Taxi Firm Business Loans

From a new vehicle to dispatch technology, fund your taxi firm with confidence. Explore business funding through Fundably. Eligibility criteria apply.

Typical Range

£5k – £150k

Average Loan

£25k

for taxi firm

Decision Speed

24–48 hrs

for unsecured loans

Eligibility requirements

Minimum 6 months trading history
Current private hire or hackney carriage licence, for both the operator and the vehicle
Registered UK business (sole trader, partnership, or limited company)
Personal guarantee typically required from the business owner

Loan types available

Asset Finance

Rate: 5.9% – 14.9% APR
Term: 1 – 6 years
Security: The asset being financed
Best for: Vehicles, including emissions-compliant models required in some city licensing zones

Unsecured Business Loan

Rate: 7.9% – 29.9% APR
Term: 1 – 5 years
Security: No security required
Best for: Private hire licensing costs, dispatch and booking app technology, or covering costs between vehicle changes

Secured Business Loan

Rate: 4.9% – 15.9% APR
Term: 1 – 15 years
Security: Commercial property or personal property
Best for: Larger firms buying an office or expanding a fleet across multiple vehicles

Representative example

Borrow £25,000 over 36 months at 9.9% APR (fixed). Monthly repayment: ~£806. Rates depend on your circumstances and the type of loan.

Common challenges

Local authority licensing conditions, including vehicle emissions and age requirements in some areas, determine which vehicles can be used to operate
Competition from app-based ride-hailing platforms has changed the competitive landscape for traditional taxi and private hire firms
Owner-driver income can vary with demand patterns, fuel costs, and local competition
Vehicle running costs, including fuel, maintenance and insurance, are a significant and ongoing share of operating costs

Bad credit?

Some specialist lenders consider taxi firm businesses with imperfect credit. You may need a personal guarantee or higher rate, but options may be available. Fundably may use a soft credit check for matching, which does not affect your credit score. A hard check may happen if you choose to proceed with a lender.

Frequently asked questions

Can I get finance for an emissions-compliant vehicle?

Yes, asset finance is the standard way to fund a taxi or private hire vehicle, including models that meet local emissions requirements where these apply in your licensing area. Because requirements vary by local authority, it is worth confirming the specific vehicle standards that apply to you before finalising a purchase, so the right vehicle is financed. Checking the specific requirements with your local licensing authority before you apply is a sensible first step.

Can an owner-driver get a loan, or only larger fleet operators?

Owner-drivers can apply for finance in their own right, and asset finance for a single vehicle is one of the most common forms of borrowing in this sector. Lenders will typically look at your licensing status, trading history and bank statements, similar to any other self-employed applicant, rather than requiring a larger fleet operation. Lendus can compare terms across lenders comfortable assessing sole-operator applications on this basis.

How has competition from ride-hailing apps affected finance for taxi firms?

Lenders assessing a taxi or private hire business will generally look at how you have adapted to a more competitive market, for example through your own booking app, partnership arrangements, or a loyal local client base, alongside your trading history. Competition from app-based platforms does not rule out finance but is a factor considered as part of the overall picture.

What can I use a loan for besides a vehicle?

Common uses include private hire licensing costs, dispatch and booking technology, and covering short-term cash flow while a vehicle is being replaced or repaired. These are typically funded with a smaller unsecured loan, since the amounts involved are usually lower than a vehicle purchase. Lendus can help you work out which type of finance best suits the scale of what you are planning.

Equipment finance for taxi firm businesses

Buying a specific machine or vehicle is usually cheaper than a general business loan, because the asset itself is the security. These are the items taxi firm businesses most often fund, with the price range we see quoted in the UK.

Equipment	Typical price range	Finance page
Taxi	£15k to £70k	Taxi finance
Minibus	£30k to £90k	Minibus finance
Ambulance	£55k to £95k	Ambulance finance
Box Van	£22k to £45k	Box Van finance
Cage Tipper	£58k to £115k	Cage Tipper finance
Car Transporter	£34k to £160k	Car Transporter finance
Coach	£60k to £320k	Coach finance
Commercial Vehicle	£15k to £150k	Commercial Vehicle finance
Concrete Mixer Truck	£85k to £125k	Concrete Mixer Truck finance
Curtainside Trailer	£18k to £35k	Curtainside Trailer finance
Curtainsider	£45k to £100k	Curtainsider finance
Dog Grooming Van	£20k to £70k	Dog Grooming Van finance

Browse all equipment finance pages

Guides and resources

How to Get a Business Loan Business Loan Eligibility Secured vs Unsecured Best Business Loans UK iwoca Review Funding Circle Review

Ready to find the best taxi firm loan?

Explore business funding options through Fundably.

Check Eligibility →

For UK limited companies with at least 3 months’ trading and monthly revenue.