Top 36 Invoice Finance Companies UK: September 2024 Comparison

If your business could benefit from a revolving credit facility that is based on money owed to you then invoice finance could be the financial product for you. Invoice finance allows businesses to access the money owed to them by their customers as soon as they raise the invoice rather than waiting 30-90 days.

There are 2 types of invoice finance which are invoice discounting and invoice factoring. Invoice discounting is a confidential service where you retain control of your credit control.

Invoice factoring provides support for credit control, but it is a disclosed service. Some providers also offer selective invoice financing which allows you to select invoices to factor rather than your whole ledger. Below are the leading providers of invoice finance and what they offer.

Companies are ranked in no particular order.

Company	Max Release Value
ABC Finance	95%
ABN AMRO Commercial Finance	90%
Advantedge	90%
Aldermore	90%
Allied Irish Bank	90%
Bank of Scotland	90%
Barclays	90%
Bibby Financial Services	100%
Close Brothers	90%
Danske Bank UK	85%
giant finance+	100%
Hitachi Capital	90%
HSBC	90%
Independent Growth Finance	90%
Lloyds Bank	90%
MarketFinance	90%
Metro Bank	90%
Muse	Not stated
NatWest	90%
Nucleus Commercial Finance	100%
Paragon Bank	95%
Peak Cashflow	85%
Penny	100%
PFC Finance	90%
Pulse Cashflow Finance	90%
Royal Bank of Scotland	90%
Satago	Not stated
Satellite Finance	90%
Skipton Business Finance	90%
Sonovate	100%
Team Factors	90%
Time Finance	90%
Trade Finance Global	Not stated
Ulster Bank	90%
Ultimate Finance	95%
White Oak	95%

1. ABC Finance

Offers a range of invoice finance
Broker service with no fee
Will search the whole market for you
Invoice factoring
Invoice discounting
Selective invoice finance
Up to 95% of sales invoices
Service fee is charged
A discount fee is charged on funds borrowed
Apply over the phone

Website ABC Finance Invoice Finance
Read the full ABC Finance review

2. ABN AMRO Commercial Finance

Offers a range of asset lending products including invoice finance
Invoice factoring
Invoice discounting
Release up to 90% of invoice value
Flexible finance
Funds released in days
Professional credit control (factoring)
Dedicated Credit Controller (factoring)
Personal account manager/relationship manager
Apply over the phone

Website ABN AMRO Commercial Finance Invoice Finance
Read the full ABN AMRO Commercial Finance review

3. Advantedge

Offers a range of invoice finance products
Invoice discounting
Selective invoice discounting
Release up to 90% of invoice value
Access your account online 24/7
Same day payout if loaded before midday
Manage your own customer payments (discounting)
Will chase customer payment for you (invoice finance)
Choose the invoices you use for funding (selective invoice finance)
Apply over the phone

Website Advantedge Invoice Finance
Read the full Advantedge review

4. Aldermore

Offers a range of invoice finance products
Invoice discounting
Invoice factoring
Offers up to 90% of invoice value
Can be released within 24 hours
Discounting is offered to those with established credit control
Factoring provides credit control service
Online management of your account
Can add Bad Debt Protection
Apply over the phone

Website Aldermore Invoice Finance
Read the full Aldermore review

5. Allied Irish Bank

Offers confidential invoice finance
Release up to 90% of invoice values
Retain control of credit control processes
Invoice payments are paid into a designated collection account
A discount charge is applied to the funds
Percentage charge is agreed at the time of sanction
A service fee is also charged
They may require security
Doesn’t affect your relationship with your customers
Apply over the phone

Website Allied Irish Bank Invoice Finance

Read Allied Irish Reviews

6. Bank of Scotland

Offers a choice of invoice finance options
Access up to 90% of unpaid invoices
Receive funds within 24 hours usually
Funding that can grow with your business
Choice of single invoice or full invoice finance
Option of confidential invoice discounting
Can choose invoice factoring with sales ledger management support
Allows you to select the invoice you want to use (single invoice finance)
Online management
Apply through Lloyds Bank which they deliver in partnership with

Website Bank of Scotland Invoice Finance
Read the full Bank of Scotland review

7. Barclays

Provides invoice finance in partnership with MarketFinance
Selective invoice discounting
Confidential invoice discounting
Choice of flexible and ongoing funding
Provides up to 90% of invoice value
Allows you to fund some or all of your invoices
Grows with your business
Retain control of your customer relationships
Online management
Apply online

