Finance for your business-critical assets
A quick and cost-effective way to finance a wide range of assets, including vehicles, equipment, machinery and technology.
We’ve partnered with Propel, a leading asset finance provider, to help you spread the cost of the assets your business relies on.
They’ve over 30 years of experience and have supported more than 70,000 UK businesses. They finance vehicles, machinery, technology, and other items.
Why use asset finance?
- Avoid large upfront costs.
- Spread the cost over time.
- Protect your working capital and cashflow.
- Free up cash by refinancing assets you already own.
What can you use asset finance for?
Propel supports most sectors and asset types (which can be new, used or refurbished). This includes:
- vehicles such as cars, vans, HGVs and forklifts;
- manufacturing equipment, including fabrication and CNC machinery; and
- IT, telecoms and office equipment.
At a glance
- Your payments are fixed for the term. They include the cost of the asset and interest.
- A one-off set up fee may apply.
- Fees may apply if you amend your agreement. For example, changing payment details or rescheduling payments.
- Additional fees and interest may apply if payments are missed or late.
- Borrowing starts at £5,000 for most organisations. But from £25,000 for sole traders, partnerships with 2 or 3 partners, or unincorporated associations.
- Choose from Hire Purchase or a Finance Lease.
- Hire Purchase: You own the asset once you’ve made all the payments and paid the ‘option to purchase fee’ at the end of the agreement.
- Finance Lease: You use the asset throughout the term of the lease. Propel owns the asset. At the end of the term, you return the asset to Propel, sell it to a third party or extend the agreement.
Who’s eligible?
UK businesses with a turnover of at least £250,000. This includes private and public limited companies, limited liability partnerships, partnerships, sole traders and registered charities.
How Propel helped one business
A chemical research company completed more than 10 deals with Propel over 5 years to fund over £1m worth of lab testing equipment. This helped them invest in advanced technology and support their growth.
Ready to talk about asset finance?
Speak to your Santander relationship contact to be referred to Propel. If you don't already bank with us, get in touch today.
Important information
Santander UK plc acts as an introducer to Propel. Propel is a separate legal entity to Santander UK Plc. If you ask us to introduce you to Propel, you agree that we can share your personal details, business information and asset needs with them. This allows Propel to get in touch with you about their asset finance services. We don’t provide advice as to whether Propel’s services are suitable to you. If you choose to take out a service with Propel, Santander UK plc will receive a payment from them. The product will be provided and administered by Propel and you’ll be asked to accept their terms and conditions. All applications are subject to Propel’s eligibility criteria and approval, and all lending decisions are made by Propel.
Propel Finance Group (‘Propel’) includes Propel Finance Plc and Propel Finance No.1 Limited. Propel Finance Plc is registered in Wales, Company no 04015132, FCA FRN no 689877, ICO no Z4905790. Propel Finance No. 1 Limited is registered in Wales, Company no 10003271, FCA FRN no 751977, ICO no ZA216560. Registered offices are at Unit 5, Langstone Business Village, Langstone Park, Newport, NP18 2LH.
Propel Finance Plc (Firm Reference No. 689877) and Propel Finance No. 1 Limited (Firm Reference No. 751977) are authorised and regulated by the Financial Conduct Authority.