What is a commercial finance broker?

A commercial finance broker is a regulated intermediary that searches the lending market on behalf of a business to find the most suitable finance product — whether that is asset finance, a business loan, a commercial mortgage, or invoice finance. Unlike going directly to a bank, a broker compares deals across many lenders simultaneously. Sorbus Finance is an independent whole-of-market broker with access to 100+ UK lenders, and charges no upfront fees — the broker is paid by the lender only on completion.

What is asset finance and how does it work for UK businesses?

Asset finance allows UK businesses to acquire vehicles, machinery, manufacturing equipment, IT hardware, and other business assets without paying the full cost upfront. Instead of a large capital outlay, you make fixed monthly payments over an agreed term — typically 2 to 7 years. Common structures include hire purchase (you own the asset at the end), finance lease (lender owns it; you use it), and operating lease. A broker like Sorbus Finance compares rates across 100+ lenders to find the best deal for your circumstances.

What types of assets can I finance for my business?

Asset finance covers a wide range of business assets including commercial vehicles and vans, HGVs and fleet vehicles, agricultural machinery, construction plant and equipment, manufacturing machinery, catering equipment, medical and dental equipment, IT hardware and software, and renewable energy installations. Most tangible business assets with a useful life of 2 years or more can be financed.

What is the difference between hire purchase and finance lease?

With hire purchase (HP), you pay a series of monthly instalments and own the asset outright at the end of the agreement — it appears on your balance sheet from day one. With a finance lease, the lender retains legal ownership throughout the term; you use the asset and pay rentals, and at the end you can often extend the lease or sell the asset on the lender's behalf. Hire purchase suits businesses that want ownership; finance lease suits those that want to preserve capital and replace assets regularly.

How much can I borrow for a business loan in the UK?

UK business loans are typically available from £5,000 up to £5 million or more, depending on your business turnover, trading history, and creditworthiness. Unsecured business loans (no collateral required) are generally available up to £250,000–£500,000 for well-established businesses. Secured loans against property or assets allow higher borrowing. Sorbus Finance compares products across 100+ lenders to match your business with the right facility and terms.

Can I get asset finance or a business loan with bad credit?

Yes. While a strong credit profile opens the widest range of lenders and best rates, many specialist lenders in the UK consider businesses and directors with adverse credit history — including CCJs, previous defaults, or prior declines. The key factors are trading history, turnover, affordability, and asset quality. A broker can identify lenders most likely to approve your application before a formal search, protecting your credit score from unnecessary hard searches.

What is the difference between asset finance and a business loan?

A business loan provides a lump sum of cash that can be used for any purpose — working capital, stock, growth investment — and is repaid with interest over a set term. Asset finance is structured specifically around a particular asset (e.g. a van or piece of machinery), with the asset itself typically acting as security. Because the lender has a tangible asset to recover if payments are missed, asset finance usually offers lower interest rates than unsecured business loans.

What is invoice finance and how does it help cashflow?

Invoice finance lets a business release cash tied up in unpaid customer invoices — typically up to 90% of the invoice value within 24 hours — rather than waiting 30, 60, or 90 days for customers to pay. There are two main types: invoice factoring (the lender manages your sales ledger and collects payment) and invoice discounting (you retain control of collections). It is especially useful for businesses with seasonal cashflow, long payment terms, or rapid growth.

What documents do I need to apply for business finance?

Lenders typically require: 3–6 months of business bank statements, the last 1–2 years of filed accounts or management accounts, a completed application form with director details, proof of identity and address for all directors, and (for asset finance) a quote or invoice for the asset being purchased. For commercial mortgages, additional documentation such as property details, rental income schedules, and a business plan may be required. A broker guides you through exactly what each lender needs for your specific application.

How long does it take to arrange business finance?

Simple asset finance or small business loans can be approved and funded within 24–48 hours. More complex facilities — commercial mortgages, large structured loans, or cases with adverse credit — typically take 2–6 weeks. Using a broker speeds up the process because we know which lenders are actively lending, what their criteria are, and how to package your application to maximise approval chances and minimise delays.

How does a finance broker get paid?

Sorbus Finance is paid a commission by the lender on successful completion of a finance arrangement — not by the business owner. There are no upfront fees at any stage. This means you receive whole-of-market advice and lender comparison at no direct cost, and our interest is always aligned with finding you the right deal.

