Invoice Financing Companies in the UK
There are several
invoice financing companies in the UK, but which is best for your business? Creative Capital was the first specialist invoice finance company in the UK, and since then, they’ve expanded their offering to include Stock Finance and Trade Finance. Below, we take a closer look at five of the top providers. You can also find out more about each one and their services. Invoice financing is a fast, convenient way to meet cash flow requirements and keep your business afloat. If you would like to read more information or learn more about invoice factoring, you can do so here.
Bibby Financial Services
Bibby Financial Services is a multinational corporation that specialises in providing financial solutions for SMEs. You can use Bibby’s finance to purchase new equipment, make lease payments, or refinance existing assets if you need additional funding. You can even use Bibby’s finance to refinance existing assets and own them when you have completed all payments. Bibby Financial Services is a leading provider of financial services, with a particular focus on invoice financing.
Founded in 1982, this company combines global reach with local expertise to offer small businesses a wide range of financial solutions. They can help businesses unlock funding in various situations, such as cash flow difficulties, business expansion, or growth. Its website showcases specialist financial services for construction, recruitment, and energy, as well as a broad range of invoice financing solutions.
Bibby Financial Services also offers Export Finance, which helps you access funds for international invoices. International invoices often take longer to settle due to cross-border barriers. Bibby Financial Services’ export finance offers assistance with language barriers, currency exchange, and other issues that may arise while exporting. Furthermore, customers benefit from Bibby Financial Services’ 24/7 online account management. The company also offers various payment terms and a low minimum invoice value.
Skipton Business Finance
One of the UK’s leading invoice finance providers,
Skipton Business Finance, is based in the town of Skipton in the North Yorkshire region. It provides flexible invoice financing solutions, including invoice factoring, invoice discounting, and MBO funding. It is a wholly-owned subsidiary of Skipton Building Society. Located outside London, it is easily accessible for businesses in the north of England.
Another great feature of Skipton Business Finance is its My White Label product, which lets you handle all the processes associated with invoice financing in your company name.
This product comes with no annual renewal fees and no bank fees.
The only fee associated with it is a service charge, which is generally between 2% and 3.5% of the invoiced turnover. You can pay the monthly service fee directly to the provider or spread the cost across several different payments.
As an invoice finance provider, Skipton Business Finance offers an attractive option for small businesses in the UK.
As a subsidiary of the Skipton Building Society, this company has been approved as an Enterprise Finance Guarantee (EFG) borrower.
This scheme allows banks to lend money to small businesses without requiring them to place security. Invoice factoring and discounting can provide up to 90% of a business’s unpaid invoices. They also take responsibility for collecting payments from clients.
If you need finance for your business, the
Aldermore invoice financing company may be the best choice for you. Its business lending team is led by Carl D’Amassa and offers SMEs a range of financial products. The company is dedicated to providing fast and transparent customer service and is focused on SME businesses. The company also offers factoring, contract finance, and asset-based lending.
The company is part of the FirstRand Group and offers a full range of services, including invoice financing. Aldermore offers invoice financing and asset-based lending, which uses your assets as security. Aldermore Asset Finance is an excellent way to access capital to finance expansion, mergers, and acquisitions. Contact Aldermore for more information. This invoice financing company will find the best solution for your business’s unique needs.
To get started, complete the application form below. A trained consultant will contact you as soon as possible to answer any questions you may have. Customers can contact the Aldermore team via email or telephone during regular business hours. The company guarantees a response within the same day.
Aldermore has regional SME offices in Birmingham, Leeds, Manchester, and Surrey. They also have networks in Banbury and Peterborough. These local offices are a great option if you live in an area with few factoring companies. In addition to their customer support team, Aldermore offers an industry-leading three-month free trial.
Close Brothers Invoice Finance
If you’re looking to improve the liquidity of your company’s accounts receivable, Close Brothers Invoice Finance may be your solution. With a 50-year history in the industry, the company’s expert team of financial experts are committed to providing the best possible service for their clients. Close Brothers works with clients on a case-by-case basis, getting to know your company to make the best possible decision.
Close Brothers provides the resources of an FTSE 250 company but also has local offices across the UK. The company’s team of advisers will understand your funding needs and find a solution that best suits your business.
While traditional business finance may require a bank account and a line of credit, the flexibility of invoice discounting makes it a more affordable alternative to traditional financing.
With close-brother relationships, you can take advantage of flexible repayment plans and quick access to cash tied up in outstanding invoices.
Unlike a bank overdraft, invoice discounting is confidential.
As a result, you won’t have to worry about your customers noticing the process, and you can adapt to the needs of your business.
Close Brothers is an excellent choice for invoice factoring regardless of your business’s size or industry. Close Brothers is a member of the Asset Based Finance Association and the FTSE 250. Its flexible repayment terms and competitive rates have made it a good option for many businesses. Close Brothers Invoice Finance has the experience and knowledge to help you maximise the cash flow of your business. If you’re interested in invoice factoring, contact Close Brothers Invoice Finance today.
Barclay’s Direct Service
Barclays may be the best choice if you’re looking for a direct invoice finance provider. They’re a global bank with various services from foreign exchange to global business. Through their direct invoice financing company, Barclays will buy your outstanding invoices and advance up to 90% of the invoice value within 24 hours. While the process may seem complicated and time-consuming, it’s remarkably confidential.
Barclays also assumes full responsibility for collections and credit control. Still, it’s important to note that Barclays requires a higher turnover to secure funding than other direct service invoice financing companies. Despite these unique requirements, Barclays’ direct service invoice financing company offers flexible payment terms, with low minimum turnover requirements and flexible repayment plans.
Businesses that turn over £500,000 a year can use this service for invoice discounting. They can even fund their entire debtor book. Barclays’ direct service invoice financing company is an excellent option if they need invoice financing for milestones, such as new product launches or expansions.
To make this possible, Barclays has partnered with MarketInvoice, Europe’s largest online invoice financing platform. This investment is part of Barclays’ strategy to expand its small business financial services and make them more appealing to SME customers. As a result, it will be easier for small businesses to access finance and improve their cash flow.
Moreover, it is an opportunity for the bank to partner with a fintech company and enhances their cash flow.
Whether you’re looking for a short-term cash injection or long-term working capital support,
Touch Financial can help. As an award-winning asset-based finance company, Touch Financial has secured relationships with several UK invoice finance providers, from long-established financial institutions to innovative Invoice Finance providers. Touch Financial aims to match your business with the most suitable funding solution and has a good reputation among UK businesses. When you apply with Touch Financial, you can expect to pay an administration fee and interest based on the terms of your invoice.
Other fees and terms are associated with different products, so comparing them carefully is essential. You’ll need to have a UK-registered address and permission to contact customers. For more information, visit Touch Financial’s website. Once you’ve filled out the online application form, you’ll receive a quote from an approved lender. Another great advantage of invoice finance is its flexibility. Many invoice financing companies offer short-term rolling contracts with a minimum of six months, so you can determine if the product is right for your business.
And with flexible repayment options, you can repay your debts on a schedule that best suits your needs. Invoice financing companies typically pay up to 95% of the invoice value, and they can settle your debts within 24 hours. In addition, they allow you to retain control of your credit and sales ledger. As long as you pay a small percentage of your invoice value, the whole process can be done in one day.
Invoice Financing Companies – Other Useful Links about Invoice Financing:
Factoring Rate Calculator
Invoice Factoring and Discounting 2022
Advantages and Disadvantages of Invoice Discounting 2022
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