Invest in the assets you need for your business, without affecting your cash flow.
Our Asset Finance solutions are provided by Lloyds Bank.
Enquire about Asset Finance
How can Asset Finance help your business?
To keep your business running smoothly and growing in line with your plans, you may need to purchase new vehicles, equipment or machinery. Instead of paying the full amount up front when you by or replace items, asset finance allows you to spread the cost over time.
Monthly payments can make it easier to manage the cost of large purchases without tying up your cash. You can even use asset finance to release funds from recent as well as future purchases.
Asset finance is available to new and existing Bank of Scotland customers.
Does your business qualify?
- The asset must be for use in your business
- Your turnover must be more than £100,000 per annum
- You must have been trading for a minimum of 24 months
- Your business must be UK based.
Different types of Asset Finance available:
There are different ways to fund your asset depending on what type of asset it is, whether you’re buying new or used, and if you prefer to hire the asset or want to own it at the end of the agreement.
Business Hire Purchase
Our most popular asset finance option helps you spread the cost of buying assets.
- Option to own at end
- New or used
- Vehicles or equipment
- Fund up to 90% of price
- 12 to 60 months
An affordable way to hire equipment and vehicles without owning them.
- Extend or sell at end
- New or used
- Vehicles or equipment
- Fund up to 100% of price
- 12 to 60 months primary lease
Vehicle Contract Hire
A cost-effective way to lease brand new vehicles without owning them.
- Return vehicle at end
- New only
- Vehicles up to 3.5 tonnes
- No deposit
- 24 to 60 months
Use Sale & Hire Purchase Back to spread the cost of a recent purchase and help cash flow.
If you’ve bought equipment, technology or vehicles using cash or your overdraft in the last 6 months (if you live in England and Wales, or 3 months if you’re in Scotland), Sale & Hire Purchase Back could help you release funds back into your business.
You won’t need to pay a deposit and can choose to make repayments over 12 to 60 months. At the end of your agreed term, you’ll own the asset again.
Access discounted finance for green purposes with Bank of Scotland’s Clean Growth Financing Initiative (CGFI).
Funding can support small improvements in environmental impact, to large-scale renewable energy infrastructure, and covers vehicles, general building assets, manufacturing, agriculture, construction and industrial equipment.
The discount is available for 5 years on assets valued at over £25,000 and linked to our qualifying green purposes.
Manage risk and protect cash flow when buying asset from overseas.
Spread the cost of assets over an agreed term when buying assets of £100,000 or more from overseas. The funds are only released when your supplier meets their obligations to help protect your investment.
A flexible and cash-flow friendly way of financing Professional Indemnity Insurance premiums.
Designed for legal or accountancy practices, this type of asset finance allows you to pay for Professional Indemnity Insurance premium costs over a year, making renewals easier to manage. Funding starts from £25,000 to a maximum of £3 million.
Asset Finance facilities are provided by Lloyds Bank plc. Lloyds Bank plc, Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England & Wales no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278. The provision of credit or leasing services by Lloyds Bank is subject to you meeting their credit approval. Please ensure that you only apply for credit or leasing services that you can comfortably afford.
Lloyds UDT Leasing Limited, Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England & Wales no. 665240.Lloyds Bank Asset Finance, part of Lloyds Banking Group, is a member of the Finance & Leasing Association (FLA) and complies with the FLA Business Code of Practice. Lloyds Banking Group is a member of the Lending Standards Board (LSB) and complies with the LSB Standards of Lending Practice for Business Customers (Asset Finance). Further information is available from the FLA at www.fla.org.uk and from the LSB at www.lendingstandardsboard.org.uk.