Business loans and asset finance
Compare Business Loans
& Asset Finance
from 130+ Lenders
What we do
Compare Advantage is a free comparison service for business finance. Tell us once what you need, and our partner, FCA-authorised broker Halo Corporate Finance, checks your enquiry against the 130+ lenders on its panel and comes back with the options that fit. You choose whether to apply.
- 130+ lenders on our partner’s panel, from banks to specialists
- Cashflow loans and asset finance from one enquiry
- Free to enquire, with no obligation to apply
Prefer to talk? Call 0330 057 7175
- 130+ lendersOn our partner’s panel
- £5k to £1mLoans and asset finance
- One enquiryInstead of one per lender
- FCA-authorised partnerHalo Corporate Finance
- Free to enquireNo obligation to apply
Compare before you apply
One enquiry, 130+ lenders
Business lenders do not all want the same customers. A high street bank, a challenger bank, an unsecured specialist and an asset finance house will look at the same business and reach different answers on how much, how long and at what cost. Applying to them one at a time is slow and can leave a trail of searches on your credit file. One enquiry through us is checked against the whole panel at once, so you only apply where there is a real fit. If you already know what you need, go straight to asset finance, small business loans, unsecured loans, VAT and tax bill loans, invoice finance, quick loans, new business loans, franchise finance or commercial mortgages and bridging.
- 1
Tell us once
Two minutes on the form: how much, what it is for and a few details about the business.
- 2
The panel is checked
Halo Corporate Finance matches your enquiry against the 130+ lenders on its panel.
- 3
You choose
Halo talks you through the options that fit. You decide whether to apply. There is no obligation.
What to compare
- The total amount you repay, not just the monthly payment. A longer term lowers the payment and usually raises the total.
- Every fee, including arrangement fees, broker fees, and any charge for paying the loan off early.
- What the lender asks for in return, such as a personal guarantee from the directors, a charge over property, or a debenture over the company’s assets.
- How quickly the money arrives, which matters if you are paying a supplier, a tax bill or a deposit on a fixed date.
- How repayments are taken, fixed monthly, weekly, or as a share of card takings, and whether that suits how money comes into the business.
Two ways to fund a business
Cash when you need cash. Asset finance when you need the kit.
Most business finance falls into one of two groups. Knowing which one you need is the quickest way to the right lender.
Cashflow finance: keep the business moving
Money for wages, stock, a tax bill, a refit or the next contract. Most businesses that run short of cash are not in trouble. They are growing, or waiting to be paid. The right product depends on how your money comes in.
Unsecured business loans →
A lump sum repaid over a fixed term, without putting a specific asset up as security. Directors are usually asked for a personal guarantee.
Small business loans →
Term loans sized for SMEs, sole traders and partnerships, including government-backed loans through the Growth Guarantee Scheme.
VAT and tax bill loans →
Short-term loans that pay a VAT, corporation tax or self assessment bill in full and spread the cost over a few months.
Revolving credit facilities
An agreed limit you draw on and repay as cash comes and goes, paying interest only on what you use.
Revenue-based finance
Repayments rise and fall with your takings, which suits businesses whose income is seasonal or comes in through card sales.
Secured loans
Larger amounts or longer terms, secured on property or other business assets, often at a lower cost than unsecured borrowing.
Asset finance: get the kit, keep the cash
Spread the cost of vans and lorries, plant and machinery, equipment and farm machinery over its working life, new or used, from a dealer or a private sale. Because the asset backs the agreement, it is often easier to arrange than an unsecured loan of the same size.
Hire purchase
Pay a deposit and fixed monthly instalments, and own the asset once the last payment is made.
Finance lease
Use the asset for an agreed term for lower monthly payments. The finance company owns it throughout.
Operating lease and contract hire
Rent the asset for part of its working life and hand it back, common for vans, cars and technology.
Asset refinance
Release cash tied up in vehicles or machinery you already own, then repay it monthly.
Match the finance to the need
Which type of business finance fits?