What is the Sorbus Finance Business Finance Health Check?

The Business Finance Health Check is a free, proprietary diagnostic tool developed by Sorbus Finance. It assesses your business across four areas: lending readiness, risk and resilience, exit strategy readiness, and financial controls. It takes under 5 minutes and produces an instant scored report — identifying gaps before you approach lenders, and giving you a prioritised action plan. It is completely free, confidential, and carries no obligation.

Do I need to have been trading for a certain length of time to get business finance?

Most mainstream lenders prefer at least 2 years of trading history, but specialist lenders will consider businesses from 6 months or even earlier for certain products — particularly asset finance, where the asset itself provides security. Start-up business loans are available for businesses under 12 months old, though terms may differ. A broker identifies which lenders are suitable for your trading age before any formal applications are made.

Ice Cream Van Finance: The Complete 2026 Guide for UK Operators

If you're researching ice cream van finance, you've probably already discovered that buying a professionally built van outright is out of reach for most independent traders and small catering businesses. Between the chassis, the specialist conversion, the soft-serve machine, and the branding, even a modest new vehicle can run to £60,000–£90,000, with bespoke Whitby Morrison-style builds pushing well beyond that. At Sorbus Finance, we arrange funding for sole traders, partnerships and limited companies across the UK, structuring deals that match the seasonal nature of the trade rather than forcing a one-size-fits-all repayment schedule onto your business.

This guide covers everything a prospective or existing operator needs to know before applying for finance in 2026 — from the products available, to typical costs, to the questions lenders will actually ask.

Why This Is a Specialist Lending Category

Ice cream vans aren't ordinary commercial vehicles. A finished van combines a base chassis (often a Citroën Relay, Peugeot Boxer, Ford Transit or similar), a specialist coachbuilt conversion, refrigeration and soft-serve equipment, gas or electric power systems, and external livery. Because the finished asset is so specialised, many mainstream vehicle lenders won't touch it, or they undervalue it — which is exactly why this exists as its own niche within asset finance. A broker who understands the resale market for these vehicles, the manufacturers (Whitby Morrison and Mustang chief among them), and the seasonal cash flow of mobile catering can secure far better terms than a generic loan application.

Finance Options for Ice Cream Vans in the UK

There isn't a single product covering every scenario — there are several structures, and the right one depends on your trading history, deposit, and whether you want to own the van outright at the end of the agreement.

Hire Purchase (HP)

Hire purchase is the most common route into funding an ice cream van for owner-operators. You pay a deposit (typically 10–20%), then fixed monthly instalments over 2–5 years, with ownership transferring to you once the final payment (plus a nominal option-to-purchase fee) is made. HP is popular here because the asset sits on your balance sheet from day one and you can claim capital allowances against it.

Finance Lease

With a finance lease, the lender retains legal ownership of the van, and you pay to use it over an agreed term. This structure can suit applicants who want to preserve cash flow and prefer the rental payments to be treated as a business expense, though you'll never legally own the vehicle unless a secondary rental period or sale arrangement is built in.

Lease Purchase

A hybrid of HP and leasing, lease purchase agreements are built around a fixed final "balloon" payment, which lowers the monthly instalments during the term. This is a popular choice for operators who expect a strong final season of trading or plan to refinance or part-exchange the van before the balloon falls due.

Asset Refinance

If you already own your van outright, asset refinance releases capital tied up in the vehicle — useful for funding a second van, a soft-serve machine upgrade, or working capital during the off-season. This route is one that existing operators often overlook.

What Does an Ice Cream Van Cost?

Costs vary enormously depending on whether you buy new, used, or convert your own chassis:

New, bespoke build (Whitby Morrison or similar): £65,000–£120,000+

Used, good condition (5–10 years old): £15,000–£40,000

Older/project vans: £5,000–£15,000

Soft-serve machine only (Carpigiani or similar), if fitting yourself: £8,000–£20,000

Because of this spread, applications for finance range from small hire purchase agreements under £10,000 right up to six-figure facilities for a brand-new, fully kitted-out vehicle.

What Lenders Look For Before Approving an Application

Lenders assess these applications differently to standard car finance because the trade is seasonal and the asset is specialist. Typical requirements include:

Trading history – Established operators with 12+ months of accounts get access to the widest lender panel and the sharpest rates. Start-ups can still secure funding, but usually with a larger deposit or a personal guarantee.

