Are You Eligible for Asset Finance?
Find out if your business qualifies
Before applying for asset finance, it's important to understand whether your business meets the basic eligibility requirements.
Who Can Apply?
Most UK-based businesses can apply for asset finance, including limited companies, sole traders, and partnerships.
Lenders typically look for businesses that are established, financially stable, and seeking assets for genuine commercial use.
Key Eligibility Criteria
Business Use
The finance must be for equipment, vehicles, or machinery used in your operations, not personal items.
Trading History
Lenders usually want to see at least 6–12 months of trading and evidence of reliable cash flow to cover repayments.
Good Credit Record
A healthy business or personal credit history improves your chances of approval and better terms.
Asset Value
The item being financed should be something the lender can secure against (like a truck, trailer, or machine).
Basic Documents
Such as business accounts, bank statements, and proof of ID or address.
What If My Business Is New?
Even if your business is new or has limited credit history, MV Asset Finance works with a range of trusted lenders who can consider alternative solutions.
Options may include:
- •Larger deposits to reduce lender risk
- •Guarantor-backed agreements
- •Strong business plans demonstrating viability
- •Director or personal guarantees
If you're unsure whether you qualify, our team can help assess your eligibility and find the right funding option to suit your circumstances.
Documents You'll Need
To speed up your application, have these documents ready:
Business Accounts
Last 2-3 years of filed accounts
Bank Statements
Last 3-6 months of business bank statements
Proof of Identity
Director/owner ID (passport or driving license)
Proof of Address
Recent utility bill or bank statement
Asset Details
Quote or invoice for the equipment/vehicle
Business Plan (if applicable)
For new businesses or complex applications
Check Your Eligibility Today
Speak to MV Asset Finance today to check your eligibility and start your application with confidence.
Explore More Finance Options
Compare different types of asset finance to find the best fit for your business