A simple rule: match the length of the finance to the length of the need. Short-term needs suit short-term money; long-lived assets suit longer agreements.
| What you need it for | Finance that usually fits | Typical length |
|---|---|---|
| Paying a VAT or tax bill on time | VAT or tax loan, or HMRC Time to Pay | 3 to 12 months |
| A gap while customers pay their invoices | Revolving credit or invoice finance | Ongoing |
| Stock for a busy season | Short-term loan or revenue-based finance | 3 to 18 months |
| A van, machine or piece of equipment | Hire purchase or a lease | Matched to the asset’s working life |
| Hiring, a fit-out or a new site | Term loan, secured or unsecured | 1 to 5 years or more |
| Buying premises | Commercial mortgage | Often 10 years or more |
Typical lengths are a guide only. Every lender sets its own terms.
How lenders decide
What lenders look at before they say yes
Every lender weighs these differently, which is exactly why the same business can be turned down by one and approved by another. Challenger and specialist banks now provide around 60% of gross lending to smaller businesses, so the high street is far from the only option.
How long you have been trading
Many lenders want to see at least a year of trading and some ask for two. A few specialist lenders work with newer businesses, usually for smaller amounts.
Turnover and profit
Filed accounts, management accounts and recent bank statements show whether the business can afford the repayments alongside everything else it pays.
The business credit file
Lenders check how the company has paid suppliers and past lenders, and look for County Court Judgments. Directors’ personal credit is often checked too.
Existing borrowing
Loans, leases, overdrafts and any HMRC payment plan already in place all count against what the business can take on.
Security and guarantees
Whether there is an asset, property or a personal guarantee behind the loan changes how much a lender will offer and on what terms.
Sector and purpose
Some lenders specialise in particular trades or uses, such as plant, hospitality or tax bills. Matching the request to their appetite is most of the job.
Why compare
One enquiry here, or one application per lender
The quickest way to the right lender is to know who is likely to say yes before you apply.
| Compare | Compare Advantage | Your bank | One online lender |
|---|---|---|---|
| Lenders checked | 130+ on our partner’s panel | 1 | 1 |
| Cashflow loans and asset finance | Both, from one enquiry | Some products | Usually one |
| Help with the paperwork | A named broker at Halo | Varies | Online only |
| If one lender declines | Others on the panel can still be considered | Start again elsewhere | Start again elsewhere |
| Cost to enquire | Free | Free | Free |
Costs
What business finance really costs
The headline rate is only part of the price. Two offers with the same rate can cost quite different amounts once fees and the structure of the repayments are added in.
Most lending to limited companies is not regulated by the Financial Conduct Authority, so offers are not always shown as an APR. Ask every lender for the total amount repayable on the same amount and term. That one number makes offers comparable.
Some unsecured lenders quote a factor rate instead of interest, for example 1.2, which means you repay £1.20 for every £1 borrowed whatever the term. A factor rate over a short term can be far more expensive than it looks.
Ask every lender for these
- The interest rate, and whether it is fixed or variable
- The total amount repayable over the full term
- Arrangement, broker and documentation fees
- Any charge for repaying early or settling the agreement
- What security or personal guarantee is required
- What happens if a payment is missed
Before you apply
Five mistakes that cost businesses money
- 1
Applying to lender after lender
Each full application can leave a hard search on your credit file. Several in a short space of time can make the next lender more cautious.
- 2
Comparing monthly payments only
A low monthly figure over a long term can cost far more in total. Compare the total repayable and every fee on the same amount and term.
- 3
Leaving it until the deadline
Finance for a tax bill or a contract start date takes time to arrange. Starting a few weeks early widens the choice of lenders.
- 4
Signing a guarantee without reading it
A personal guarantee can make a director liable for the business debt. Read what it covers, whether it is capped, and take advice if you are unsure.
- 5
Using short-term money for long-term needs
Funding a van or machine with a short loan squeezes cashflow. Asset finance spreads the cost over the asset’s working life.
Be ready
What to have to hand
You do not need any of this to send an enquiry. Having it ready when Halo calls means lenders can give a firm answer sooner.
