Close Brothers Asset Finance Review 2026: Sector-Specialist Lending up to £10 Million

About Close Brothers Group plc

Close Brothers Asset Finance is part of Close Brothers Group plc (LSE: CBG), one of the UK's oldest and largest merchant banking groups with roots dating to 1878. The FCA-authorised entity (FRN 124750) operates as one of the most significant specialist asset finance lenders in the UK market by loan book size, with a portfolio spanning multiple industry sectors and asset classes.

The defining feature of Close Brothers Asset Finance is its sector-specialist divisional structure. Rather than operating as a generalist lender, the business organises its underwriting teams around specific sectors: agriculture, transport and haulage, print and packaging, manufacturing, construction and technology. Each division employs underwriters with direct sector knowledge, which means depreciation curves, residual values and loan-to-value ratios reflect genuine asset expertise rather than generic credit scoring models.

In agriculture, Close Brothers finances tractors, combine harvesters, sprayers, irrigation systems and farm buildings. In transport, the focus is HGVs, trailers, refrigerated vehicles and specialist haulage equipment. In print, the lender covers offset and digital presses, finishing equipment and bindery machinery. Each sector has its own underwriting team and asset specialists who understand the secondary market values that underpin lending decisions.

Minimum loan of £10,000 and maximum of £10,000,000 positions Close Brothers across the full SME and mid-market spectrum. The upper ceiling of £10,000,000 per transaction is significantly higher than most specialist lenders and means Close Brothers can finance large single assets such as combine harvesters, printing presses or construction cranes that exceed the capacity of smaller lenders.

Block discounting is an additional product not offered by most competitors. It allows finance brokers and dealers who have already arranged finance agreements with their customers to sell those agreement books to Close Brothers in bulk, receiving immediate cash in return. This is relevant to dealers and equipment vendors rather than end-user businesses.

Processing times of 24 to 72 hours reflect the more complex underwriting involved in sector-specialist decisions. Borrowers requiring same-day decisions should consider Portman or Time Finance for smaller facilities.

Eligibility criteria

• UK-registered business, minimum 2 years trading
• Minimum loan £10,000, maximum £10,000,000
• Sector coverage: agriculture, transport, print, manufacturing, construction, technology
• Asset must be for primary business use
• Director personal guarantee standard requirement
• Block discounting available to dealers and finance brokers

Who is Close Brothers Group plc best suited to?

Close Brothers is best suited to established UK businesses in agriculture, transport, print, manufacturing and construction that need financing for specialist or high-value assets where sector-specific underwriting adds value. It is particularly competitive for businesses financing assets above £250,000 where the lender's sector expertise and higher maximum loan ceiling are meaningful advantages.

Who should look elsewhere?

Close Brothers is not suited to businesses needing sub-£10,000 facilities, same-day decisions, or financing for assets outside its core sector coverage. The sector-specialist model also means borrowers in sectors not covered by a dedicated division may receive less competitive terms than from a generalist lender.

How Close Brothers Group plc compares to alternatives

Close Brothers has the highest maximum loan ceiling of any lender in this review at £10,000,000, and its sector-specialist model is unique among UK asset finance lenders. Versus Shawbrook, Close Brothers is slower but more specialised for agriculture and print. Against Aldermore, Close Brothers targets larger facilities and more complex assets. Portman and Time Finance are faster and more accessible for smaller tickets but cannot match Close Brothers on maximum exposure or sector depth.

Frequently asked questions

Is Close Brothers Asset Finance FCA authorised?

Yes. Close Brothers Ltd holds FCA authorisation under FRN 124750. Close Brothers Group plc is listed on the London Stock Exchange (LSE: CBG) and is regulated by both the FCA and the Prudential Regulation Authority as a UK bank. Asset finance permissions include hire purchase, finance lease, operating lease and consumer credit.

What sectors does Close Brothers Asset Finance cover?

Close Brothers Asset Finance operates dedicated sector divisions for agriculture, transport and haulage, print and packaging, manufacturing, construction and technology. Each division has specialist underwriters with direct knowledge of asset values, depreciation curves and secondary market conditions in their sector.

What is the maximum loan size for Close Brothers?

The maximum single-transaction facility at Close Brothers Asset Finance is £10,000,000. This is among the highest ceilings of any UK specialist asset finance lender and means Close Brothers can finance large individual assets such as combine harvesters, industrial presses or construction cranes that exceed the capacity of most competitors.

Does Close Brothers offer block discounting?

Yes. Close Brothers Asset Finance offers block discounting facilities to finance brokers, dealers and equipment vendors who have originated finance agreements with their own customers. Block discounting allows dealers to sell the receivables from those agreements to Close Brothers in exchange for immediate funding. This product is not available from most specialist lenders.

How long does a Close Brothers asset finance decision take?

Standard credit decisions at Close Brothers take 24 to 72 hours depending on complexity, loan size and sector. The sector-specialist underwriting model is more thorough than generic credit scoring and reflects the complexity of the assets being financed. Businesses that need same-day decisions should consider Portman Asset Finance or Time Finance for smaller facilities.