Metro Bank SME Finance are a funder of invoice finance and asset finance solutions that put the customer at the heart of everything Metro do.
They offer unparalleled levels of service and convenience and are continually reinventing the rules of banking, making every effort to remove the roadblocks and rules associated with traditional banks.
A champion of small businesses, they are passionate about providing Invoice Finance and Asset Finance services that make a difference. Metro believe in adding customer value at the core of our funding products and services.
Who Are Metro Bank SME Invoice Finance?
Metro Bank was formed in 2010, and was rebranded into Metro Bank SME Finance following the acquisition of the highly reputable SME Invoice Finance. They are the first UK’s high street bank to have opened in the past 150 years, and aim to be the ‘Entrepreneur’s Bank’.
They set low requirements, with startups to PLCs all eligible to apply without the need for first year accounts. Metro Bank also has tailored Small Business solutions that offer funding up to £100,000 and only one single service fee.
What is Metro Bank’s invoice financing?
Metro Bank provides small businesses with two primary types of invoice financing, along with a tailored, more accessible option for newer companies. Their goal is to offer funding solutions that are easy to manage, helping SMEs with cash flow support and relief for growth.
Invoice Factoring
Metro Bank’s invoice financing allows you to receive up to 85% of your invoice value within 24 hours, with the added benefit of letting Metro Bank handle credit control. This means they take on the responsibility of chasing payments, freeing up your time. Invoice factoring is ideal for businesses without an in-house credit control team, providing both the funds and the support you need to manage your invoices.
Invoice Discounting
This option works similarly to factoring in terms of cash flow but excludes the credit control support. Metro Bank provides the cash behind the scenes, while you maintain control of your ledger and client relationships. You’re responsible for ensuring payments are made. Invoice discounting is perfect for businesses that already manage their credit control independently and want a more discreet financing solution.
Small Business Option
Designed for smaller or newer businesses, this simplified package offers up to £100,000 in funding. With a single service fee and no additional discount fees, this option provides transparent pricing and access to essential funds for businesses that are experiencing growing cash flow demands.
How does Metro Bank invoice financing work?
Metro Bank’s invoice finance service is designed to be straightforward, allowing you to submit the invoices you wish to be paid while letting the funder handle as much of the process as you need. Here’s a breakdown of how it works:
Invoice Creation: You generate an invoice for your customer (debtor) for goods or services provided.
Upload Your Invoices: After issuing the invoice, you upload it to Metro Bank’s system. This step enables Metro Bank to review and prepare to fund the invoice.
Funds Availability: Metro Bank can make up to 85% of the invoice value available to you, often within 24 hours. This fast access to funds helps to support your business’s ongoing cash flow needs.
Credit Control by Metro Bank (Factoring): If you opt for Metro Bank’s factoring service, they will also take care of credit control. This means Metro Bank follows up on payments and manages collections on your behalf.
Payment Collection: Once your customer settles the invoice, the payment is sent directly to Metro Bank. Upon receipt, Metro Bank transfers the remaining balance to you, minus any applicable fees.
Why choose Metro Bank invoice finance?
Invoice finance is an effective way to convert your accounts receivable into immediate cash, and Metro Bank’s process offers several key benefits for small businesses.
1. Quick Access to Funds
Unlock cash from your unpaid invoices rapidly, with up to 85% of the invoice value available within 24 hours. This fast funding helps maintain smooth cash flow, allowing you to focus on growing your business rather than waiting for customer payments.
2. Flexible Terms with No Long-Term Commitments
Metro Bank’s invoice finance options come with flexible terms, requiring just 28 days’ notice for cancellation—without any penalties. This makes it an ideal choice if you’re looking for a short-term solution to address cash flow needs without being tied down.
3. Transparent Fees
With service fees ranging from 1-3% and discount fees from 1.5-3.5%, you’ll know exactly what to expect upfront. Their small business option even waives the discount fees, providing a cost-effective solution for smaller businesses.
4. Credit Control Support (If Needed)
For businesses using factoring, Metro Bank handles credit control by managing the invoice collection process and customer payments on your behalf, allowing you to focus on other aspects of your business.
Is Metro Bank invoice finance right for your business?
Metro Bank’s invoice financing services may be a great option if you:
- Run a small to medium-sized business that requires regular cash flow support.
- Offer products or services on credit and need to access funds before customer payments are received.
- Lack an in-house credit control team (factoring) or already have a dependable system for managing credit control (discounting).
Get A Quotation From Metro SME Finance
Invoice Funding are one of the UK’s leading Invoice Factoring Brokers. We have secured invoice finance for over 300 business since 2010. As an independent broker we introduce work to Metro Bank. We have secured preferential discounted rates for our clients. If you feel that Metro Bank SME Finance can support your business simply complete the online enquiry.
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Seasoned professional with a strong passion for the world of business finance. With over twenty years of dedicated experience in the field, my journey into the world of business finance began with a relentless curiosity for understanding the intricate workings of financial systems.