to use it, with a flexible rental period to match your needs and cash flow fluctuations, which we know can change month-to-month. You cover the cost of the payments, including the agreed interest, for the duration of the rental period.
At the end of the initial lease, you have various options available to you:
- Keep on using: Continue leasing the asset by extending the rental period – otherwise known as a ‘secondary rental period’
- Sell and earn: You can sell the equipment and keep a share of what the asset is sold for
- Return: Give the equipment back to us if you no longer need it or want to upgrade to something newer
Who is Finance Lease for?
Finance lease is for businesses that need equipment but prefer not to purchase it outright. It's suitable for companies looking to use assets like machinery, vehicles, or technology without a large upfront cost. Whether you're a small construction firm needing a forklift or a larger operation needing specialist equipment, finance lease offers flexibility by allowing you to pay for the equipment over time while having the option to keep, sell, or return it at the end of the lease term.
Advantages of Finance Lease:
- Get what you need without a big upfront cost: You can quickly get the equipment you want without paying a large sum upfront. Instead, payments are broken into monthly instalments.
- Customise payments to match your cash flow: Work with us to adjust the rental payments and lease periods to match how and when money comes into your business.
- Earn money back: If you decide to sell the equipment at the end of the lease, you will get money from the sale.
- Tax Benefits: If your business is VAT registered, you only pay VAT on the monthly rental payments, not on the entire purchase price. This helps reduce your taxable profit, potentially saving you money on taxes. If your business is not VAT registered, you can spread the VAT cost by including it in your monthly rental rather than paying it as a one-off payment.
- For more information on VAT registration, please visit gov.uk/vat-registration/overview
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
What is Operating Lease?
How Operating Lease works
In common with Finance Lease, an Operating Lease lets you rent the asset from us for the duration you require it.
The main difference lies in the fact that an Operating Lease covers only a portion of the asset's total useful life meaning you pay a lower rental fee because it's calculated based on the difference between the asset's initial purchase cost and its residual value at the agreement's end.
You enjoy complete access to the asset for your required duration, without the obligation of managing its disposal or recovering its residual value.
Who is Operating Lease for?
Operating Lease is suitable for businesses that need equipment but prefer not to purchase it outright. It means you can use equipment, vehicles, or technology without a large upfront cost while paying a lower monthly rental fee.
Advantages of Operating Lease:
- Affordable start: Get the asset you need without a big upfront cost
- Complete usage freedom: Use the asset fully without buying it outright
- Flexible choices: Decide at the end of the term whether to re-rent, buy, or return the asset
- Lower payments: Rental cost is less because it's a percentage of the initial cost
- Cost savings: Reclaim VAT on rentals to reduce overall costs
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Hire Purchase What is Hire Purchase? How Hire Purchase works
Hire Purchase is a great way to get what you need because you get to choose, use and manage the assets you need for your business over an agreed period, typically up to five years.
The regular instalments you pay as part of your agreement will cover:
- The asset's depreciation
- Interest on the cost of the asset
At the end of the term, you get to choose to buy the asset and own it outright.
Who is Hire Purchase for?
Hire Purchase is especially handy for:
- Businesses who want to keep control of their cash flow by knowing what their investments are going to cost them over the long-term, allowing them to budget effectively
- Purchasing ‘hard’ assets like vehicles, machinery, equipment and other assets with resale value
Advantages of Hire Purchase: - More time to repay: By spreading the cost over the life of the asset, a benefit is that you can lower the initial up-front payment. This matters because it gives you a long-term view of the fixed monthly payments you will need to make over the term of the agreement, which – in turn- helps you with your budgeting
- Seasonality: If your business – like many others – has busy times and less busy times throughout the year, your monthly repayments can be adjusted in line with your sales peaks and troughs. For example, during the lead into the festive season your sales volumes might peak, but in the month or two after New Year, they fall back
- Keep control: With Hire Purchase, you're in charge. You get full use of the asset throughout the repayment period and may even claim capital allowance. Capital allowance is a type of tax relief that businesses can claim when they spend money on long-term assets for use in the business. You can deduct some or all of the value of the asset from your taxable profit
- Tax efficient: Financing your asset purchase through Hire Purchase can be tax-friendly because lease payments are treated as expenses, offering potential tax benefits compared to standard loans. Although asset depreciation also provides tax benefits, the useable lifetime of the asset will vary depending on the asset and on local regulation
- Reclaim VAT: If you're VAT registered, you may reclaim VAT. For details on VAT registration, visit gov.uk/vat-registration/overview
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Refinance / Capital Release What is Refinance? How Refinance works
Refinancing uses the value of assets you already own to help your business. With Sale and HP Back – a type of refinancing – you sell your equipment to us, and we lend you the money you need to invest in your business.
