Propel Finance Review

Item: Propel Finance Business Finance
Author: Lendus

Figures last checked 23 August 2026. Independent review by Lendus — we are an introducer, not a lender, and are not paid by Propel Finance.

What does Propel Finance offer UK businesses?

Propel Finance does not offer a direct lending product. Priced per deal. Figures checked 23 August 2026 and indicative only.

Propel Finance is a Newport, Wales-based asset finance provider, formerly known as Henry Howard Finance PLC until it rebranded in December 2019. Propel provides hire purchase, finance lease, vehicle finance and green (renewable energy) asset finance to UK SMEs, as well as an embedded point-of-sale finance product called PropelPay. The company states it has around 30 years of experience and has supported more than 50,000 UK business customers, and was recognised as the UK's fastest-growing asset finance lender in both 2022 and 2023.

Written by the Lendus editorial team. Last updated: April 2026.

Amount

£5k – £500k

Rates

N/A – N/A

Priced per deal; no public rate card

Speed

Not publicly stated; timescales are assessed per deal.

What is Propel Finance?

Propel Finance (Propel Finance Plc) is a UK-based business finance provider founded in 2000 and headquartered in Newport. Propel Finance is a Newport, Wales-based asset finance provider, formerly known as Henry Howard Finance PLC until it rebranded in December 2019. Propel provides hire purchase, finance lease, vehicle finance and green (renewable energy) asset finance to UK SMEs, as well as an embedded point-of-sale finance product called PropelPay. The company states it has around 30 years of experience and has supported more than 50,000 UK business customers, and was recognised as the UK's fastest-growing asset finance lender in both 2022 and 2023. .

Founded 2000 Newport Propel Finance Plc and Propel Finance No. 1 Limited are authorised and regulated by the Financial Conduct Authority. Propel Finance Plc FCA firm reference number 689877; Propel Finance No. 1 Limited FCA firm reference number 751977.

Where these details come from

Companies House number: find-and-update.company-information.service.gov.uk , checked 2026-08-23
Regulatory status: www.propelfinance.co.uk , checked 2026-08-23

Rates and costs

Rate range: N/A – N/A (Priced per deal; no public rate card)
Representative APR: Propel Finance does not publish a representative APR; asset finance is priced per deal.
Amount range: £5,000 – £500,000
Approval speed: Not publicly stated; timescales are assessed per deal.

Eligibility requirements

Minimum trading history: Not publicly stated; assessed as part of underwriting.
Minimum turnover: Not publicly stated; deals are assessed on a case-by-case basis.
Credit requirements: Propel does not publish standard credit criteria for asset finance. Facilities are secured against the financed asset, with underwriting based on the business's financials, the asset type, and deal structure.

How to apply

Check eligibility through Lendus, answer a few questions about your business and funding needs (2 minutes)

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Pros and cons

Pros

Around 30 years of trading history under its current and predecessor (Henry Howard Finance) name
Recognised as the UK's fastest-growing asset finance lender in 2022 and 2023
Broad product range including hire purchase, finance lease, vehicle finance and green asset finance
PropelPay embedded finance option for point-of-sale asset purchases

Cons

No public rate card; pricing is quoted per deal so it is hard to compare in advance
No published minimum turnover or trading history requirement, so eligibility can be unclear upfront
Two FCA-authorised entities (Propel Finance Plc and Propel Finance No. 1 Limited) can make the regulatory picture less straightforward than a single-entity lender

Is Propel Finance right for you?

Best for

UK SMEs seeking hire purchase, finance lease or vehicle/green asset finance from an established, fast-growing specialist lender

Not ideal for

Businesses wanting an upfront published rate card or minimum eligibility criteria before applying

Frequently asked questions about Propel Finance

Is Propel Finance legit?

Yes. Propel Finance Plc is an active company registered at Companies House (company number 04015132), formerly known as Henry Howard Finance PLC. It is authorised and regulated by the Financial Conduct Authority under FCA firm reference number 689877.

What asset finance products does Propel Finance offer?

Propel offers hire purchase, finance lease, vehicle finance and green (renewable energy) asset finance, plus PropelPay, an embedded point-of-sale finance option for equipment purchases.

What are Propel Finance's rates?

Propel does not publish a public rate card or representative APR. Pricing is quoted per deal based on the asset, deal structure and the applicant's financials.

Is Propel Finance FCA regulated?

Yes. Both Propel Finance Plc (FRN 689877) and its associated funding entity Propel Finance No. 1 Limited (FRN 751977) are authorised and regulated by the Financial Conduct Authority.

Is Propel Finance the same as Henry Howard Finance?

Yes. Propel Finance Plc was previously registered at Companies House as Henry Howard Finance PLC and rebranded to Propel Finance in December 2019.