New business? Explore a possible route carefully.
We arrange asset finance for startups and businesses trading under 2 years. Our specialist startup panel includes lenders who price on asset quality and director track-record rather than years of filed accounts.
Asset finance for new businesses.
Starting a business is expensive. Between equipment, vehicles, premises and stock, the upfront costs can be overwhelming. Asset finance lets you spread those costs over the useful life of the asset, preserving precious startup capital for the things that can't be financed — staff, stock, marketing.
As a startup, you won't have the 3+ years of filed accounts that make applications straightforward. But many lenders on our panel specialise in new businesses and take a different approach — they focus on the quality of the asset, your personal credit history, and the strength of your business case.
Around 60% of startup applications through our specialist panel are approved. The key factors are a reasonable deposit (typically 20–30%), clean personal credit, and a clear use for the asset.
What you'll typically need
- Typically 20–30% deposit (vs 0–10% for established businesses)
- Personal guarantee from at least one director
- Clear business plan or use-case for the asset
- 3 months of personal or business bank statements
- Clean personal credit preferred (but adverse considered)
Specialist routes
Lender appetite varies by business and asset
Fast review
Timing depends on the application and lender
£5k – £250k
Typical startup finance range
Credit searches
We explain the search type before proceeding
Startup finance, answered.
Can I get asset finance with no trading history?
A startup enquiry does not confirm that finance will be available. A provider may consider the asset, business information, director or owner information, deposit, proposed agreement and its current criteria. A broker can explain the information that may be needed before any application is considered.
What deposit will I need?
Typically 20–30% for a startup. The higher the deposit, the more comfortable lenders are and the better the rate. Some lenders go as low as 10% for strong personal credit.
Does my personal credit matter?
Yes, significantly for startups. Since there's limited company credit data, lenders rely more heavily on director personal credit scores. A clean personal file opens more doors.
What assets can startups finance?
Almost anything — vans, vehicles, plant, machinery, equipment, fit-outs. Vehicles and hard assets with strong residual values get the best rates.
Will I need a business plan?
Not a formal 40-page document. A clear explanation of what the asset will be used for and how it generates revenue is usually enough.
How long does it take?
Timing depends on the asset, documents, lender criteria and your circumstances. We will explain the expected next steps for your enquiry.
Finance information
Any available proposal should explain the payment obligations, deposit, fees, interest or rental element, any final payment, total payable, security and relevant consequences before you decide whether to proceed. AssetFi does not publish an unsupported rate or repayment example as a general indication of what a customer will receive.
AssetFi is a trading style of Vernova Finance Ltd, an independent asset finance broker and not a lender. Commission disclosure.