Technology Finance

Technology finance allows your business to spread the cost of IT hardware, software and eligible project costs through fixed monthly payments, rather than paying the full amount upfront. It can help preserve cash flow while giving you access to the technology your business needs.

Technology finance can typically include laptops, desktops, servers, networking equipment, phone systems, cyber security solutions, audiovisual equipment and other business technology. Depending on the agreement, eligible implementation, installation, consultancy and training costs may also be included.

Technology finance helps businesses preserve working capital, spread costs over affordable monthly payments and invest in technology without a large upfront expense. Fixed payments also make budgeting easier, while many agreements allow future upgrades or additional equipment where required.

Technology finance is available to many UK businesses and organisations, including limited companies, LLPs and public sector organisations. Businesses with a shorter trading history may still be eligible, although additional information may be required as part of the application process.

The minimum value for a new finance agreement is typically £1,000 excluding VAT. Lower-value additions may be available for customers with an existing finance agreement, subject to lender approval.

Yes. Most technology finance agreements offer fixed monthly payments for the agreed term, making it easier to budget and forecast your technology costs.

Some finance agreements may include administration, documentation or end-of-term fees, depending on the lender and finance product selected. Any applicable charges will always be confirmed before you enter into an agreement.

Yes. Financed equipment will normally need to be covered by a suitable business insurance policy against risks such as theft, loss and accidental damage. In many cases, existing business insurance already provides the required cover.

Yes. If your technology requirements change, additional equipment can often be added under a new finance agreement. In some cases, this can be aligned with your existing agreement, subject to lender approval.

Yes. If you wish to settle your agreement before the end of the term, the lender can provide an early settlement figure. Any settlement amount will be calculated in accordance with the terms of your finance agreement.

Your options will depend on the type of agreement and lender. These may include returning the equipment, continuing the agreement, upgrading to new technology or purchasing the equipment where ownership is available. Your available options will be explained before the agreement ends.

Depending on the type of agreement and your business circumstances, lease payments may be treated as a business expense for tax purposes. As tax treatment varies, you should always seek advice from your accountant or tax adviser.

No. All finance is subject to status, credit assessment and lender approval. Approval will depend on factors such as your business, financial position and the finance provider’s lending criteria.