Cleaning equipment finance

Buying essential cleaning equipment can be expensive, particularly if you’re running a commercial or specialised cleaning business, where you’ll need to invest in larger equipment. It can also be especially hard when you’re just starting out and cash is in short supply.

So, you’ve carried out some market research, got the necessary qualifications and decided to set up a cleaning business. Your next steps are to decide on the type of cleaning business you want to run (domestic, commercial or specialised) and then think about the type of equipment you’ll need and how you’re going to acquire it. 

That’s why it can make sense to look into cleaning equipment finance. This blog explains how cleaning equipment finance works, the different options to explore and how to apply for it. 

What is cleaning equipment finance?

Cleaning equipment finance is a way of acquiring the cleaning equipment you need without having to pay for it upfront. Cleaning equipment finance can enable you to spread the cost of your purchases over a number of months, making it much more affordable. 

It can also mean you won’t be using up valuable cash reserves and frees up more cash to invest in other areas of your business. 

Who is cleaning equipment finance for?

Cleaning equipment finance could work for you if you are just starting your business and simply don’t have the funds to pay for new equipment. Acquiring the items you need through finance can enable you to get state-of-the-art new equipment now and make your repayments as you earn money back from it.

This option could also be a good choice if you’ve already established a cleaning business but you’re looking to expand or need to replace out-of-date equipment. Using finance can help you to generate more profit from the new equipment without using company cash.

Whether you’ll qualify for cleaning equipment finance might depend on your personal and business circumstances, as well as your credit rating and available finances. Make sure you check each lender’s terms and conditions carefully before you apply. 

What cleaning equipment can be financed?

You could use finance to help you buy a range of cleaning equipment, including:

  • Carpet cleaners
  • Vacuum cleaners
  • Steam cleaners
  • Fogging machines
  • Floor dryers
  • Floor polishers 
  • Pressure washers

Note that if you are a supplier or vendor looking to offer these products on finance, you can consider vendor finance as an option.

How to finance cleaning equipment

There are a few options to explore if you want to finance cleaning equipment, as we explain below:


One of the most common cleaning equipment finance options is leasing. This enables you to rent the equipment from a leasing firm over a period of around one to five years (depending on the provider). During that time, you make regular fixed payments which can make it easier to budget. 

You’ll be able to use the equipment as if it were your own during the lease term, and at the end of the lease period you can decide whether you want to extend the lease, return the equipment, or upgrade it to something more modern. There’s also usually the option to pay extra to buy it outright if you prefer to keep it. 

Leasing is also tax efficient as you can offset each payment as a taxable business expense. Speak to your accountant as they will be able to help you with this. 

To qualify for leasing, you will usually need to have been trading for at least two years and some providers might require you to have a good credit history. 

Hire purchase

Some providers might also offer hire purchase. This usually requires you to pay an initial deposit for the equipment and then the remaining cost is split into monthly instalments over a set term, and interest is added. At the end of the term, you will own the equipment outright – there are no options to return it or upgrade it. 

The equipment will usually be an asset on your balance sheet and any outstanding amount you owe will appear as a liability until you’ve repaid it. The company you hire the equipment from is usually responsible for its upkeep. 

Company finance

Some companies will also offer finance options that work in a similar way to a standard business loan. You effectively buy the equipment with a loan and then pay the amount owed in monthly instalments over a period of one to five years.  

Depending on the provider, you might be able to get an interest-free deal for a shorter period of time (typically up to 24 months), or you might have to pay interest on your monthly repayments. Once you’ve made your final repayment, the equipment is yours to keep.  

If you are looking into asset finance as an option, it’s important to check whether there’s a minimum purchase amount and whether you need to put down an initial deposit first. Also check if you’d incur an early repayment charge if you repaid the loan early.

When comparing your finance options and deciding which one works best for your cleaning business, there are a number of different factors you’ll need to consider. Leasing, for example, offers the most flexibility and could be the best choice if you’d like the option of being able to upgrade your equipment every few years. On the other hand, if you know you want to own the equipment outright at the end of the term, you might prefer hire purchase or look for a company that offers its own finance agreements. 

You will also need to compare interest rates, as well as consider whether you’ll be responsible for maintenance and insurance costs, or whether that will be the responsibility of the lender.

Get started with Swoop

If you’re not sure how to go about applying for cleaning equipment finance or which option is most suitable, the team at Swoop would be happy to help. We can talk you through the different options and help you find the ideal lender for your business. Get in touch today.


Written by

Rachel Wait

Rachel has been writing about finance and consumer affairs for over a decade, helping people to get to grips with their finances and cut through the jargon. She's written for a range of websites and national newspapers including MoneySuperMarket, Money to the Masses, Forbes UK, and Mail on Sunday. Rachel has covered almost every financial topic, from car insurance and credit cards, to business bank accounts and mortgages.

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