Siemens Financial Services review: equipment and soft asset finance for UK businesses

Siemens Financial Services is the finance arm of the Siemens group. In the UK it is best known to smaller businesses for funding everyday equipment, such as office technology, IT, telecoms, security systems and medical kit, often arranged through brokers and suppliers. Smart Funding Solutions is an independent broker and is not part of Siemens. Siemens Financial Services is one of the lenders on our panel, so we can compare its terms with other equipment finance providers before you choose.

01About Siemens Financial Services

Siemens Financial Services combines Siemens' technical knowledge with financing across a wide range of sectors, and serves everyone from start ups and small firms to multinationals. Globally it also offers project finance, corporate lending and equity investment, but for an owner managed UK business the relevant part is asset finance.

In the UK, Siemens says it has provided finance through brokers for more than 25 years. It lists sectors including clean and renewable technology, construction, healthcare, manufacturing, professional services, the public sector, technology and transportation. You do not need to be buying Siemens equipment: its healthcare team, for example, says it funds medical equipment from all manufacturers.

02What Siemens Financial Services funds

For smaller businesses, Siemens focuses on what the industry calls soft assets: equipment that is essential to running the business but has a lower resale value than, say, a tractor or an excavator. Its UK broker finance page lists:

• Multifunctional devices, photocopiers, franking and postal systems
• IT hardware, applications and software
• Networking and telecommunications equipment
• CCTV and fire safety systems
• Office furniture and fittings
• Vending machines, industrial cleaning and laundry equipment, and industrial recycling equipment

It funds these through several structures:

Siemens says finance starts from around £1,000, which makes it one of the few lenders willing to look at small ticket deals. To understand how this type of funding differs from vehicle or plant finance, read our guide to soft asset finance.

Healthcare is a particular strength. Siemens lists GP practices, dental practices, private clinics, veterinary practices, private hospitals and laboratories among the customers it funds, covering imaging, diagnostic, laboratory and IT equipment. If you run a clinic, our medical equipment finance page explains the wider options.

03Who Siemens Financial Services suits (and who it may not)

• Good fit: established SMEs, which Siemens describes as trading for over three years, financing office, IT or security equipment.
• Good fit: professional and regulated businesses, such as practices and clinics, with a trading record of three years or more.
• Good fit: small ticket deals from about £1,000 where many lenders would not engage.
• Less likely to fit: start ups or businesses with under three years of trading, which Siemens' broker criteria do not mention.
• Less likely to fit: heavy plant, commercial vehicles or large property linked projects, where specialist hard asset lenders may be better placed.

04What Siemens Financial Services looks at

Siemens highlights fast credit decisions through its broker portal, and says some decisions come back within seconds for straightforward cases. Larger or more complex deals get more detailed underwriting. Typically a lender like Siemens will want:

• Business details, trading history and ownership.
• A supplier quote or invoice describing the equipment.
• Credit checks on the business and its directors.
• Filed accounts for larger amounts, and sometimes bank statements.
• Proof that the equipment is essential to how you earn revenue.

Because soft assets are hard to resell, lenders lean more on the strength of the business than on the asset. A clean trading record matters more here than with hard asset finance. If your business has some credit history issues, our guide to bad credit asset finance sets out what may still be possible.

05Pros and cons

Pros

• Backed by a large, long established global group.
• Will look at small deals from around £1,000.
• Broad range of soft assets, including software and furniture.
• Strong healthcare and professional services focus.
• Several structures, from hire purchase to sale and leaseback.

Cons

• Published broker criteria focus on businesses trading for three years or more.
• Soft asset finance usually needs a solid credit profile.
• Not the natural choice for heavy plant or vehicles.
• Personal guarantees may be requested for smaller limited companies, as with most soft asset lenders.

Siemens highlights fast credit decisions through its broker portal, and says some decisions come back within seconds for straightforward cases.

06Applying through a broker vs going direct

Much of Siemens' small business lending is arranged through brokers and equipment suppliers, so the question is often which intermediary to use. A supplier will usually offer one finance partner. A broker can compare Siemens with other equipment lenders, which matters because the right lender for a £3,000 phone system is often different from the right lender for a £60,000 dental chair.

We search the market, present your case clearly and keep the process to one application. It is free to enquire; any broker fee is disclosed separately before you proceed. Start with our Instant Quotes tool to compare lenders in minutes, or read more about IT equipment finance.

07Alternatives to Siemens Financial Services

• BPCE Equipment Solutions is another bank owned equipment lender worth comparing for office and technology deals.
• PEAC Solutions is an alternative for technology and soft asset finance arranged through brokers.
• Tower Leasing may suit smaller businesses that want a specialist leasing house for soft assets.

For Siemens' own information, see its UK broker finance page. You can check any finance firm on the FCA Register.