As it turns out, this is one of RBS’s strong points. Still, there’s plenty of things to love about having a relationship manager – for starters, that you’ll receive excellent customer service. And, with dedicated invoice finance teams based at Basildon, Guildford, and Sheffield, Metro Bank offers some solid in-person, email, and phone-based support, too. Instead, it just asks for 28 days' notice – seems reasonable, right? In contrast to many other invoice finance providers we reviewed – which can be quick to penalise any attempt to leave a contract early – Metro Bank charges no cancellation fees. With Metro Bank’s small business-oriented invoice finance solution, you can access a funding line of up to £100,000.īut what we love most about Metro Bank’s approach is its surprisingly forgiving cancellation policy. There are no discount fees, while Metro Bank also does away with the setup charge, and scraps any minimum costs going forward. This last one is ideal if your enterprise is in the early stages of its growth, and comes with just a single, transparent cost. Metro Bank offers three main invoice finance facilities: factoring, discounting, and funding tailored to small businesses. To utilise Skipton Business Finance’s confidential invoice discounting facility, you’ll need an annual turnover of around £100,000. It handles all the admin and hassle that comes with chasing clients – as a factoring service does – but, like a discounting facility, comes with all the benefits of a confidential facility. However, they’ll use your company’s logo and branding while they chase up your invoices, so your customer will have no idea that you’re using a finance facility!Įssentially, ‘My White Label’ combines the best of both worlds. When you use it, Skipton’s team will provide both the finance and the credit control. Nope – least of all because of Skipton’s flagship confidential solution, ‘My White Label’, is so wonderfully effective. Should we be surprised Skipton boasts an almost flawless 4.6/5 rating on Trustpilot? Here’s what you’ll pay: TurnoverĪs a Skipton invoice finance customer, you’ll also get access to a relationship manager, who’ll walk you through your bespoke package and answer any questions you may have. You won’t pay any setup fees either, and it’s also available to new businesses – a rarity for many lenders. Unlike several other of the invoice finance providers listed here, Skipton also offers invoice factoring that’s entirely interest free. You’ll receive up to 90% of the invoice’s value in a quick cash injection, and Skipton will advance anywhere between £25,000 and £5 million in funds. You’ll be eligible for finance against your invoices as soon as you submit them, and Skipton promises to pay up within 24 hours. Regardless of the facility you select, you must be registered as an LLP within the UK or Ireland. Utilising this add-on increases your fees, but loosens the prerequisites in terms of your turnover and trading history.īad debt protection (here called ‘Credit Insurance’) is also available as an add-on for an extra cost, and is supplied by third-party provider Euler Hermes. It does offer confidential credit control as an add-on, although this is provided by a third-party company called Veritas Commercial Services. Unlike many of the other invoice finance providers here, MarketFinance doesn’t offer invoice factoring – just discounting. Two years (one year with the credit control add-on) This service is completely confidential.Įntirely confidential invoice discounting is also available, though the eligibility criteria is more stringent – see the table below for more.
For one, MarketFinance offers selective invoice finance – a solution which allows you to receive funding on just one invoice, rather than your whole ledger.