Shawbrook Bank for Piling Rig Finance
Shawbrook Bank occupies a useful space in the piling rig finance market: they will consider used piling rigs, older specialist equipment, and smaller piling contractors where mainstream lenders like Lombard or Siemens Financial would decline. For a smaller foundation contractor or micro-piling specialist with a non-standard rig or a credit profile that doesn't meet the bar at Lombard, Shawbrook's relationship-led approach provides a genuine alternative.
Shawbrook's rates are higher than the tier-one lenders for the same credit profile, but their willingness to engage with non-standard cases adds real value to the market.
October 2026 Rate Indicatives
| Asset Type | Finance Type | Indicative Rate | Term | Min |
|---|---|---|---|---|
| Used piling rig (3–8 yrs, established contractor) | Hire Purchase | 6% – 11% | 3–5 yrs | £10,000 |
| Micro-piling rig (new or used) | Hire Purchase | 5.5% – 10% | 3–5 yrs | £20,000 |
| Smaller rotary rig (RTG, used) | Hire Purchase | 7% – 13% | 3–5 yrs | £50,000 |
| Driven pile rig (used, smaller) | Hire Purchase | 6.5% – 12% | 3–5 yrs | £30,000 |
| New piling rig (mid-value, <£500k) | Hire Purchase | 5% – 9% | 3–7 yrs | £50,000 |
Rates indicative as of October 2026. Shawbrook assesses used piling rigs case-by-case; condition reports and valuations may be required for older assets.
Strengths & Limitations
Strengths
- Appetite for used and non-standard piling rigs
- Smaller piling contractors considered
- Relationship-led underwriting - not purely algorithmic
- Broker-friendly with accessible credit team
- £10,000 minimum
Limitations
- Rates higher than Lombard/Siemens for strong credits
- Less appetite for very large (£1m+) piling rigs
- Older rigs may require valuation evidence
- Sole traders face additional scrutiny