Aldermore Invoice Finance is an SME-focused bank which operates with modern, scalable and legacy-free infrastructure.
Founded in 2009, and have grown significantly since then. Posting their first year of profits three years after launching and establishing Aldermore as one of the leading alternative banks.
Offering simple financial products and solutions to meet the needs of underserved Small and Medium-sized Enterprises (SMEs).
Aldermore Finance focus on specialist lending across four areas: Asset Finance, Invoice Finance, SME Commercial Mortgages and Residential Mortgages.
The companies lending activity is predominantly supported by the deposits we receive from Britain’s savers. By offering a genuine alternative to the incumbent banks, they are providing much needed diversification in the British banking landscape.
Having no branch network but serve customers and intermediary partners online, by phone and face to face through our network of twelve regional offices located around the UK. Aldermore is a retail bank that has built a solid reputation amongst businesses as a bank that offers flexible products and straightforward service.
Who are Aldermore Bank
Aldermore Bank were born out of a financial crisis in 2009 and now part of the FirstRand Group, they are drawn to the plight of UK small and medium sized businesses.
From farmers to freelancers, their specialist lending teams can give the support you need to help make things happen. They are here for those with ambition, because your success is their success.
Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.
Aldermore Invoice Finance
Invoice Finance from Aldermore allows you to quickly release cash into your business by converting the value of unpaid invoices into ready working capital.
One of their invoice finance products – invoice discounting allows flexibility allows confidential funding of your invoices so you can manage the collections with your own team. On the other hand you can decide to tap into Aldemore’s considerable expertise and allow them to manage collections. The choice is yours.
You will have dedicated support with your own relationships manager who will help you get set up on the Aldemore system. Once set-up you can view invoice transactions online and communicate with customers; upload invoices, see available funding and obtain up to a 90% advance within 24 hours of uploading an invoice. Aldermore’s relationship manager is there to help you with any ongoing cash-flow challenges you may have.
- Aldemore allows new start companies and a single debtor which is not usual as this increases the funding risk. Any risk there is can be nullified or at worst reduced by utilising the bad debt protection available.
- You can opt for a trial period typically between 3-6 months if this is a concern and are prepared to discuss stage payments unlike many other providers. This facility is usually seen in the construction or IT sectors.
- Aldemore will normally want a personal guarantee and expect the director to live in the UK and ideally have a family home. They will make exceptions for larger companies so worth asking if a concern.
- A point to note is that often only 10% of the debtor book personal guaranteed is claimed.
- Aldemore were named Finance Provider of the Year at the Credit Today Awards 2015 and Best Development Finance Provider at the Business Moneyfacts Awards 2015.
Advantages of using Aldermore Invoice Factoring
Some of the features and benefits of Aldermore’s invoice factoring :
- Access up to 90% of your invoice values
- Quickly release cash tied up in unpaid invoices
- Same day access to finance
- Practical, flexible finance solution
- Offers invoice factoring and invoice discounting
- Offers asset-based lending
- They approve 9 out of 10 applications
- Positive customer reviews
- Award-winning services
- Caters for a range of industries
Aldermore has been in financial services for eight years and they understand small businesses as they started off small themselves and know the challenges that they face. This is why they support the growth of small businesses in the UK.
Aldermore offers a range of finance options including invoice finance, invoice factoring, invoice discounting and asset-based lending. Aldermore’s invoice finance offering caters for a broad range of businesses including importers, wholesalers, haulage, construction, manufacturing and recruitment.
Aldemore Construction Factoring
Construction finance from Aldermore offers fast access to working capital. This is advanced against your uncertified applications for payment or staged invoices. This gives you a safety net for your finances, so you don’t have to rely on payment from your customer before you can make staff and supplier payments, or take on new projects.
Aldemore understands the construction invoice finance sector and has a solid reputation in the invoice finance industry for its expertise. Following a conversation with your relationship manager they will design a package designed specifically for your company.
Aldemore’s relationship manager will assess your cash-flow needs and even take consideration application or stage payments, which is very unusual. This means your relationship manager will have a great understanding of your contracts so you always have someone to talk to and get advice from. Unfortunately there are few funders who will look at this area of staged payments or applications for payment.
This means Aldemore capitalises on its unique experience and they take more of the risk of late payments for any reason not you. This can mean the difference between your company surviving and not.
Aldemore additional support does not stop there as they will also provide quantity surveyors, dispute resolution and industry specific specialists if needed. So, you can see why Aldemore have the reputation they do in the construction sector and associated trades such as commercial painters.
Benefits of using construction invoice factoring from Aldermore:
- Timely access to your cash – with funding advanced usually within 24 hours
- An expert team behind you – applying our long-established track record with contractors to help your business
- Peace of mind – our understanding of your contracts could help identify any potential issues before they happen
- Personal approach – we’ll make sure you know all your day-to-day contacts at Aldermore personally
- Flexibility – with access to on-site quantity surveyors, dispute resolution and other industry specific experts, should you need them
- Transparent – we’ll keep you informed every step of the way, clearly explaining how the facility will work and what it will cost
Invoice Discounting from Aldermore
Invoice discounting from Aldermore enables you to quickly access cash tied up in outstanding invoices. Instead of waiting around for weeks for your invoices to be paid, we can forward you up to 90% of the full value straight away.
Whether you want to relieve cash flow pressures, reduce finance costs or explore expansion plans, Aldermore can help you achieve your goals and grow your business. Confidential Invoice Discounting and disclosed Invoice Discounting is also offered.
- Quick access to funds – convert up to 90% of your full invoice value into ready capital, available within 24 hours of submitting your invoice
- Finance that grows with your business – the amount of available funding is based on your invoices, so as your business grows, so does the capital
- Confidential – your customers don’t need to know you’re using the facility
- Retain control – you stay in control of your own invoice collections
- Borrow against your invoices – no need for assets for security
- Bad Debt Protection Insurance is not included but can be added
Get a Invoice Finance Quotation
Get a quotation for invoice finance today, if you feel Aldermore Finance can support your business. Invoice Funding are one of the UK’s leading Aldermore Invoice Finance Brokers. We work closely with Aldermore and as such get preferential rates for our clients that we introduce to them. Our service is free of change as Aldermore pay us a commission. Simply complete the online enquiry to get started.