At a glance: Close Brothers Asset Finance is a strong choice for wheel loader, compact loader, and backhoe loader finance. Their appetite covers JCB, Cat, and Volvo equipment, from compact models to full-sized quarrying loaders. Rates from 4.5%, minimum advance £10,000.
Close Brothers Wheel & Backhoe Loader Finance Rates - October 2026
Wheel loaders - from compact yard machines to large quarrying loaders - and backhoe loaders are a core asset class for Close Brothers. The lender understands residual values on JCB 3CX/4CX, Cat 428/938, and Volvo L60H/L90H equipment and is comfortable with both new and quality used machines.
| Loader Type | Finance Type | Rate | Min | Max | Term |
|---|---|---|---|---|---|
| Compact Wheel Loader (new) | HP | 5.0–8.0% | £10,000 | £250k | 24–48 months |
| Mid-range Wheel Loader (new) | HP | 4.5–7.5% | £10,000 | £1m | 36–60 months |
| Large Wheel Loader (new) | HP or Finance Lease | 4.5–7.0% | £50,000 | £5m+ | 36–60 months |
| Backhoe Loader - JCB 3CX/4CX | HP | 4.5–8.0% | £10,000 | £500k | 24–60 months |
| Cat 428 / Volvo BL71B | HP | 5.0–8.5% | £10,000 | £500k | 24–60 months |
| Used Loader (under 7 years) | HP | 5.5–10.0% | £10,000 | £500k | 24–48 months |
| Adverse Credit | HP | 9.0–12.0% | £10,000 | £200k | 24–48 months |
Close Brothers - Strengths and Limitations
Strengths
- Strong appetite for JCB 3CX and 4CX backhoe loaders
- Accepts Cat 428, Volvo L60H, and other major brands
- Fleet finance for plant hire companies
- Large loader deals up to £5m+ for quarrying / aggregates
- New and used loader finance
- Finance lease available for larger deals
Limitations
- £10,000 minimum - not for very low-value compact loaders
- Start-up businesses (under 12 months) limited appetite
- Sole traders with adverse credit better placed with Aldermore
- Full accounts required for advances above £100k