Website Barclays Invoice Finance
Read the full Barclays review

8. Bibby Financial Services

Offers a choice of invoice finance products
Invoice factoring
Invoice discounting
Manage through a secure portal
Release up to 100% of invoice values
Access funds within 24 hours
Discrete service although they manage your sales ledger (factoring)
Maintain your relationship with your customers (discounting)
Can combine with Bad Debt Protection
Request a call back to enquire/apply

Website Bibby Financial Services Invoice Finance
Read the full Bibby Financial Services review

9. Close Brothers

Offers a choice of invoice finance
Invoice discounting
Invoice factoring
Up to 90% of invoice values can be released
Maintain control of overpayment collection (discounting)
Confidential service (discounting)
Manages your collections for you (factoring)
The software integrates with accounting systems
Instant access to funds when you raise the invoice
Apply over the phone or enquire online

Website Close Brothers Invoice Finance
Read the full Close Brothers review

10. Danske Bank

Offers a choice of invoice finance
Invoice discounting
Full factoring
Release up to 85% of invoice value
Confidential service (discounting)
Retain control of your payments (discounting)
Disclosed service (factoring)
Manage your credit control for you (factoring)
Must have a Danske Bank current account
Apply over the phone

Website Danske Bank Invoice Finance

Danske Bank Reviews

11. Giant+

Offers a fast finance facility
Turns sales invoices into cash
Release up to 100% of your invoice amount
Invoice factoring service
Provides credit control service
Offers bad debt protection
Works under your agreed payment terms
Will manage all your payment processes
Simple to use service
Apply over the phone

Website Giant+ Invoice Finance
Read the full Giant+ review

12. Hitachi Capital

Provides a choice of invoice finance
Invoice factoring
Invoice discounting
Up 90% of invoices can be released
Funds released within 24 hours
Single fee solution from 0.45% to 5%
No hidden fees or set up costs
Minimum turnover of £50,000
Also offers payroll finance
Apply over the phone

Website Hitachi Capital Invoice Finance
Read the full Hitachi Capital review

13. HSBC

Offers a choice of invoice finance
Invoice discounting
Invoice factoring
Release up to 90% of sales invoices
Retain control of your sales ledger (discounting)
Confidential service (discounting)
Provides expert sales ledger management (factoring)
Arrangement fees apply
Can add credit protection to guard against bad debts and late payments
Apply over the phone

Website HSBC Invoice Finance
Read the full HSBC review

14. Independent Growth Finance

Offers invoice discounting
Provides up to 90% of invoice value
Revolving funding solution
Part of their asset-based lending
Can supplement invoice discounting against other assets
Confidential service
Designed to support growth
Apply over the phone or enquire online

Website Independent Growth Finance Invoice Finance
Read the full Independent Growth Finance review

15. Lloyds Bank

Offers a choice of invoice finance
Single invoice finance for occasional and seasonal uses
Invoice factoring
Invoice discounting
Release up to 90% of your invoices
Online management
Confidential service through discounting
Outsource your sales ledger management and reconciliation through factoring
Minimum turnover of £50,000
Apply over the phone

Website Lloyds Bank Invoice Finance
Read the full Lloyds Bank review

16. Market Finance

Offers a choice of invoice finance
Selective invoice factoring
Full invoice factoring
Contract or pay-as-you-go payment options
Release up to 90% of invoice values
Easy to use platform
Straightforward costs with no hidden fees
Apply in minutes
Dedicated account manager
Apply online or over the phone

Website Market Finance Invoice Finance
Read the full Market Finance review

17. Metro Bank

Offers a choice of invoice finance
Invoice factoring
Invoice discounting
Unlock up to 90% of sales value
Receive funds within 24 hours
Flexible contracts with 28 days notice period
Easy to use online system
Named Relationship Manager
Provides funding for small businesses up to £100,000
Apply online

Website Metro Bank Invoice Finance
Read the full Metro Bank review

18. Muse

Offers a variety of invoice finance
Single invoice factoring for a quick injection of cash
Selective invoice factoring to select which invoices to use for funding
Whole book invoice factoring usually for 12 months
Invoice discounting
Sales ledger management (factoring)
Confidential service (discounting)
Control your own sales ledger (discounting)
The amount released isn’t stated on their website
Enquire online

Website Muse Invoice Finance

19. NatWest

Offers an invoice discounting product
Release up to 90% of invoice values
Receive funds within 24 hours
Retain full control of your sales ledger
Available in GBP, USD and EUR
Confidential service
Online account management
Simple to use service
Dedicated Relationship Manager
Enquire online

