Forklift Financing

Jackie Escartin

I had the pleasure of working with David from Swoop, and I couldn’t be more grateful for the support he provided throughout my loan application process. From the very beginning, David went above and beyond to guide me through every step with clarity, patience, and professionalism. He made what could have been a stressful experience feel smooth and manageable. David truly understood my business needs and worked tirelessly to ensure I got the best possible outcome. His dedication, prompt communication, and honest advice made a huge difference. Thanks to his help, I was able to secure the funding I needed — and I felt fully supported the entire way. If you’re looking for someone who genuinely cares and knows how to get things done, I highly recommend working with David at Swoop!

Jun 30, 2025

Joseph

Really good experience from start to finish. Our needs were fairly specific with the requirements of a specific maximum APR with unsecured terms and Predrag put us in touch with the perfect lender for our needs. Would highly recommend using Swoop as they were able to find us lending options that we simply wouldn't have been able to find on our own.

Jun 26, 2025

Syma Aurangzeb

Excellent customer service with a personal touch. Made the whole process easy from start to finish. Highly professional and efficient 10/10

Jun 14, 2025

London Elite

Outstanding service start to finish

Jun 11, 2025

Niki Still

Predrag was very helpful and suppportive through this process. He kept things on point and helped me to get what I was after. Incredibly appreciative of all he did to get me to this point.

Jun 9, 2025

Alun

With Ann Marie Swift, I experienced probably the most succinct, clear and helpful financial advice phone call I have had in many years. She listened and explained clearly, making the process very simple. Highly recommended!

Jun 8, 2025

Healthcare Company

Shane from swoop was very professional and patient. The service was fast and efficient. Highly recommend swoop funding.

Jun 6, 2025

Barry Chapman

Really couldn't fault the service. Adrian was highly efficient, going above and beyond to make sure everything was done and all boxes were ticked in time for the process to continue to completion. Thank you.

Jun 5, 2025

Jonno Bennett

The process was fast and efficient. They did everything that they said that they would with minimal fuss. Very friendly staff kept us informed along the way and once the facility was established a follow up welcome phone call detailed the process for drawing down the funds. I couldn’t be happier

Jun 4, 2025

Tyler Panayi

I had Ikhar from the beginning and she has been absolutely amazing and got the deal over the line. She was on point and I can’t thank her and he company enough! Highly recommend this company and Ikhar!! Thank you so much!

May 30, 2025

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Page written by Chris Godfrey. Last reviewed on December 4, 2024. Next review due April 6, 2026.

Forklifts are essential business equipment for all types of organisation, but with sticker prices ranging from £15,000 to £50,000, they don’t come cheap. Paying this kind of cost using working capital is not only financially inefficient, it can also be prohibitive. However, there’s an answer to this problem: Forklift financing. Pay for the equipment as you use the equipment. Give your organisation the machinery it needs without hurting cash flow.

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What is forklift financing?

Forklift financing – also known as equipment financing – is a type of business loan used to support the purchase of new or used forklifts. This type of financing gives organisations an alternative way to pay for one or more forklifts without putting strain on working capital by buying machinery with cash.

What are the benefits of financing a forklift?

Financing your forklift purchase has many benefits:

Retain valuable working capital for use elsewhere in your business
Immediate equipment acquisition – may show as an asset on your balance sheet
Low or no down payment
Buy over time – pay for your forklift with affordable monthly payments
Preserve other credit lines

How does forklift financing work?

There are two types of forklift financing:

Finance (also known as a forklift loan)

Forklift finance is a straightforward business loan. You make a down payment on the forklift and then pay off the balance of the purchase price, plus interest, with regular payments over a fixed-term contract. The equipment acts as security for the loan. When the agreement comes to an end, the forklift is paid for and yours to keep.

Advantages of a forklift loan:

Own the forklift outright when the contract ends
Add the machinery as an asset to your balance sheet from date of purchase

Disadvantages of forklift loan:

Higher monthly payments because you are paying back the total forklift price

Lease

A forklift lease is really a long-term rental agreement. Because you are only financing some of the purchase price, leasing typically has lower monthly payments than a finance/loan. With a lease, you make a down payment and then pay a regular sum plus interest each month to use the forklift. At contract end you can either give the equipment back to the lender, renew the lease at a different cost per month, or buy the forklift for the fair market value – this is commonly known as a ‘balloon payment’.

Advantages of a forklift lease

Lower monthly payments
Option to buy the machinery or lease a newer forklift at contract end can give you better financial flexibility and/or a more modern machine

Disadvantages of a forklift lease:

Balloon payment could be more than the forklift is worth at contract end
Becomes a liability on your balance sheet

Get started with Swoop's business funding platform

Working with business finance experts can make all the difference when applying for forklift financing. Contact Swoop to discuss your borrowing needs, get help with your application and compare top-quality forklift financing from a choice of lenders. Give your business the equipment it needs without putting strain on cash flow. Register with Swoop today.

Written by

Chris Godfrey

Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.

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