Trusted financial services provider in the UK

Business Finance

Equipment finance

Spread the cost of essential business equipment instead of making a large upfront payment. Somerset Financial can help you explore finance options suited to your equipment and business requirements.

Finance at a glance

Key details to help you understand this finance option at a glance.

Purpose

Purchase machinery, technology and specialist business equipment

Finance amount

Subject to equipment value, affordability and lender criteria

Finance term

Flexible terms depending on the equipment and provider

Suitable for

Businesses purchasing or upgrading equipment while preserving working capital

Key note

Finance is subject to status, affordability, asset suitability and lender criteria.

What is equipment finance?

Equipment finance allows businesses to obtain machinery, technology or specialist equipment while spreading the cost over an agreed period. It can reduce the need for a large upfront capital expenditure and may allow a business to start using revenue-generating equipment sooner. The available finance structure will depend on the equipment, supplier, business circumstances and lender requirements.

How does equipment finance work?

The finance is arranged around the equipment your business needs and its ability to meet the repayments.

Choose the equipment

Identify the machinery, technology or specialist equipment required.

Review the requirement

Assess the purchase cost, intended use and circumstances of the business.

Explore finance

Consider appropriate finance options from available lenders.

Complete the purchase

Subject to approval, the finance is completed and the equipment can be supplied to the business.

What can equipment finance be used for?

Equipment finance can support investment across a wide range of UK industries.

Manufacturing machinery

Production lines, fabrication equipment and other industrial machinery.

Construction equipment

Plant, specialist tools and equipment used on construction projects.

Technology

Computer systems, communications equipment and specialist technology.

Hospitality equipment

Commercial kitchens, refrigeration and other operational equipment.

Specialist equipment

Sector-specific equipment required to deliver your products or services.

Benefits of equipment finance

Equipment finance can help businesses invest without using all available cash reserves.

Spread the cost

Pay for equipment over an agreed period instead of funding the entire purchase upfront.

Preserve working capital

Retain cash within the business for operational and unexpected expenses.

Invest in productivity

Access equipment that may improve capacity, efficiency or service delivery.

Plan repayments

An agreed repayment structure can make financial planning more predictable.

Is equipment finance suitable for your business?

It may be appropriate where equipment is important to business operations but purchasing outright would place pressure on cash flow.

Growing companies

Businesses increasing production or service capacity.

Businesses replacing equipment

Companies upgrading ageing or inefficient machinery.

Capital-intensive industries

Businesses where machinery and specialist equipment represent significant expenditure.

The Somerset process

A straightforward, supportive process from initial discussion to completion.

01

Understand

We take time to understand your business, your goals and your finance requirements.

02

Explore

We assess your requirements and explore suitable finance options from available lenders.

03

Apply

We support you through the application process and liaise with the lender as required.

04

Complete

Once the finance is approved and completed, you can move forward with your business plans.

Why Somerset Financial?

Straightforward support to help you explore suitable business finance options for your circumstances.

Finance options explored

We help you explore finance options based on your business requirements and circumstances.

A personal approach

We take time to understand your business, objectives and funding requirements before exploring suitable options.

Tailored to your business

Finance requirements vary from business to business, so we focus on options relevant to your individual circumstances.

Clear guidance

We explain the available options and process clearly, helping you make an informed decision.

Support through the process

We support you through the application process and liaise with the finance provider where required.

Focused on your objectives

Whether you are investing, replacing equipment or managing cash flow, we focus on finance options aligned with your business objectives.