Website NatWest Invoice Finance
Read the full NatWest review

20. Nucleus Commercial Finance

Offers an invoice finance solution
Release up to 100% of invoice values
Borrow from £100,000 to £50 million
Receive funds within 24 hours
An in-house team will support you through the process
Easy to use process
Repayment periods between 3 and 7 months
The facility can be put in place within a month
Available to businesses in England and Wales
Apply over the phone

Website Nucleus Commercial Finance Invoice Finance
Read the full Nucleus Commercial Finance review

21. Paragon Bank

Offers a choice of invoice financing
Invoice discounting
Invoice factoring
Up to 95% of invoice value
Offers short notice contracts
Simple fee structure with no hidden fees
Confidential service provided through discounting
Provides support from a dedicated credit controller
Also offers Bad Debt Protection
Apply over the phone

Website Paragon Bank Invoice Finance
Read the full Paragon Bank review

22. Peak Cashflow

Choice of invoice finance
Invoice factoring
Invoice discounting
Confidential factoring
Release up to 85% of invoice values
Offers bespoke facility with individual pricing
Retain your credit and collections management (discounting)
Minimum turnover of £50,000
Also offers Bad Debt Protection
Apply over the phone or enquire online

Website Peak Cashflow Invoice Finance
Read the full Peak Cashflow review

23. Penny

Invoice finance for businesses of all shapes and sizes
Funding from £1,000 to £1 million
Release up to 100% of the invoiced value
Quick and easy to set up
Upload the invoices you want to use
Exchange invoices for instant funds
No credit checks or personal guarantees needed
No interest or monthly fees
Fees from 1%
Available to businesses in England and Wales

Website Penny Invoice Finance

24. PFC Finance

Choice of invoice finance
Provides a brokerage service
Invoice factoring
Invoice discounting
Up to 90% of invoice values released
Confidential facility (discounting)
Monthly finance facility
Caters for a range of industries
Apply over the phone

Website PFC Finance Invoice Finance
Read the full PFC Finance review

25. Pulse Cashflow Finance

Offers a choice of invoice finance
Invoice discounting
Invoice factoring called invoice finance on their site
Release up to 90% of your outstanding invoices
Credit control and sales ledger management solution (invoice finance)
Confidential solution (discounting)
Control your own sales ledger management
Transparent fees
A minimum fee of £550 per month with a set percentage
Apply over the phone

Website Pulse Cashflow Finance Invoice Finance
Read the full Pulse Cashflow Finance review

26. Royal Bank of Scotland

Offers invoice discounting
Release up to 90% of outstanding invoices
Receive funding within 24 hours
Offers the service in GBP, USD and EUR
Online account management
Retain control of your sales ledger
Confidential service
Dedicated Relationship Manager
Turnover above £300,000
Enquire online

Website Royal Bank of Scotland Invoice Finance
Read the full Royal Bank of Scotland review

27. Satago

Offers invoice finance options
Single invoice finance (factoring)
Full invoice finance (discounting)
Choice of pricing models – per invoice or bulk pricing
Minimum contract of 12 months on full invoice finance
Confidential service on full invoice finance
Offers fast approval and drawdown of funds
Includes automated month-end reconciliation
Also includes automated credit control tools
Apply online

Website Satago Invoice Finance
Read the full Satago review

28. Satellite Finance

Provides a choice of invoice finance
Brokerage service
Invoice discounting
Invoice factoring
Select invoice discounting for singular invoices
Up to 90% of outstanding invoice value released
Confidential service (discounting)
Retain control of sales ledger and debt control (discounting)
Third-party management of your sales ledger (factoring)
Apply over the phone

Website Satellite Finance Invoice Finance
Read the full Satellite Finance review

29. Skipton Business Finance

Provides a choice of invoice finance
Invoice factoring
Invoice discounting
Up to 90% of unpaid invoices released
Choice of confidential and disclosed
Advance funds from £25,000 to £5 million
Retain control over your credit control (discounting)
Manage your credit control (factoring)
Receive funds in 24 hours
Enquire online

Website Skipton Business Finance Invoice Finance
Read the full Skipton Business Finance review

30. Sonovate

Offers an invoice finance package
Advances up to 100% on invoices
Funding within 24 hours
Online account management
Single fee with no setup costs
Rolling contract
Connects with your accounting software
Can auto-sync transactions and generate financial reports
Offers bad debt protection
Enquire online

Website Sonovate Invoice Finance

31. Team Factors

Offers invoice factoring
Release up to 90% of invoice values
An account can be set up in 48 hours
Immediate payment on invoices raised
No hidden costs
Includes customer credit checking service
Offers a rolling 30 day contract
Can factor all or some of your customer accounts
Also offers payroll and debtor protection products
Enquire online or call them

