Excel-A-Rate review: asset finance for UK and Northern Ireland businesses

Excel-A-Rate Business Services is a long-established, independent asset finance company based in Greater Manchester, with a second base serving Northern Ireland and a particular depth of experience in agricultural funding. It is one of the lenders on our panel, and as an independent broker Smart Funding Solutions can compare what it offers with the wider asset finance market. You can read more on Excel-A-Rate Business Services's own website.

01About Excel-A-Rate Business Services

Excel-A-Rate says it was established in 1996 and describes itself as an independent asset finance company and brokerage serving corporate, professional and SME clients across the United Kingdom. It works with clients nationwide from Greater Manchester and runs a separate Northern Ireland operation, where its site highlights specialist knowledge of agriculture.

That dual identity matters. As well as its asset finance business, it offers a brokerage service for specialised or unusual assets, structuring deals with other funders where that suits the asset better. Its site says it considers all proposals on merit and works with new starts and established businesses alike.

02What Excel-A-Rate funds

The core of Excel-A-Rate's business is asset finance. Its site also lists several cash flow products.

Product	What it is for
Asset finance	Vehicles, tractors, plant, machinery, technology, medical equipment and fit-outs
Renewable energy finance	Wind turbines, biomass boilers and similar green assets
Business loans	Secured or unsecured borrowing for general business purposes
Short-term loans	VAT, corporation tax, rent and working capital
Debt funding	Cash flow support through factoring and invoice finance

Amounts and terms depend on the asset and the business, so ask for figures on your own case. Most asset deals are structured as hire purchase or leasing, where the asset itself supports the finance and you spread the cost over its working life.

03Who Excel-A-Rate suits (and who it may not)

Excel-A-Rate is most at home with smaller ticket asset deals. Good fits include:

• Farmers and agricultural contractors, especially in Northern Ireland, looking at farm machinery finance for tractors and implements
• Trades and service businesses buying vans, tools or plant
• Professional practices funding technology, fit-outs or medical equipment
• Businesses adding renewable kit such as biomass boilers
• Newer businesses, since the firm says it considers new starts on merit

As with most smaller ticket asset funders, whether the directors own a home can affect how much is available, so tenant directors buying more expensive kit may need to compare other funders.

It may not be the best route for very large fleet or plant deals, where a bigger asset finance house with a higher ceiling is likely to be more competitive, or for businesses whose main need is long-term property finance.

04What Excel-A-Rate looks at

Excel-A-Rate does not publish a document checklist. For asset finance of this size, lenders typically look at:

• A supplier quote or invoice for the asset, including whether it is new or used
• Business bank statements and, for established firms, recent accounts
• Director details, home ownership status and credit history
• The deposit available, if any, and any part exchange
• For start-ups, a short explanation of the business and how the asset will earn its keep

A director's personal guarantee is commonly requested at this end of the market. For agricultural deals, lenders often take account of seasonal income, so repayment profiles can sometimes be matched to harvest or milk cheque cycles.

05Pros and cons

Pros

• Long track record, trading since 1996
• Specialist agricultural experience, particularly in Northern Ireland
• Considers new starts as well as established businesses
• Can broker unusual assets to other funders when its own appetite does not fit
• Covers a wide spread of asset types, including green energy equipment

Cons

• Geared to smaller ticket deals, so larger purchases may need another lender
• Directors who do not own a home may find the amounts available more limited
• The public site gives little detail on criteria, so you need to ask questions up front

A director's personal guarantee is commonly requested at this end of the market.

06Applying through a broker vs going direct

You can contact Excel-A-Rate directly, and because it also acts as a broker for specialised assets, it may approach other funders for you. The difference with Smart Funding Solutions is breadth: we search the market across 300+ lenders, including mainstream banks, specialist asset finance houses and agricultural funders, so you can see Excel-A-Rate's terms alongside the rest.

We prepare your case once, approach suitable lenders and help you compare the total cost, the deposit and the balloon or final payment on each offer. Smart Funding Solutions is an independent broker and is not part of Excel-A-Rate Business Services. It is free to enquire; any broker fee is disclosed separately before you proceed. To see your options, use our instant quotes service.

07Alternatives to Excel-A-Rate Business Services

• Haydock Finance: a larger asset finance specialist with a strong focus on sectors such as agriculture, construction and transport, often a better fit for bigger tickets.
• Close Brothers: a major asset finance and refinance lender, worth comparing for established businesses funding significant fleets or machinery.
• Oxbury Bank: an agricultural specialist offering asset finance and loans, a natural comparison for farmers.

If you are funding solar, heat pumps or other low-carbon equipment, our guide to green business finance sets out the options in more detail.