Turned down for asset finance? What the Stance Asset Finance launch means for SMEs

Stance Asset Finance, the asset finance brand of United Trust Bank, has opened to the whole UK broker market after a pilot, The Intermediary reported on 9 November 2026. It was set up for small businesses whose funding needs fall outside mainstream lending criteria. That matters to anyone who has asked the question behind this story. My bank or finance company turned down my asset finance, so is there anyone else who will fund the van, machine or equipment I need? Here is what Stance offers, why applications get declined and how to improve your chances next time. Smart Funding Solutions is a broker, not a lender. We compare whole of market options and arrange business finance from £10,000 to £20 million.

01What is Stance Asset Finance?

Stance is a separate brand from United Trust Bank. When the bank announced it in December 2025, it said Stance would sit alongside its core asset finance business, use the bank's operations and technology, and have its own sales and underwriting teams. It planned to open to proposals in February 2026, and after a pilot it has now opened to all brokers.

• Products. Hire purchase, leasing and refinancing.
• Assets. Vehicles, machinery, plant and equipment.
• Where. Businesses in England, Scotland and Wales.
• Who for. Viable SMEs whose needs fall outside mainstream credit criteria, priced on what it calls competitive tier three terms.
• How. Through brokers, with direct access to its underwriters.

Astrid Michael, sales and marketing director for asset finance at United Trust Bank, said "We're not trying to make every deal fit a box."

02Why do businesses get declined for asset finance?

Mainstream asset finance lenders score most applications against set criteria. Common reasons for a no include the following.

• Credit history. A CCJ, missed payments or a past default on the business or a director.
• Trading history. A new company, or a sole trader with only one year of accounts.
• Losses. A loss making year, even with a clear reason behind it.
• The asset. Older, used or specialist kit that the lender finds hard to value or resell.
• Existing borrowing. Several facilities already in place, which our guide to loan stacking explains.

Our guides to how lenders assess applications and what to do after a decline go into more detail.

03Who could a specialist asset finance lender help?

Specialist lenders look at the asset, the business and the story behind the numbers. Typical cases include these.

• A haulier with an old CCJ who needs another tractor unit. See haulage and HGV finance.
• A young contractor buying a digger or dumper. See plant and machinery finance.
• A manufacturer that made a loss last year and wants to release cash from machines it owns. See asset refinancing and sale and leaseback.
• A trader buying secondhand kit. See used equipment finance.
• A growing firm adding vans. See van finance and fleet finance.

Our guide to bad credit asset finance explains how these deals are usually structured.

Mainstream asset finance lenders score most applications against set criteria.

04Is asset finance still growing in 2026?

Yes. The Finance and Leasing Association reported that asset finance new business grew by 10% in August 2026 to £2,965 million, the seventh month of growth in a row. Plant and machinery finance rose 30% to £747 million and commercial vehicle finance rose 10% to £756 million. Our report on the FLA lending figures has the wider picture.

Strong demand does not mean every case finds a home. Michael said "brokers tell us that finding the right home for more challenging cases is becoming more difficult" and that "As lenders consolidate or change their appetites, brokers need more options, not fewer."

05Will a specialist lender cost more?

Usually, yes. A lender taking more risk charges more for it, so compare offers on the total you repay, any deposit, any balloon payment and the fees. The asset finance calculator shows what a monthly payment could look like. Rates generally have risen since the Bank of England raised Bank Rate to 4%.

Tax relief does not depend on which lender you use. The annual investment allowance is £1 million and covers most plant and machinery, though not business cars. Whether you or the lender claims depends on the type of agreement, as our guide to asset finance and capital allowances explains.

06Which type of asset finance fits my business?

• Hire purchase if you want to own the asset at the end.
• A finance lease or an operating lease if you would rather rent it, which our guide to finance lease vs operating lease compares.
• Refinancing if you already own the kit and need cash in the business.

Still unsure? Read hire purchase vs leasing or start at our asset finance hub.

07How can I improve my chances after a decline?

08What does it mean for your funding?

Another bank backed lender for harder cases means more choice for businesses that have been turned down elsewhere. It does not mean every deal will be approved, and the price will reflect the risk. A broker who knows which lenders want which cases can save you wasted applications. Fees depend on the lender.

Use Instant Quotes to see which lenders could fund your vehicle, machine or equipment in minutes, or talk to a broker about your case.