Manufacturing & Engineering Machinery Finance

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  • Manufacturing industry finance since 2007
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Spread the cost of new machinery and equipment

Manufacturing and Engineering Finance

With the UK Government making Full Capital Expensing a permanent tax benefit in the Chancellor’s Autumn 2023 statement. Manufacturing and Engineering businesses are now primed to take advantage of the significant tax benefits of buying new equipment. Enquire about spreading the cost of new machinery or vehicles and avoid large initial outlays with asset finance through Portman, whilst the tax benefits off-set the cost of finance.

James Selka, CEO of the Manufacturing Technologies Association (MTA) said recently: “In order to make step change improvements in productivity and therefore competitiveness, manufacturers need only three things: technologies, the skills to acquire and deploy those technologies, and the finance to make it happen.”

How does it work?

We make Manufacturing & Engineering Machinery Business Finance, Easy

We know that finance can sometimes be confusing and stressful, but what we do is simple.

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1. Get started in 1 minute.

Enquire without affecting your credit score.

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2. Understanding your business.

A dedicated account manager will discuss your needs and collect documentation.

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3. Our experts do the leg-work.

We find the right deals, complete applications on your behalf and get you a no obligation quote.

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4. Your no-fuss finance is funded.

If accepted, your assets will be bought and delivered or the finance released to your account.

Enquire today
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Manufacturing finance for your future

While numerous external forces have hit the sector, the Manufacturing Technologies Association (MTA) is confident in an economic recovery long term. Investment in new software, automation, machine tools, metrology and other transformative manufacturing technologies will return widespread benefits to productivity, efficiency and competitiveness. That said, it’s difficult to invest for rosier times in the future while today’s financial challenges restrain you. This is why we want to introduce you to manufacturing finance. At Portman, we can help you start preparing for the future right now with manufacturing finance and business loans. Equipment funding, leasing and hire purchase deals are effective ways to acquire new plants, equipment and machinery with a choice of ownership options and payment structures.

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Invest in your staff and supply chain

The pressure on productivity is acute, as businesses try to avoid having margins squeezed to unsustainable levels with rising energy and materials prices hitting both manufacturing and distribution. Short or medium term cashflow loans will allow you to ride out a difficult period, but business loans can also be used to develop the right skills in your business. Your team is key to driving improvements in efficiency, business continuity and new ideas. Manufacturing business loans from Portman can also be used to support skills development in your existing workforce, or compete for the attention of industry talent.

Our team of experts is ready to help

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Make sure you’re part of the 4th Industrial Revolution

You’re already lagging behind if you’re still using paper-based or multiple standalone systems. You’re also holding yourself back from achieving your full potential. For SME manufacturers, the  ‘4th Industrial Revolution’ means creating their own ‘smart factory’ by integrating back office and shop floor systems with their business’s data. Integrated systems can improve and automate scheduling and key processes. Live data between the factory floor and central productivity systems keep track of progress. The good news is that such systems can be surprisingly affordable, particularly with the right engineering finance from Portman.

How we support Manufacturing & Engineering businesses

‘Make UK’ and PwC reported that 73% of manufacturers believed conditions in the sector would improve in 2022. Despite all of the challenges thrown at the sector in the last two or three years, that positivity stands as a testament to the resilience of UK manufacturers. When the industry does rebound, it will be those brave enough to invest now that will emerge fastest and strongest.

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Hire Purchase

Hire purchase usually involves paying the VAT and a deposit up-front. Fixed monthly repayments are then made, affected by whether you pay off the entire loan over the term or chose a final balloon payment. The final option to purchase is guaranteed for a nominal fee, transferring ownership of the asset to the customer.

Hire purchase is well-suited for situations where a company definitely wants to own the item at the end of the term, often where the asset has a significant usable lifespan, a high residual value and will not need to be upgraded.

Explore Hire Purchase
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Lease Finance

Equipment leasing allows a business to acquire hard or soft assets without the upfront costs associated with large purchases. A lender purchases the item, the business then leases it through fixed monthly payments over an agreed term.

Typically, asset finance is provided for high value ‘hard’ assets such as machinery, equipment, or vehicles, but Portman also arranges asset finance for ‘soft’ assets such as IT, fitness, catering, or vending equipment, as well as premises fit-outs, furniture or even air-conditioning.

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Business Loans

Business loans are a way of borrowing money, which is repaid in monthly instalments, including interest, over an agreed term. Business loans are a common way to help smooth out cashflow fluctuations and take opportunities where otherwise they could be missed due to a lack of working capital.

Business loans can be secured or unsecured. Portman typically provides unsecured loans which can be more flexible and do not require collateral but are likely to require a personal guarantee. Secured loans are tied to an asset which the lender can claim ownership of if repayments are not made, these may be used in equipment refinance deals.

Explore Business Loans
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Start Up Loans

New businesses often need an injection of finance to get them off the ground. Asset finance for new businesses allows you to focus on running your company and bringing in customers, confident that you have the equipment, vehicle or stock you need without the large initial outlay.

Using finance for your equipment means that you preserve the credit card or overdraft for contingency and operating expenses when the unexpected happens.

Explore Start Up Loans
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Equipment Refinance

If you recently bought a high-value item outright but would now prefer to have financed it, we can help with a sale-and-lease-back agreement. If the item is less than 3m old, give us a copy of the invoice and we will calculate the current value. After a few checks and acceptance of the term and monthly repayments, we can give you the cash equivalent of the invoice to put back into the business. You’ll then make fixed monthly payments including interest, whilst your asset earns you money.

If your business owns high value assets that are not currently on finance, subject to a valuation, it is also possible to use them as security for a loan, with lenders offering a cash loan up to a % of the asset’s value.

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Recovery Loans

Recovery Loans offer an excellent way of making sure your business gets back on its feet after the long-term effects of the pandemic and subsequent supply chain disruption. Businesses with turnovers up to £45m, including those who have previously benefited from the government’s CBILS, BBL or RLS, can apply.

Recovery Loans can be used for any legitimate business purpose or simply to provide cashflow. Rates are capped and the government continues to guarantee 70% of the outstanding balance, giving added security for lenders who are now able to consider finance for businesses who may have previously found it difficult to obtain.

Up to £2m can be borrowed on terms from 2 to 6 years. Your personal private residence cannot be taken as security.

Explore Recovery Loans

Successful Manufacturing businesses protect, invest and evolve.

Unlock your potential with Portman Finance Group.

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