Business loans for equipment

Can a loan be used to buy equipment in the UK?

Yes, the loan can be used to purchase equipment in the United Kingdom. Moreover, most banks have special loan programs for equipment (medical, restaurant, construction, etc.)

There are several ways to finance the purchase of equipment:

• Hire Purchase. The essence of this method is as follows - the company pays for the equipment in parts, but it can only take possession of it at the end of the term (that is, with full payment)
• Rent. The bottom line is that the company leases the equipment for a fixed period, but ownership remains with the lender. This is a good opportunity to use the equipment while paying for the rent
• Business equipment loan. This is an ordinary loan of money from a bank or financial company to purchase equipment with the obligation to return the funds within a certain period (credit term)

Thanks to the above-mentioned methods of financing, the company has the opportunity to obtain equipment for its activities.

Analysts of the Bankchart site have collected all offers for equipment financing, we recommend that you read the terms and conditions carefully, compare several programs, and only then submit an online application.

Business loan calculations for 3 years (example)

You can also see the similar FAQ at the link: 

• Does HSBC propose a loan holiday?
• Financial calculators from Bank of Ireland
• HSBC bounce back loan contact number
• How do I set up my HSBC credit card Direct Debit
• What financial services of Bank of Ireland can get a client in Post Office?

Details of companies offering the financial services:

Barclays Bank

Head office’s address: 1 Churchill Place, London E14 5HP

Contact center: 0800-400-100

Phone: +44 (034) 5734 53 45

Web-site: http://www.barclays.co.uk/

Swift code: BARCGB33

Reference number: 122702

Stock code: BARC

ABN: 01026167

BSB: BARC

Capify

Head office’s address: Station House, Stamford New Rd, Altrincham WA14 1EP

Contact center: 0800-151-0980

Phone: +44 800 151-0980

Web-site: https://www.capify.co.uk/

Funding Circle

Head office’s address: 68 King William Street, London, EC4N 7HR

Phone: +44 800-048-2467

Web-site: https://www.fundingcircle.com/uk/

iwoca

Head office’s address: 101 New Cavendish St, London

Contact center: 020 3778-0274

Phone: +44 20 3397-3375

Web-site: https://www.iwoca.co.uk/

Lloyds Bank

Head office’s address: 25 Gresham Street, London EC2V 7HN

Contact center: 0345-300-0000

Web-site: https://www.lloydsbank.com/

Swift code: LBGTGB22

Reference number: 119278

Stock code: LLOY

ABN: 00002065

BSB: LBGT

Metro Bank

Head office’s address: One Southampton Row, London, WC1B 5HA

Phone: +44 (034) 5080 85 00

Web-site: https://www.metrobankonline.co.uk/

Swift code: MYMBGB2L

Reference number: 488982

Stock code: MTRO

ABN: 06419578

BSB: MYMB

Nationwide Finance

Head office’s address: Nationwide Finance, 9 Osier Way, Olney Office Park, Olney, Buckinghamshire

Contact center: 01234 240-155

Web-site: https://www.nationwidefinance.co.uk/

Royal Bank of Scotland

Head office’s address: 36 St Andrew Square, Edinburgh, EH2 2YB

Contact center: 0345-600-2230

Phone: +44 (070) 3597-88-42

Web-site: https://www.rbs.co.uk/

Swift code: ROYCGB2LCLS

Stock code: NWG

ABN: BR000548

BSB: ROYC

Starling Bank

Head office’s address: 5th Floor, London Fruit And Wool Exchange, 1 Duval Square, London, E1 6PW.

Phone: +44 20 7930 4450

Web-site: https://www.starlingbank.com/

Swift code: SRLGGB3L

Reference number: 730166

Stock code: STERLNB

ABN: 09092149

BSB: SRLG

TSB

Head office’s address: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH

Phone: +44 (034) 5975 87 58

Web-site: http://www.tsb.co.uk

Swift code: TSBSGB2A

Reference number: 119278

Stock code: 94AQ

ABN: SC095237

BSB: TSBS

White Oak

Head office’s address: 58 Nicholas St, Chester CH1 2NP

Phone: +44 (0) 1244-527300

Web-site: https://whiteoakeurope.com/