Factoring and Invoice Discounting Companies
With 90 plus UK Factoring and Invoice Discounting companies for businesses to choose from, from banks through to private companies, we provide here some inital information on some of the key players and their profiles.
In no order or perferance:
In no order or perferance:
ABN AMRO Commercial Finance PLC
The Manchester-based financier provides funding from start-ups to large corporates with a turnover of £250m. With their no-call centre approach, they claim to offer a personal service, working “in the real world”.
Bibby Financial Services
16 local offices throughout the UK, Bibby Financial Services is the UK’s largest independent factoring and invoice discounting company. The business has established a market leading position, writing one in seven of all new invoice finance business contracts within the domestic market.
Close Brothers
A major banking, asset management and stockbroking group., they are listed on the London Stock Exchange and are a member of the FTSE 250. Close Brothers provide factoring, invoice discounting and asset-based lending for the mid-market, throughout the UK and Ireland.
RBS Invoice Finance
One of the largest providers of business and invoice finance in the UK, RBSIF have a network of national offices and close working practise across their various business that allows them to draw up a great deal of resources. Which is often what you need from a flexible and reliable finance partner.
Santander Invoice Finance
Having recently rebrand under one brand in the UK, Santander have also acquired the independent invoice finance company Liquidity, which they have now developed into Santander Invoice Finance. And unlike the majority of the big lenders, Santander actually increased small business lending by 25% in 2010 alone.
Hitachi Capital Invoice Finance
A division of Hitachi Capital (UK) PLC, part of Hitachi Ltd, based in Telford and Goring. Hitachi launched Inspired Cashflow in 2012, a new invoice option for business that features no set-up costs, and usually costs one per cent to two per cent of sales turnover.
HSBC Invoice Finance
HSBC has around 7,500 offices in 87 countries across Europe, the Asia-Pacific region, North, Central and South America, the Middle East and Africa. Suitable for international invoice finance, exporting businesses might choose HSBC invoice finance.
IGF Invoice Finance
Part of the Greater London Enterprise Group of Companies and owned by the London Boroughs, they offer a range of commercial finance services from invoice discounting and factoring to payroll, asset finance and development loans, for businesses turning over up to £10m. They claim to have greater flexibility than larger providers, and to meet any individual business' needs.
Lloyds Commercial Finance
Large firms account for 30 per cent of the Lloyds' total invoice discounting – even though they represent just 6 per cent of the lender's customer base. A 23 per cent market share means Lloyds is one of the biggest players.
Market Invoice
Launched in Market Invoice offers a similar approach to crowdfunding. The company acts as an exchange channel for business “sellers” to auction top quality invoices to a community of “buyers”, comprised of largely asset managers and high net-worth individuals. Really they are the middleman in the transaction, scrutinising the quality of seller and buyer. And the seller is free to choose when to use the service. There are no ongoing fees.
For more information on our factoring and invoice finance advice see here.
For more information on our factoring and invoice finance advice see here.
