The eQuip scheme was launched last year to help small and medium-sized businesses get funding for equipment by guaranteeing its residual value.
It now has 10 finance providers, including the well-known high-street names of Alliance and Leicester and Barclays.
WRAP investments manager Susannah McClintock said: "This is great news for recycling businesses applying to the eQuip scheme, as having more lessors on board should result in more competitive leasing quotes. In addition, there is the potential for these lessors to offer a greater variety of repayment options."
WRAP plans to guarantee £40 million-worth of assets over the next four years through eQuip.
Of this, over half a million pounds worth of machinery has already been guaranteed.