Business Overdrafts
Be financially flexible with a business overdraft.
Invoice Factoring
A flexible solution to help boost your cash flow, now and into the future.
Get a quoteWhat is Invoice Factoring?
Invoice Factoring (also known as debt factoring) is a type of invoice financing that allows you to release cash quickly from your sales ledger on an ongoing basis, to improve your cashflow.
Our Invoice Factoring solution has flexibility to include a credit control service where we can manage collections on your behalf, so you can focus on your business priorities.
How can an Invoice Finance facility help my business?
What are the differences between Invoice Factoring and Invoice Discounting?
|
|
Invoice Factoring |
|
|---|---|---|
|
Funds whole sales ledger |
Invoice Factoring
|
|
|
Credit control services |
Invoice Factoring
|
Not available |
|
Confidential service so customers are not aware |
Invoice Factoring Not available |
|
|
|
Invoice Factoring
|
|
|
|
Invoice Factoring Not available |
|
What do our customers say about Invoice Factoring?
Flora & Curl
“When orders started to increase, I knew I needed financial support to take Flora & Curl to the next level. The support from Lloyds Bank has allowed me to take on much larger orders and build the brand on an international level.”
Rose Ovensehi, Founder and CEO of Flora & Curl
How does Invoice Factoring work?
Frequently asked questions
-
No, you can apply even if you don’t bank with us.
-
If your business would benefit from an ongoing boost to its cashflow and you turn over more than £50,000 per annum, then Invoice Factoring is a flexible solution to free up time spent chasing customer payments and running credit control.
-
By assigning your invoices to us, you can access up to 90% of the invoice value typically within 24 hours. Your customers will pay into a central account and cash will be allocated on your behalf, at which point you'll receive the remaining value minus our fees and charges.
-
Yes, a notice of assignment is added to each invoice and your customers make payments directly to us.
-
It doesn’t, although we review your personal credit files as part of our checks, it won’t affect your credit score or your ability to get personal finance.
-
Invoice Finance available funds grow in line with your business sales unlike loans and overdrafts. Get a quote today to get an indication of our fees and charges.
-
Call us 0800 169 4356. Lines are open from 9am to 5pm, Monday to Friday, except public holidays. Alternatively request a call back.
Debtor Protection
Give yourself peace of mind by protecting up to 90% of an invoice, should your customer fail to pay.
Available alongside a Lloyds Bank Invoice Factoring or Invoice Discounting facility, and if your business turnover is more than £200,000.