- Your company name, or your trading name and address if you are a sole trader or partnership
- The last 3 to 6 months of business bank statements
- Your most recent filed accounts, or self assessment returns for sole traders
- Up-to-date management accounts if your last accounts are more than a few months old
- For asset finance, the supplier’s quote or invoice with the make, model, age and price
- For a tax bill loan, the amount and the HMRC deadline
Who it’s for
Finance for businesses that are busy, not in trouble
Limited companies, LLPs, partnerships and sole traders across the UK, from a single café to a contractor running a fleet of plant.
Cafés, restaurants and retail
Stock, refits, a quiet season or a VAT quarter. Revenue-based finance suits businesses that take most payments by card.
Construction and civils
Plant and machinery on hire purchase, plus working capital to bridge the gap between valuations and payment.
Is Compare Advantage a lender?
No. Compare Advantage is a comparison and introduction service. We are an Introducer Appointed Representative of Halo Corporate Finance Ltd, an FCA-authorised credit broker. Halo checks your enquiry against the lenders on its panel. We do not lend money or give financial advice.
How many lenders do you compare?
Your enquiry is checked against the 130+ lenders on the panel of our partner, Halo Corporate Finance. They range from high street and challenger banks to specialist asset finance, unsecured and revenue-based lenders. It is not every lender in the market.
How much can my business borrow?
Enquiries through us start at around £5,000 and go up to £1 million and beyond for asset finance and secured lending. What a lender will offer depends on your turnover, profit, time trading, credit history, existing borrowing and any security.
Will enquiring affect my credit score?
Sending an enquiry does not by itself put a search on your credit file. If you decide to apply, the lender will run its own checks, which may include a hard search on the business and its directors. Halo will tell you before an application is made.
What is the difference between a business loan and asset finance?
A business loan gives you cash to use for almost any business purpose. Asset finance pays for a specific vehicle, machine or piece of equipment, and the asset itself usually acts as security, which can make it easier to arrange.
Can a new business get finance?
Some lenders on the panel consider businesses that have traded for less than a year, usually for smaller amounts and often with a personal guarantee. Asset finance can be easier for newer businesses because the asset secures the agreement.
Can sole traders and partnerships apply?
Yes. Sole traders and small partnerships can apply as well as limited companies. Some borrowing by sole traders and small partnerships is regulated under the Consumer Credit Act, and Halo handles those enquiries directly.
Do I need to give a personal guarantee?
Often, for unsecured business loans to limited companies. A personal guarantee means a director agrees to repay the debt if the company cannot. Asset finance and secured loans may need one too. Always check what a guarantee covers before you sign.
Can I get finance with bad credit?
Sometimes. Some specialist lenders look past an older County Court Judgment or a missed payment if the business is trading well now. Expect smaller amounts or higher costs, and be honest about your history in the enquiry.
How quickly can the money arrive?
It depends on the product and how quickly you can supply documents. Some unsecured and revenue-based lenders can decide within days. Larger, secured or asset-backed deals usually take longer because of valuations and paperwork.
Is it free to use Compare Advantage?
Yes, it is free to enquire and there is no obligation to apply. If you take out finance, the lender may pay commission to Halo, and Halo may pay us a fee for the introduction.
What happens after I send an enquiry?
Halo Corporate Finance contacts you to understand the business and what you need, checks the panel, and explains the options that fit. You decide whether to apply. Nothing is arranged without your agreement.
Sources
- FCA register: Halo Corporate Finance Ltd (FRN 726655)
- British Business Bank: Small Business Finance Markets 2026
- GOV.UK: If you cannot pay your tax bill on time
- legislation.gov.uk: Consumer Credit Act exemptions for business lending (art. 60C)
Written by the Compare Advantage team, Chorley. Facts checked against the sources above on 4 November 2026. This page is general information, not financial advice.
Compare Advantage Ltd (FRN 1028452, company no. 14289362) is an Introducer Appointed Representative of Halo Corporate Finance Ltd (FRN 726655). We introduce business finance enquiries to Halo. We are not a lender and do not give financial advice. If you take out finance, the lender may pay commission to Halo Corporate Finance, and Halo may pay us a fee for the introduction. Finance is subject to status and is available to UK businesses only.