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Tide has joined forces with Funding Options, becoming the largest credit marketplace in the UK. 

Providing over £1.1 billion in funding to more than 19,000 UK businesses, we’re on a mission to help business owners grow with confidence. 

Why use Tide to secure equipment finance?

From online applications to a wide range of lending partners, we’ve built a smarter way for limited companies to access the finance they need to thrive.

Apply online in minutes

Save valuable time by applying for a loan through our online process. Our intuitive application is designed to take just a few minutes, allowing you to bypass the paperwork and get back to growing your business in no time.

Compare options easily

Gain access to our network of over 80 trusted lenders to find the right fit. By comparing multiple offers in one place, you'll have a better chance of securing a deal that aligns with your specific business goals and cash flow needs.

Protect your credit score

Check your loan options with total peace of mind. We’ll perform an initial soft credit check to confirm your eligibility, allowing you to see what you qualify for without any impact on your credit rating or financial footprint.

Access a range of business finance options from our trusted partners

What are the benefits of using finance for equipment?

Grow faster

Get hold of essential equipment now to expand production and take on bigger projects without waiting to save up.

Maintain cash flow | Equipment finance

Spread the cost of new equipment over time and keep your cash flow free for day-to-day operational expenses.

Budget more easily

Plan ahead with predictable expenses using fixed monthly repayments that match the working life of your assets.

Improve tax efficiency

Potentially reduce your taxes, as certain types of equipment finance offer tax-deductible payments or VAT reclamation.

Apply now

Are you eligible for equipment finance?

To be eligible for any type of business loan or credit from Tide, you must:

  • Be over 18

  • Be a UK resident

  • Have a UK-based business

  • Have a UK bank account

What do you need to apply for equipment finance?

  • Basic information about your business, such as how old it is, and your annual revenue 

  • Information on directors and shareholders

  • Bank statements covering the past year

Depending on your business and the finance you need, the criteria may differ.

How to apply for business equipment financing

With access to over 80 lenders, Tide will find a lender tailored to your business - and the process is simple.

  1. Tell us how much you need to borrow We’ll ask you how much you need, what it’s for, and for some basic information about your business.

  2. Compare loans without impacting your credit score We’ll connect you to the largest network of lenders in the UK, so you can view affordable credit options that suit the unique needs of your business.

  3. Apply in minutes Once approved, you’ll receive a quote from a lender you matched with.

  4. Get a decision and credit is released Depending on the type of finance you’ve applied for, the money could be released to the equipment supplier in around 24 hours.

Apply now

What is equipment finance?

Equipment finance is a form of asset finance that’s used to pay for equipment over time (usually 1-5 years) rather than upfront. There are several types of equipment finance, including Hire Purchase (HP), Operating Lease (called Contract Hire for vehicles), and Finance Lease.

The lender usually pays for the equipment for you, or they may buy and lease it to you. In either case, you’ll pay the finance back through fixed, monthly instalments that include interest. You may have an option to buy the equipment outright at the end of the lease, or return it.

The finance is tied to the specific equipment you’re buying, like machinery or office equipment. The equipment acts as collateral (security), so if you can’t repay, the lender can take the asset back.

What can equipment finance be used for?

Machinery

Outdated or unreliable machinery can slow down production and frustrate your team. Equipment finance lets you upgrade or replace when necessary, so you can work faster, reduce downtime, and keep your operations running efficiently.

Construction equipment

Taking on larger projects or struggling to meet deadlines due to limited resources? Investing in specialised tools can help you tackle bigger jobs and work more efficiently.

Agricultural equipment

Manual labour and inefficient processes can drain your time and profits. Extra funds can help modernise your farm with the latest equipment, resulting in lower costs and higher yields.

Commercial vehicles

A small or ageing fleet can limit your delivery capacity. Spreading the cost over time makes it easier to add vans, trucks, or other vehicles, so you can improve your service and take on more work.

