Asset & Equipment Finance

New Start Finance

What is New Start Asset Finance?

New Start Asset Finance is designed for businesses in their first two years, providing access to vehicles, equipment, and machinery through structured monthly payments, without the need for a long trading history. The lender buys the asset, the business uses it straight away, and repayments are spread across an agreed term.

It solves one of the most common problems for new businesses: needing equipment to generate revenue, but not having the capital to buy it outright and not yet having the track record that most standard lenders look for.

Apply for Finance 0161 510 5600

Some of the assets we've funded

What types of assets can be financed?

New start finance covers most of the assets a new business is likely to need: commercial vehicles, vans, catering and hospitality equipment, IT hardware, construction tools, beauty and salon equipment, gym and fitness equipment, agricultural machinery, and office fit-out. If the asset has a clear value and is central to the business generating income, it’s worth exploring.

Both new and quality used assets can be considered, though lenders will assess condition carefully for used equipment. The asset itself provides security for the agreement, which is part of what makes new start finance accessible even without a trading history.

There are very few categories that are entirely off the table. The best way to establish what’s possible for a specific asset is to apply and let us match it to the right lender.

Apply in less than 5 minutes. Approved in less then an hour.

Apply for Finance

Who qualifies for New Start Asset Finance?

Businesses that have been trading for less than two years, or that haven’t yet started trading but have a concrete plan in place. Sole traders, partnerships, and limited companies can all apply.

Because trading history is limited, lenders place more weight on two other factors: the viability of the business plan, and the personal credit history of the business owner or director. A clean personal credit record doesn’t guarantee approval, but it significantly improves the chances. Lenders want to see that the person behind the business is financially responsible.

A personal guarantee is standard in most new start agreements. This means the business owner is personally backing the arrangement, a reflection of the lender’s risk position when there’s no trading history to assess. It’s worth understanding what that means before signing.

Do I need a trading history to be approved?

No, and that’s the point of the product. Most mainstream lenders require at least two years of accounts before considering a finance application. New start finance specifically caters to businesses that can’t meet that bar yet.

What lenders look for instead is a credible business plan with realistic financial projections, evidence of how the asset will generate income, and a personal credit history that demonstrates the owner’s track record with financial commitments. These replace trading accounts as the primary basis for the decision.

It’s honest to say that terms may be less favourable than those available to established businesses, rates may be higher and deposits more likely. But approval is genuinely achievable, and with 120+ lenders on the panel, we can find the right match across a wide range of circumstances.

Get in instant estimate of how much you could borrow

Apply For a Loan

What are the benefits of asset finance for startups?

The most important benefit is getting the equipment needed to operate from day one, without draining startup capital. For many new businesses, the choice is either spend the limited cash reserve on equipment or use it on everything else that a new business needs. Asset finance removes that dilemma.

Monthly payments are manageable and fixed, making cash flow planning straightforward. And because the finance is secured against the asset itself, the business isn’t taking on unsecured debt against its own balance sheet.

Depending on the agreement structure, the business may own the asset at the end of the term (hire purchase) or have the option to upgrade or return it (lease). This gives startups the flexibility to choose a structure that matches how they expect the business to evolve.

Will I need to provide a personal guarantee?

In most cases, yes. A personal guarantee is standard for new start finance because lenders have limited financial history to assess. By signing a personal guarantee, the business owner agrees to personally cover the outstanding balance if the business is unable to meet repayments.

It’s a serious commitment and shouldn’t be entered into lightly. Understanding the full terms, what triggers the guarantee, what the maximum liability is, and how it would be enforced, is essential before signing.

That said, personal guarantees are a normal part of new business finance, not a red flag. Most new business owners provide them routinely across various types of lending. What matters is being clear-eyed about the risk and confident that the repayments are manageable.

How quickly can I access the equipment?

Once an application is approved, which for new start finance can take between two and five working days, the asset can typically be delivered or collected promptly. The exact timeline depends on the supplier and the type of asset, but the finance itself doesn’t add significant delay once it’s in place.

Approval speed depends largely on how complete the application is. A solid business plan, personal bank statements, ID documents, and clear details of the asset being financed all help the process move quickly. Applications that come in with everything ready are processed significantly faster than those requiring follow-up.

For businesses under pressure to get operational, being prepared upfront is the single best thing you can do to speed up access to equipment.

New to business? Apply today, we work with lenders who specifically support new starts.

Apply for Finance

Our Asset & Equipment Finance Solutions

At Lendaline Business Finance, we pride ourselves on being a trusted partner for businesses seeking reliable and tailored financial solutions.

Asset Re-Finance

Finance Lease

Hire Purchase

New Start Finance

Operating Lease

Sale & Hire Purchase Back

Apply For Finance

Apply in less than 5 minutes, get funded in less than 24 hrs

Apply Online 0161 510 5600