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Start-Up Asset Finance
New business? You can still finance the equipment you need to get moving
Limited trading history doesn't automatically rule a business out of asset finance. Specialist lenders on Sorbus's panel of 150+ look at the director's personal experience, the strength of the business plan, and the asset itself — not just company accounts that don't exist yet.
"No trading history = no finance" is one of the most common misconceptions we encounter. It's not true for every lender — and finding the right lender is exactly what Sorbus does.
What matters to specialist lenders
What lenders look at instead of trading history
When company accounts don't exist yet, specialist lenders shift their focus to factors that do exist.
Director's sector experience
A director who has spent 10 years working in logistics and is now setting up their own transport firm is a very different risk from someone entering a sector they've never worked in. Documented experience matters.
Personal credit history
In the absence of company credit history, the director's personal credit record becomes the primary signal. A clean personal file compensates significantly for a lack of business history.
Deposit size
A 20–30% deposit reduces the lender's exposure. For a start-up, this is often the single most effective lever — the larger the deposit, the more lenders will consider the case.
The asset's resale value
An asset with strong, predictable resale value (a commercial van, a standard excavator) is more attractive security than something niche or rapidly depreciating. The better the asset's security value, the more flexible lenders tend to be.
Common first assets
What start-ups typically finance first
The first financed asset is usually the one that makes the business viable — the van, the machine, or the equipment that enables the first contract.
A van or light commercial vehicle
The most common first asset for service businesses — plumbers, electricians, builders, delivery operators, and tradespeople of all kinds.
A single key machine
A CNC machine, welding equipment, catering equipment, or a piece of plant that makes the business capable of taking on its first customers.
Initial IT & equipment
Hardware, specialist technology, and telecoms that a new professional services or tech business needs to operate from day one.
Strengthening your application
How deposit and a personal guarantee help
A larger deposit is the most direct lever. Putting 20–30% down immediately reduces the lender's risk and the amount they need to recover in any worst-case scenario. For a new business without a trading record to point to, a deposit often makes the difference between a yes and a no.
A personal guarantee provides additional comfort. It means the director personally backs the finance if the business can't pay. This is standard for start-ups — not a sign of weakness, but an acknowledgement that the business hasn't yet built a standalone credit profile. We will always explain exactly what you're agreeing to before any guarantee is signed.
Neither replaces a good case. The lender still needs to be confident that the business model makes sense, the asset is appropriate, and the repayments are affordable. We help you put the strongest possible case together.
This page vs the Start Up Hub
This page is specifically about financing a physical asset — a van, machine, or piece of equipment that your new business needs to operate. It is not about raising general working capital or understanding the full range of start-up funding options.
For a broader view of start-up funding — including cashflow planning, loan affordability, and readiness assessments — visit the Sorbus Start Up Hub, which offers free tools and guides specifically designed for new business owners.
Checklist: before you enquire
Know what asset you need and have a rough cost estimate
Have your personal credit broadly in order
Have at least 10–20% available as a deposit
Be prepared to provide a personal guarantee
Have evidence of your sector experience (CV, references, previous employment)
Enquire about Start-Up Asset Finance
Get your personalised quote
Send us your details and one of our advisers will call you back, usually within one business day. No obligation, no credit check.
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01246 383500Free call. No obligation.
Unique to Sorbus Finance
Business Finance Health Check
Our free Finance Health Check assesses your business's readiness to access finance — including a Readiness to Lend score and gap analysis that's particularly useful for new businesses.
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Start-up asset finance — your questions answered
What new business owners most commonly ask about equipment finance.
Ready to find out if your new business qualifies?
Lewis or Arran will review your situation personally — no automated decline, no call centre.