Office equipment

Slow computers, outdated software, or uncomfortable workspaces can hurt productivity and morale. Investing in office upgrades can help your team and your business goals.

Second-hand equipment

High upfront costs shouldn’t stop you from getting the tools you need. Access to finance can help you acquire reliable, pre-owned assets at a lower price, so you can grow your business without overspending.

Types of equipment financing

Hire purchase (HP)

Hire purchase lets your business use equipment while paying it off over time through fixed monthly instalments. The lender buys the asset and you hire it from them, owning it outright once you’ve made the final payment.

Hire purchase may be suitable if you want to own the equipment without paying for it upfront.

Operating lease / Contract hire

An operating lease (called contract hire for vehicles) is like renting equipment for a fixed period. Monthly repayments are typically lower than hire purchase, and you won’t own the equipment at the end of the lease. Maintenance and servicing is often included in the deal.

An operating lease may be suitable if you plan to regularly upgrade your equipment or don’t want the asset on your balance sheet.

Finance lease

A finance lease lets you use the equipment for most of its useful life through fixed instalments. Like an operating lease, you don’t own the equipment – you’ll need to return it at the end of the lease or buy it with a final ‘balloon’ payment. Monthly repayments are fixed and are tax-deductible as a business expense.

A Finance Lease may be suitable if you want predictable monthly costs without having to buy the equipment outright.

Other specialist asset finance products

Vehicle finance

Spread the cost of a single company car or an entire fleet of vans to upgrade your vehicles while preserving your cash flow.

Explore vehicle finance

Machinery finance

Secure vital machinery by leasing (lower upfront costs) or financing (own it at the end) without tying up your capital.

Explore machinery finance

Aaron MoOng Ong Buns

With the help of Tide and their team of business finance experts, I was able to navigate the complexities of business finance, and secure the necessary funds to grow my business.

Looking to fund other business projects?

There are other ways to finance business assets and free up cash flow, other than equipment finance. Explore the following options to find out more.

Invoice finance

Unlock cash from unpaid invoices, improving immediate cash flow.

 Explore invoice finance

Business credit cards

Manage cash flow, earn rewards and build your business credit score.

Explore credit cards

Revolving credit facilities (RCF)

Draw, repay and re-draw capital repeatedly over the agreed term.

Explore RCF

Revenue-based financing

Your payments adjust to your revenue, increasing when sales are good and decreasing when business is slower.

Explore revenue finance

How to track your business credit score

Are you wanting to improve your business credit score?

Credit Score Insights is a simple and affordable way to help you understand, track and take action to help you boost your business credit score.

 Learn more

Learn more about financing your business

Explore more funding guides
Explore more funding guides

Equipment finance FAQs

Yes, if you’re looking for equipment finance for a small business, there’s no minimum size requirement. But it may be harder if you’re a new business, as lenders typically want to see at least 6-12 months of trading history and a year’s worth of bank statements to prove you can afford the repayments.

You can often get approved for equipment finance within 48 hours, depending on the lender and type of finance. Funds are usually provided within 7 days.

You can typically borrow between £1,000 and £1 million, depending on the equipment's value, your credit history, and lender terms.

The cost of equipment finance depends on the lender, the type of asset you’re financing, and your business credit history. But it’s typically cheaper than merchant cash advances, revenue-based financing and revolving credit facilities. It’s best to compare a wide range of lenders to find a suitable and competitive deal.

An equipment finance application could affect your credit score if the lender uses a hard credit check. You can protect your credit score by applying with Tide, which uses a soft credit check.

Yes, you could. Specialist lenders typically consider applications based on your business’ existing assets and trading history rather than your credit score.

Equipment finance is typically repaid in fixed, monthly instalments that include interest, over a period of 1-5 years.

We understand businesses, it's all we do

We understand businesses, it's all we do

Tide is built by business owners for business owners. That’s why we’re trusted by over 1.5 million sole traders, freelancers, and limited companies worldwide.

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