If you’re looking for the best invoice factoring finance company for your business, you don’t need to spend some time going through all the options. In this article you will find top 10 invoice factoring companies in uk, if you are business owners and looking for funding option for your business.
Top 10 Invoice Factoring Companies
Invoice funding helps businesses improve cash flow, pay employees and suppliers and reinvest in operations and growth earlier than they could if they had to wait until their customers paid them.
Invoice funding can be structured in a number of ways, most commonly factoring or discounting. With factoring, the company sells its outstanding invoices to a lender, who might pay the company 70% to 85% of what the invoices are worth, up front.
Bibby Financial Services offers invoice factoring and discounting services to SMEs and larger corporations throughout the UK. As one of the leading providers of debtor invoice finance, with more than 7,000 businesses on their books, Bibby can offer advice to specific industries such as construction and recruitment.
Hitachi Capital Invoice Finance is a large provider of debtor finance to SMEs with an annual turnover of £100,000 to £10 million. They offer short-term rolling contracts of six months following an initial six-month trial period, so you are not tied in to a long contract and have time to establish whether invoice financing is for you. The company has been in business since 1982.
Market Invoice has developed an online platform for invoice factoring, supported by global investors. The company is a member of the Peer-to-Peer Finance Association, and their system runs in a similar way to crowdfunding.
Market Invoice offers a compelling package of services, particularly for smaller businesses watching their costs. They also offers valuable flexibility with no contracts or hidden fees.
Close Brothers Invoice Finance is part of merchant bank, Close Brothers Group Plc. Originally established in 1878, this leading financial player is known for its expertise within specialist markets.
Close Brothers offers factoring and discounting, with up to 90% of the value of approved invoices being available. They serve small and medium sized businesses throughout the UK and Ireland, and will take into account your objectives in business as well as turnover and the industry in which you operate.
IGF has been in business since 1997, and form part of the Greater London Enterprise Group. The unique selling point of this factoring provider appears to be championing the growth of SMEs, meeting their ever-changing needs, and adapting the products offered as each business achieves its potential.
As part of the Royal Bank of Scotland Group, RBS Invoice Finance has the backup and support of this banking giant. With extensive experience in every aspect of business lending, RBS is one of the largest factoring companies in the UK.
Lloyds Bank Commercial Finance is a leading provider of factoring and confidential invoice discounting solutions, as well as asset-based lending. The company has sector-specific experience and offers a dedicated Client Manager as your ongoing point-of-contact.
Funding Circle is a peer-to-peer lending marketplace that allows investors to lend money directly to small and medium-sized businesses.
Funding Invoice launched as a spinout company of the university in October 2015 and has since provided over £3m worth of finance to some of the UK’s most ambitious and innovative invoice factoring companies. It’s an online platform where businesses can raise fast and flexible finance.