Website Team Factors Invoice Finance
Read the full Team Factors review

32. Time Finance

Choice of invoice finance products
Offers disclosed and confidential options
Optional credit control service (disclosed, factoring)
Up to 90% of invoice values can be released
Funding within 24 hours
Retain credit control (confidential, discounting)
Online management system
Suitable for start-ups to larger businesses
Also offers Selective Bad Debt Protection
Apply over the phone

Website Time Finance Invoice Finance
Read the full Time Finance review

33. Trade Finance Global

Offers an invoice finance hub
Brokerage service
Unlock working capital from domestic and international invoices
Invoice discounting
Invoice factoring
Provides product specialists
Assistance in finding the best solution for your business
Manage your sales ledger (factoring)
Retain control of your sales ledger (discounting)
Enquire online or call for more details

Website Trade Finance Global Invoice Finance
Read the full Trade Finance Global review

34. Ulster Bank

Offers an invoice finance facility
Web-based system called FacFlow
Up to 90% of invoice values
Quickly release funds on the same day
Confidential facility
Retain responsibility for your sales ledger and credit control
Secure service
Dedicated and experienced relationship management team
Suitable for businesses with a minimum turnover of £500,000
Apply by arranging a meeting over the phone

Website Ulster Bank Invoice Finance

Ulster Bank Reveiws

35. Ultimate Finance

Offers a choice of invoice finance
Invoice discounting
Invoice factoring
Up to 95% of unpaid invoice value released
Maximum borrowing of £5 million
Set up within a week and funds paid within 24 hours
Confidential or disclosed service
Set up and service fees apply
Dedicated specialist relationship manager
Apply over the phone

Website Ultimate Finance Invoice Finance
Read the full Ultimate Finance review

36. White Oak

Provides a choice of invoice finance
Invoice discounting
Invoice factoring
Release up to 95% invoice values
Borrow from £200,000 to £5 million
Confidential service (discounting)
Collects payments on your behalf (factoring)
Suitable for businesses that have been trading for over 3 years
Must have a turnover between £200,000 and £10 million
Apply online or request a callback

Website White Oak Invoice Finance
Read the full White Oak review

How does invoice finance work?

Invoice finance is a way to release funds from invoices as soon as they are raised. Typically, you can enter or upload an invoice into your invoice finance providers software as soon as the invoice has been issued so that you can draw down funds. The invoice finance provider will normally release the funds within 24 hours up to around 90% in most cases. What happens next in terms of collecting the payment from the customer depends on the type of invoice financing and the provider’s processes/services.

If you opt for an invoice discounting service, you will continue to manage your credit control and chase customers for payment, but the payments may be paid into a confidential account in your name. The provider will take both the amount owed and the fee for the service before transferring the balance to you.

If you choose an invoice factoring service then the provider will take over your credit control service and will chase payment for your invoices. This type of invoice finance is not a confidential service like invoice discounting.

Selective invoice discounting is similar to invoice discounting and is confidential, but it also allows you to select which invoices are used for the service and which aren’t. This allows you even greater control of your sales ledger.

Invoice Finance FAQs

How much can I borrow?

The amount you can borrow will depend on the provider, the value of your invoices and the amount of lending the provider deems you are eligible for.

Most providers do not detail the amount that they offer in terms of borrowing but several offer up to £5 million.

Most lenders offer up to 90% of the invoice value with a few providers offering 95% or 100%.

How much will invoice finance cost?

The cost of invoice finance is not disclosed by most providers, but their fees are normally split into two types of charges.

The first charge is a service charge that is a fee for accessing the service which is charged a contract fee.

The second charge is the margin fee or discount rate that is applied to every invoice transaction, and this is normally a fixed percentage amount that is taken when the customer pays the invoice.

Selective invoice discounting can be charged differently as a service fee may not be charged and margins can differ.

How long can I borrow money for?

Invoice finance borrowing terms mirror the payment terms of customer invoices as the funds are repaid when the customer pays their invoice.

The money goes directly to the invoice finance provider and they take their fee before transferring the remaining funds to you.

The length of the term matches the payment terms which could be 30, 60 or 90 days.

How to apply for invoice finance?

Most invoice finance providers request that new applicants contact them over the phone or enquire on the website and they will contact you.

A few allow you to apply online. You will need to check that you meet their criteria, and some checks will take place by the lender to ensure your suitability.

Setting up an invoice finance facility can take up to a week due to the checks as well as getting you set up on their online management systems to upload invoices.