How quickly can an engineering business get finance?

An established UK engineering business can typically receive finance within 24 hours to 5 working days, depending on product type and ticket size. Asset finance against new machinery is the fastest specialist route at 3 to 7 working days from supplier proforma. Unsecured working capital from fintech lenders is the fastest cash route at 24 to 48 hours.

By product. iwoca and Capify regularly fund unsecured working capital to engineering firms within 24 to 48 hours for tickets up to £150,000. Funding Circle takes 1 to 3 days for established borrowers up to £500,000. For new CNC, machining centres or specialist plant, Time Finance, Aldermore and Ultimate Finance can complete asset finance in 5 to 7 days from receipt of the supplier proforma. Larger £250k+ packages from Allica Bank or Shawbrook take 7 to 14 days because the underwriting is committee-driven.

Engineering as a sector is generally well-treated by UK lenders. Hard assets (CNC, lathes, milling machines, presses, robotics, weld cells) have strong second-hand markets and lenders are comfortable taking them as primary security. The pattern that slows things down is order-book concentration risk: if a single client accounts for 40%+ of turnover, lenders will discount affordability or ask for additional comfort. The pattern that speeds things up is a clear use of funds tied to a specific contract or piece of work.

For larger acquisitions or expansion finance against engineering trading businesses, see Allica Bank review and Aldermore review. For working capital top-ups against trading flow, see iwoca review and Funding Circle review.