Aldermore Invoice Finance was announced today as the new name for Absolute Invoice Finance that was previously Cattles Invoice Finance. While not a new invoice factoring company it is now part of a bank which can offer asset finance and commercial mortgages.

Aldermore Bank is described as ‘the new British bank’ and was formed by the merger of Ruffler Bank Plc and Base Commercial Mortgages. It is wholly owned by a private equity firm AnaCap Financial Partners Plc and it targeting savers by offering attractive rates and SME’s through asset backed lending.

Personally I have never been sure about Cattles and more recently Absolute Invoice Finance mainly due to pricing, credit appetite and having been let down a few times recently. They are assuring everyone of the same level of service so I am not sure that is a good thing.

That said, alongside invoice factoring and invoice discounting they have asset finance capabilities and offer both residential and commercial mortgages and may be the best lender for some clients. They can certainly look at more asset classes than most of the independent invoice finance providers. They are also claiming to be very liquid and open for business so it will be interesting to see how things progress.

I wish them well and hope that things do improve. It is always good to see lenders develop new capabilities and bring new offering to SME’s.

If you are looking for an invoice finance facility and want to know what options are available to you contact Smart Factoring Quotes today.