Simple application process
No penalties for early settlements.
Asset finance interest rates from 2.2%.
Finance repayment terms up to 7 years.
A business loan is a commercial loan where the funding is paid directly to you to use for any purpose. You can invest the loan into any area of your company; you can upgrade production lines, purchase new machine tools, or packing equipment, for example. Business loans enable you to invest in your company without making large upfront payments.
Asset finance can be used to purchase a wide range of engineering or manufacturing assets. Hire purchase agreements allow your company to purchase the asset once you’ve completed repayments. Hire purchase agreements to allow your company to purchase assets or equipment without having to use up valuable working capital. Utilising finance enables you to spread the cost of the purchase. At Millbrook, if you wish to purchase the asset you can for a fee that’s agreed at the beginning of your contract.
The first step is to use our eligibility checker and get in touch with our account manager so they can discover the best finance solution for you.
Check your eligibility for engineering or manufacturing finance and one of our experienced account managers will discuss your requirements and find the best finance option for your business.
Supply Millbrook with supporting information and our team will send an application to an underwriter for approval.
Once finance has been approved, the documents need to be signed. Upon receipt of signed documents, your account manager ensures the funds are released as soon as possible.
The finance agreement is activated and funding is released, enabling you to invest and grow your business.
Business loans and asset finance agreements for engineering and manufacturing companies are often cheaper and more flexible than bank loans or overdrafts. If you’re eligible for finance, Millbrook will secure the best agreement for your requirements. Once the funds have been released, you can invest in your company to upgrade your equipment and operations. Spreading the costs over fixed monthly payments includes interest, but saves on upfront costs.
Interest rates on unsecured business loans can be as low as 3.2%. Secured loans can include even lower interest rates because the lender has security in the form of an asset or property. We ensure your contract is honest and transparent to ensure you understand all lender fees before you enter an agreement.
There are no arrangement fees with asset finance. However, there may be an administration fee charged of around £150 + VAT. Asset finance for engineering and manufacturing equipment feature lower interest rates as the security of the asset encourages lenders to offer more competitive rates.
Before attempting to access funds, check your eligibility below and get in touch to discuss your requirements. Our team will help you discover a finance solution that matches your engineering or manufacturing company. At Millbrook Business Finance, we have an industry-leading approval rate for business loans and asset finance. We believe every business deserves the opportunity to invest in their company, regardless of their credit score.
Unmatched Interest Rates
We work alongside you to secure the best interest rates that ensure you take out cost-effective finance.
No Hidden Costs
Don’t be caught out by hidden costs, at Millbrook, we ensure you’re not charged for arrangement fees.
Experienced Account Manager
Running an engineering or manufacturing business takes up much of your time, making securing finance simple, by working with Millbrook.
Industry-Leading Approval Rates
Our high approval rate is industry-leading due to our experience and our access to over 80 UK partnered lenders.
Providing your customers with an attractive alternative to paying with cash is a great way to reveal the true sales potential of your business. By utilising Millbrook Partner Finance, you can offer finance as a payment method to your customers. Here are some key reasons as to why so many organisations utilise Millbrook Partner Finance