Asset finance

Asset finance services

Funding business-critical assets

We’ve partnered with industry experts Propel to help your business get access to quick and cost-effective finance for vehicles, equipment and machinery. You could get a reduced fixed rate of 7.45% (subject to change1).

Why use asset finance?

Avoid large upfront investments 

Spread costs over time

Manage your working capital and cashflow more effectively 

Budget with confidence

What’s on offer?

Lending from £5,000 to £2,000,000

Up to 100% of the asset cost covered

Terms of 1 to 7 years, with the option to buy your asset at the end

What is asset finance?

Asset finance means you can get the latest vehicles, equipment and machinery for your business by hire-purchasing them.
You’ll also have the option to unlock the cash tied up in your existing assets, releasing more working capital and improving your cashflow.

Electric vehicles

Futureproof your fleet while controlling your cashflow.

Thinking of switching to electric vehicles? Discover EV asset finance offers from Propel2. [PDF, 3.7 MB]

Green assets

Electric vehicles aren’t the only step you can take towards a sustainable future.

Discover how asset finance from Propel [PDF, 8.8 MB] could help you fund environmentally-friendly purchases, including renewable energy sources, low-carbon machinery and more.

Eligible assets

What you could finance

You can also finance a wide range of other assets, including equipment, machinery, technology and vehicles.

  • Propel partnership

    See asset finance in action

    Barclays in partnership with Propel.

    Barclays in partnership with Propel.

    Barclays has partnered with Propel to give business customers access to asset finance for equipment and vehicles. Together, we help enable businesses to maximise their opportunities, driving business productivity and performance.

    Let's hear from some businesses that are putting asset finance to their advantage.

    They were very flexible in their approach. We were able to come up with a solution to enable the last bits of finance and for Llanishen and the project to go ahead.

    I needed finance in the form of asset refinancing, to complete the Management Buyout process. They knew the machinery that we use. They knew the service that we offer - and it ticked all the boxes.

    Our proposition is very much about delivering a fabulous personal service. We're small enough to care, we're big enough to have the expertise and the technology to be a leader in UK SME finance.

    Barclays in partnership with Propel.

    Contact us to finance your business critical assets. Subject to application, financial circumstances and borrowing history.

    Terms and conditions apply.

  • Customer success stories

    How Propel has helped businesses

    For over 20 years, Propel has helped more than 40,000 businesses access the finance they need to help boost their performance. In that time, it's grown to become one of the largest independent finance houses in the UK.

    £136,000 funding boost to invest in specialist equipment

    Propel helped Gritblasting UK invest in a new generator, mobile compressor, Mercedes Sprinter van and other specialist equipment to meet demand for growth.

    “Dealing with Propel to meet those needs has been a very straightforward, stress-free process. The outcome was exactly what we were looking for.”

    Kierien Barnes, Company Director

    £57,500 to help Tamar purchase two coaches for its growing fleet

    Propel has delivered asset finance facilities to help Tamar, accelerate its plans to build a strong presence in the private hire sector.

    “Propel really took on board what we were talking about and its finance has led to us gaining more long-distance work and a better image for the company as a result.”

    Tom Pearce, Director

    £25,500 of asset trade to buy much-needed new equipment

    Propel provided asset finance to Fentrade to help accelerate its growth plans, establishing the business as a new manufacturer in the windows sector.

    “The advice was always honest and practical, and really supported us through the decision-making process.”

    Chris Reeks, Managing Director

  • Eligibility


    You can apply for assets finance if you're

    Eligibility Criteria

    A limited company, public limited company, sole trader, partnership or limited liability partnership

    An eligible body, such as a registered charity, local authority body, club, association or society

    Based in the UK

  • Electric Vehicles

    Electric vehicles

    Make the transition to electric

    Explore the support available to help you business transition to electric vehicles (EVs)

    The upcoming phase out of petrol and diesel vehicles

    The UK government has said they will stop the sale of all new petrol and diesel cars and vans by 2030.

    Capital allowances

    Your business may be able to claim 100% of an electric vehicle’s purchase cost for EVs against that year’s pre-tax profits.

    You could pay no Vehicle Excise Duty with EVs

    Vehicle Excise Duty (commonly known as ‘road tax’) is currently set at £0 for all 100% EVs until at least 2025.

    Calculate potential charging costs for EVs

    Pod Point is a website that breaks down the potential charging costs between different electric vehicle models, charging points and electricity tariffs. It could help you learn more about how you might be able to save3.

Ready to apply?

We want to make sure you get the best borrowing solution for your needs.

Other borrowing solutions might be available that could be better suited to your circumstances. If you'd like to find out about possible alternatives, please call4 your Relationship Team or go to the homepage of your Barclays app5 and select ‘Direct call’ under the ‘Contact us’ section.

Apply in Online Banking

Log in to Online Banking to apply for asset finance.

Talk to Propel at a time that suits you

Request a call from Propel to get more information about asset finance and apply with them directly. You can choose time for your call that’s convenient for you.

You may also be interested in

Loans for large purchases or investments

Unsecured borrowing that helps businesses spread the cost of a purchase over a set period6

Borrow up to £100,000 online

Fixed or variable rates

Monthly repayments from one to five years online

Overdrafts for everyday cashflow

An arranged business overdraft lets you borrow cash if you’re facing a short-term cashflow issue7

Borrow up to £50,000 online

One monthly fee for the facility

Interest is charged daily on the amount borrowed

Mortgages for commercial properties

Whether you need to buy a new building or release equity from your existing one, a commercial mortgage could be the answer8.

Borrow from £25,001

Buy new premises or release equity in your current buildings

Fixed and variable deals from 1 to 25 years

All business borrowing

We can help you get off the ground or expand

Explore all our borrowing options 

Higher loan6 and overdraft7 amounts might be available if you call us9 on 0333 202 7431

Partner Catalogue

Find new partners to help your business with everything from payment services to pensions and funding for growth.

Other funding options

Compare our business borrowing with borrowing offered by other lenders10. You can find out more about the government’s Bank Referral Scheme [PDF, 1.4MB], including eligibility information.

Funding Options

Its award-winning technology searches the market to find the right funding for your business’ situation. It’s quick, easy to use, and their team’s on hand if you need help.

Alternative Business Funding

It offers a free and easy way to find different funding options, focusing on making things simple for business owners who don’t have much time on their hands.

Funding Xchange

It shows you competing offers from lenders, to make sure you see the best terms. You’ll see quotes from up to 45 lenders, in a simple format, so you can easily compare and choose the offer that’s best for your business.


It shows you the broad range of funding options that are available to businesses across the UK and Ireland. After assessing your needs, it matches you with the right solution from over 1000 providers.