Best UK Factoring Companies | Working Cash flow Solutions

If your business sells to commercial customers, and thinking about Invoice Finance, you may want to know who are the Best UK Factoring companies and how you may be able to benefit from a process known as invoice factoring. This is where a company sells its invoices to a third party namely a factor, they then give you the money up front and then chases payment on your behalf.  This works because the money owed is a business asset so we are here to let you know more about the Best UK Factoring Companies.

The two types of factoring companies to choose from are: main high street banks offer business factoring services (although you do not have to choose the same bank that handles your other financing needs) or go for a specialised independent factoring company instead. Invoice Funding are one of the leading Invoice Factoring Companies in the UK.

Invoice Factoring Services From UK Banks

These high street banks provide invoice products and are worth investigating for their professional and flexible offerings:

  • Lloyds Commercial – factoring service is available to any company with an annual turnover of at least £50,000 and is especially suitable for start-ups or growing businesses. They offer a 6-month, no-obligation trial.
  • RBS Fac Flow– were named the Invoice Finance Bank of the Year in a 2012 poll and are one of the UK’s largest and most trusted invoice finance companies, offering a beneficial link between invoice finance and business banking.
  • Barclays – usually focus their invoicing services on companies with credit sales of at least £100,000 a year and work with a wide range of enterprises such as printers, distributors, transport firms and recruitment agencies.
  • HSBC Invoice Finance  – offer services to medium and large businesses (usually with a projected turnover of £250,000) and provide attractive packages that include credit protection, international factoring, online account management and no hidden charges.
  • Skipton Business Finance are part of Skipton Building Society Group family – recently voted in the top 100 companies to work for by The Times and their  funding lines start from as little as £25k and currently go up to £5m.
  • Aldermore Financefounded in 2009, Aldermore is a modern, legacy-free bank which challenges the established view of what banking should be. They deliver award-winning finance solutions to Britain’s small and medium-sized enterprises

Best UK Factoring Companies

  • Metro Bank is a specialist invoice finance company, focused on helping small businesses. Their flexible packages are designed with the customer firmly in the driving seat and they pride themselves on customer service and independent advice have been purchased by metro bank.
  • Bibby Financial Services are the UK’s largest independent factoring company. For an 85% return on the cash tied up in outstanding services, Bibby offer debt chasing, credit control and sales ledger management, which can be kept completely confidential (confidential invoice discounting). They offer help with overseas debt (international factoring) as well as bespoke packages for all industries.
  • Hitachi Capital provides award-winning invoice factoring and discounting to small and medium sized UK businesses. They offer easy to understand cash flow solutions, with good customer support, trial periods, price promises and a focus on friendly service.
  • Factor 21 The established, independent invoice finance company Factor 21 has changed its name to Advantedge Commercial Finance, with effect from 22nd January 2018. The name appears an interesting combination of the words “advantage” and “edge”.
  • MarketInvoice is an online platform that brings a combination of auction and crowdfunding to the invoice financing sector. The site is a 24-hour facilitator, enabling companies to sell their invoices to the highest bidder at any time of the day.
  • Ashley Business Finance Founded in 1993, Ashley Business Finance has grown quickly it focuses on small business. The holding company for them is Ultimate Finance Group plc which is itself a factoring company.

Should you need any more information on the Best UK Factoring Companies please complete our online enquiry form. The process is quick and simple, once we have received your enquiry, a funding specialist will contact you.

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