Deposit – Expect to put down 10–20% for new vans; used vans or weaker credit profiles may require more.

Street trading licence / itinerant trader status – Lenders like to see evidence you can legally trade, since it directly affects your ability to service the repayments.

Food business registration – Proof of registration with your local authority reassures lenders the business is operating compliantly.

Personal credit history – For sole traders and newer limited companies, the director's personal credit profile is usually assessed alongside the business.

Seasonality planning – A realistic cash flow forecast showing how you'll cover payments through the winter off-season strengthens any application.

Typical Rates and Terms

APRs on ice cream van finance in the UK commonly range from around 8% to 18%, depending on the age of the vehicle, deposit size, trading history and chosen lender. Terms usually run from 24 to 60 months. Newer vehicles, larger deposits, and established trading histories all push rates toward the lower end of that range. As a broker, Sorbus Finance compares multiple lenders on your behalf so you're not tied to the first quote you receive — a single application can be the difference between an 8% and an 18% APR on the same van.

New vs Used: Which Is Right for Your Application?

A new, manufacturer-built van from a specialist like Whitby Morrison comes with full warranty cover, the latest soft-serve technology (including electric ePower systems), and stronger resale value — all of which lenders view favourably when underwriting the deal. A used van lowers the upfront cost and the monthly instalment, but may carry higher maintenance risk and, in some cases, a shorter maximum term because lenders cap agreements against the vehicle's remaining useful life. We regularly arrange funding against both new and used vehicles, including part-exchange and conversion projects.

How to Apply with Sorbus Finance

Get in touch – Tell us the van you want to finance (new build, used purchase, or your own conversion) and your trading history.

We compare the market – As an independent broker, we run your application across our panel of asset finance lenders rather than a single bank.

Receive tailored quotes – We present you with HP, lease purchase or finance lease options, structured around your season, not a generic template.

Documentation and pay-out – Once you accept a quote, we handle the paperwork through to pay-out, so you can get on the road as quickly as possible.

Final Thoughts

Financing an ice cream van doesn't have to be complicated, but it does benefit from specialist knowledge — of the vehicles, the manufacturers, the seasonal trading pattern, and the lenders who actually understand the sector. Whether you're financing your first van or expanding a small fleet, Sorbus Finance can structure a deal around how your business actually earns money through the year.

Frequently Asked Questions

What is ice cream van finance? Ice cream van finance is a form of commercial asset finance used to purchase or lease an ice cream van, typically structured as hire purchase, finance lease, or lease purchase, and arranged either directly with a lender or through a broker like Sorbus Finance.

Can I get finance for an ice cream van as a new business or start-up? Yes. Start-ups can access funding, though lenders typically ask for a larger deposit, a personal guarantee, or supporting evidence such as a business plan and cash flow forecast, since there's no trading history to assess.

How much deposit do I need? Most lenders ask for a deposit of 10–20% of the van's value, though this can vary based on the age of the vehicle, your credit profile, and whether the van is new or used.

What credit score do I need for ice cream van finance? There's no single minimum score, as different lenders weigh factors differently. A stronger personal and business credit history typically unlocks lower APRs, but applicants with historic credit issues can still qualify through specialist lenders, usually with a higher deposit.

Can I finance a used or second-hand ice cream van? Yes, funding is available on used vans, though the maximum term may be shorter and rates slightly higher than on a new vehicle, reflecting the age and condition of the asset.

How long does a finance application for an ice cream van take? A straightforward application with an established trading history can be approved within 24–48 hours; start-up or more complex applications, such as bespoke builds, may take a little longer while documentation is reviewed.

Is VAT included in finance quotes? VAT treatment depends on the finance structure (hire purchase vs lease) and your business's VAT status, so it's worth confirming with your broker or accountant how VAT is applied and reclaimed on your specific agreement.

Do I need a street trading licence before applying? It isn't always a strict requirement to apply, but lenders view evidence that you can legally trade — such as itinerant trader status or a street trading licence — favourably, since it directly supports your ability to repay the finance.

Useful External Resources

Whitby Morrison – World's Leading Ice Cream Van Manufacturer

Ice Cream Alliance – UK Trade Body for Ice Cream Businesses

GOV.UK – Food Business Registration

Food Standards Agency – Guidance for Food Businesses

Ice Cream Van Finance: The Complete 2026 Guide for UK Operators

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