Let your business benefit from equipment finance loans

Whether you’re looking to hire, lease purchase or buy outright, our solution can provide vital funds of up to £250k.

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equipment finance | unsecured loans

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Don’t waste time with unnecessary forms and meetings.

For any purpose

Flexible, controllable funding, tailored to your specific needs.

Maximise ROI

Competitive rates and charges, with no hidden costs.

Peace of mind

Your application is processed promptly, rigorously and securely.

What is equipment finance?

There’s plenty of choice when it comes to choosing how to finance new equipment, such as air conditioning, computers or a commercial kitchen. There are a wide variety of loans and leases available, including hire purchase, along with operating leases and finance leases.

Before committing to any form of equipment finance, it’s important to understand the key features of the financial arrangement you’re entering into. This includes who is responsible for the equipment’s maintenance, finance cancellation terms and potential penalty fees.

Equipment finance contracts, whether for lease or purchase, can be complex. In contrast, a business loan from Spotcap is straightforward. You could borrow up to £250k on a flexible basis that gives you more control over how you run your business.

What is equipment finance?

There’s plenty of choice when it comes to choosing how to finance new equipment, such as air conditioning, computers or a commercial kitchen. There are a wide variety of loans and leases available, including hire purchase, along with operating leases and finance leases.

Before committing to any form of equipment finance, it’s important to understand the key features of the financial arrangement you’re entering into. This includes who is responsible for the equipment’s maintenance, finance cancellation terms and potential penalty fees.

Equipment finance contracts, whether for lease or purchase, can be complex. In contrast, a business loan from Spotcap is straightforward. You could borrow up to £250k on a flexible basis that gives you more control over how you run your business.

Can a Spotcap unsecured loan be a substitute for equipment finance?

An equipment finance contract can commit you to borrowing more than you require, because financial circumstances change. A Spotcap loan is based on a credit line, giving you access to funds that you can draw down as your cash flow requires.

If you decide not to take anything from the line of credit we provide, there is nothing to pay. Our tariffs comprise an interest charge on the money you borrow and an arrangement fee. Unlike other financial commitments, you can choose to repay early with no penalty.

Equipment finance is often linked directly to the asset, as a form of security. All Spotcap loans are unsecured. This is possible because of our unique credit assessment algorithm and our expert team of underwriters. These allow us to analyse the financial condition of your business and offer you a loan.

How can a Spotcap loan meet your equipment finance needs?

Once your loan with us is approved, it’s up to you how you use it. It could be to:

  • Purchase a new piece of equipment

    Your business needs certain assets in order to keep producing products and serving customers. Whether it’s a new vehicle, new machine tool or new printing equipment, a loan can help you get it.

  • Fit out new premises

    Your loan from us can do more than just buy a piece of equipment. You can also use it to redecorate the interior, design the working space, buy in furniture and even to finance potted plants.

  • Enhance your business systems

    Equipment finance can be invested in a host of business systems, from sophisticated security networks to integrated finance and manufacturing software. A Spotcap loan can be used for any of these.

  • Hire your new staff

    Buying new equipment often means new people, as you open a new branch or want to make an existing facility more productive. Having finance in place can be very useful when additional costs come before the extra revenue and profit they will generate.

  • Protect your working capital

    While traditional equipment finance may pay for a new asset, it often won’t cover other costs around installation and implementation. Because a Spotcap loan is not tied to the asset, it’s your choice how you use it to ensure your working capital remains secure.

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Key facts - equipment finance business loans

Versatile finance for established and growing businesses in the UK

Loan amount

You could qualify for a business loan of between £10k and £250k.

Loan terms

The loan begins as a line of credit. Draw down what you require and then repay, typically over 7 to 15 months.

Criteria to qualify

Your business must have been operating for at least 24 months, be based in the UK with a UK business bank account, and have a turnover of at least £250k.

Interest rates

The rate we charge varies depending on market conditions and recent performance of your business. Use our business loan calculator to estimate the interest rate and monthly repayments.

Equipment finance loans repayment calculator

  • Amount
    £ 100,000
  • Time
    12 months

£9,168

Monthly Repayment

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For illustrative purposes only. The example shown above is based on 1.5% average monthly interest rate and 2.0% arrangement fee. The APR (annual percentage rate) is 24.2%, which includes both interest and fee. The total payable amount is . This amount consists of principle, interest and fee. 
We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Monthly Repayment

  • Amount
    £
  • Time
    12 months
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For illustrative purposes only. The example shown above is based on 1.5% average monthly interest rate and 2.0% arrangement fee. The APR (annual percentage rate) is 24.2%, which includes both interest and fee. The total payable amount is . This amount consists of principle, interest and fee. 
We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

How to apply for your equipment finance

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Sign up

Start the online process by giving us basic personal and business information.

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Complete the application

Our time saving approach is based on uploading bank statements and financial reports, with the option to link your accounting system.

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Get approval

Once approved, you will be given access to your business loan within one working day.

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