1pm Finance for Small Compactor Purchases
1pm Finance (formerly Onepm Finance) is a specialist small-ticket lender operating through broker channels. Their proposition is built around two things: very small minimum finance amounts (from £1,000) and a willingness to consider credit profiles that mainstream lenders decline. For compactor finance, they are most relevant to:
- Sole traders needing to finance a plate compactor or small pedestrian roller (£1,000–£15,000)
- Small groundwork firms with CCJs or defaults seeking plant finance
- New start businesses (under 12 months) with limited trading history
- Contractors who have been declined by Aldermore, Novuna, or Close Brothers
The rate premium is the cost of accessing finance that would otherwise be unavailable. A sole trader paying 15% on a £5,000 plate compactor over 2 years pays roughly £750 more than they would at 7% - meaningful, but often the difference between winning or losing a groundworks contract that requires owned compaction equipment.
October 2026 Rate Indicatives
| Asset Type & Profile | Finance Type | Indicative Rate | Typical Term | Min Amount |
|---|---|---|---|---|
| Plate compactor - clean credit Ltd Co | Hire Purchase | 7% – 11% | 1–3 yrs | £1,000 |
| Plate compactor - sole trader, clean credit | Hire Purchase | 10% – 15% | 1–3 yrs | £1,000 |
| Plate compactor - adverse credit | Hire Purchase | 13% – 19% | 1–2 yrs | £1,000 |
| Pedestrian roller - Ltd Co | Hire Purchase | 7% – 12% | 2–3 yrs | £3,000 |
| Pedestrian roller - sole trader | Hire Purchase | 11% – 17% | 1–2 yrs | £3,000 |
| Small drum roller (used) | Hire Purchase | 9% – 16% | 2–3 yrs | £5,000 |
Rates are indicative as of October 2026. 1pm Finance rates are fixed at drawdown. Adverse credit applications assessed case by case.
Strengths & Limitations
Strengths
- £1,000 minimum - the lowest in the market
- Sole traders actively welcomed
- Adverse credit, CCJs, and defaults considered
- New start businesses (limited trading history) eligible
- Fast decisions for smaller applications
- Provides access where all other lenders decline
Limitations
- Rates significantly higher than mainstream - 7%–19%
- Maximum advance limits mean large compactors unsuitable
- Higher rates mean more total cost over term
- Not appropriate if you qualify for mainstream finance
- Shorter maximum terms (2–3 years) increase monthly payments