You pay us back in line with what the equipment earns for you. Once you’re done paying us back, you own the equipment again.
This works whether you own the equipment outright or are already financing it with someone else.
Who is Refinancing for?
Refinancing is for anyone looking to unlock the value of their existing assets to support their business. Whether you own equipment outright or are financing it elsewhere, refinancing can provide a quick way to access funds for things like new equipment, improving cash flow, or other business needs.
It’s a flexible option suitable for businesses of all sizes, including sole traders.
Advantages of Refinance: - Get more cash easily: Asset refinancing is a quick and simple way to get extra money for your business needs. You get to keep using the asset you put up as security.
- Pay over a longer time: We can take over your current financing deal with another company and extend the time you have to pay. The costs are fixed, so there won't be any surprises while you're repaying the loan.
- Choose what's best for you: Use the cash injection for your business or buy other things you need. It's more flexible than some other financing options.
- Decide quickly: Getting cash from your assets helps you make faster decisions when dealing with business contracts. Use the money for hiring people, buying new things, or expanding your workspace.
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Finance Lease What is Finance Lease? How Finance Lease works
Think of Finance Lease as a long-term rental for business assets (or equipment, which is the same thing). Instead of buying the asset upfront, you pay rent to use it, with a flexible rental period to match your needs and cash flow fluctuations, which we know can change month-to-month. You cover the cost of the payments, including the agreed interest, for the duration of the rental period.
At the end of the initial lease, you have various options available to you:
- Keep on using: Continue leasing the asset by extending the rental period – otherwise known as a ‘secondary rental period’
- Sell and earn: You can sell the equipment and keep a share of what the asset is sold for
- Return: Give the equipment back to us if you no longer need it or want to upgrade to something newer
Who is Finance Lease for?
Finance lease is for businesses that need equipment but prefer not to purchase it outright. It's suitable for companies looking to use assets like machinery, vehicles, or technology without a large upfront cost. Whether you're a small construction firm needing a forklift or a larger operation needing specialist equipment, finance lease offers flexibility by allowing you to pay for the equipment over time while having the option to keep, sell, or return it at the end of the lease term.
Advantages of Finance Lease: - Get what you need without a big upfront cost: You can quickly get the equipment you want without paying a large sum upfront. Instead, payments are broken into monthly instalments.
- Customise payments to match your cash flow: Work with us to adjust the rental payments and lease periods to match how and when money comes into your business.
- Earn money back: If you decide to sell the equipment at the end of the lease, you will get money from the sale.
- Tax Benefits: If your business is VAT registered, you only pay VAT on the monthly rental payments, not on the entire purchase price. This helps reduce your taxable profit, potentially saving you money on taxes. If your business is not VAT registered, you can spread the VAT cost by including it in your monthly rental rather than paying it as a one-off payment.
- For more information on VAT registration, please visit gov.uk/vat-registration/overview
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
Operating Lease What is Operating Lease? How Operating Lease works
In common with Finance Lease, an Operating Lease lets you rent the asset from us for the duration you require it.
The main difference lies in the fact that an Operating Lease covers only a portion of the asset's total useful life meaning you pay a lower rental fee because it's calculated based on the difference between the asset's initial purchase cost and its residual value at the agreement's end.
You enjoy complete access to the asset for your required duration, without the obligation of managing its disposal or recovering its residual value.
Who is Operating Lease for?
Operating Lease is suitable for businesses that need equipment but prefer not to purchase it outright. It means you can use equipment, vehicles, or technology without a large upfront cost while paying a lower monthly rental fee.
Advantages of Operating Lease: - Affordable start: Get the asset you need without a big upfront cost
- Complete usage freedom: Use the asset fully without buying it outright
- Flexible choices: Decide at the end of the term whether to re-rent, buy, or return the asset
- Lower payments: Rental cost is less because it's a percentage of the initial cost
- Cost savings: Reclaim VAT on rentals to reduce overall costs
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
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