Invoice factoring Company

06 Jan

Close Brothers Invoice Finance Reviews and Complaints »

by Invoice Factoring Forum

Would you like to review or provide feedback on your experience of Close Brothers Invoice Finance? Reviews are at the bottom of this page and links to some interesting articles and blogs below.

It is probably fair to say that if you are looking for a provider of invoice finance there are better options out there in terms of pricing, structure of facilities and customer service levels. In terms of reputation there are also better options in our opinion. The reviews however will speak for themselves so please take a look at them and feel free to contribute your own experiences.

Close Brothers Invoice Finance are part of Close Brothers Group Plc and provide invoice finance solutions to over 1,000 clients. They are a national player with full UK coverage. They also offer invoice finance facilities in Ireland and Northern Ireland.

They are one of the larger independent invoice finance companies with offices in Brighton, Manchester, Dublin and Belfast.

In our opinion, more common complaints about Close Brothers Invoice Finance include their lack of flexibility, charges such as minimum base rates, their arrogant approach and some people have described them as ‘unapproachable’.

Complaints below highlight their attitude, the poor quality of their system and the high fees some clients are charged for funding which is often restricted.

An independent blog post about Close Brothers putting a business into administration – click here

Article on Close Brothers Invoice Finance pricing – click here

Article regarding a restrictive facility structure – click here

Trustpilot makes for some interesting reading – click here

It also appears there is a blog dedicated to Close Brothers – click here

Close Brothers also feature in an article on complaints about wealth management companies where it states, “Close Brothers also features on the list with 169 complaints, but its complaints are related mostly to banking and credit with none related to investments.” While this is not linked directly to the invoice finance arm of Close Brothers we find it interesting as it gives a feel for the overall organisation and what they might feel is acceptable. For the article – click here

An extract from one Trustpilot review reads, “AVOID AVOID AVOID….

When making a complaint no manager or person of authority bothered to speak to me directly then they say they are just closing my complaint down, when I said I’m not satisfied with the outcome, you don’t expect a large company such as this to just ignore customers, in my opinion this company is slimy and deceptive and lack the ability to treat customers fairly.

I’ll wait for the standard message they send saying they are sorry I feel this way, if they were sorry they would of dealt with my issue when they had the chance.
AVOID AVOID AVOID”

If you would like to share your experiences of Close Brothers Invoice Finance please feel free to do so but please try to be objective and refrain from abusive remarks.

03 Jan

Factoring Company – Manchester »

by Invoice Factoring Forum

If you are a business in Manchester looking for a factoring company you have an array of factoring companies available to you. The challenge however remain finding the right one for your business and that is dependent on a lot more than location. If you need assistance please visit the website of Smart Factoring Quotes.

There are several factoring based in Manchester and these include Skipton Business Finance, Venture Finance, Positive Cashflow, Ultimate Finance, Ashley Commercial Finance and Bibby Financial Services. There are also the major national factoring players with the capabilities to service businesses in Manchester.

So if you are looking for a Manchester Factoring Company what should you be looking for? That will depend entirely on your own businesses requirements and characteristics. Depending on your size, sector and requirements there will undoubtedly be a factoring company that is best suited to meet your factoring requirements.

Smart Factoring Quotes is fully operational in Manchester and would welcome the opportunity to assist you.

11 Dec

Gener8 Finance »

by Invoice Factoring Forum

Gener8 Finance offer invoice finance facilities to the true SME’s of the market. They also approach things slightly differently to most independent invoice finance providers. They operate on a flat monthly fee in comparison to fees that are charged by way of a percentage of turnover. This fee is based on the size of the facility you require. They will also consider ‘invoice discounting’ facilities for smaller businesses which most invoice finance lenders won’t.

The business was started by Dave Richards who was previously at IGF after he had done some analysis of what the market wanted. I understand a lot of this analysis was done while acting as a broker. I think the approach was developed in part to meet client needs and in part to come up with a unique offering.

Has the new approach worked? The feedback I have from Gener8 Finance is that things are going well which is good and they have been able to expand their sales force which backs this up.

From my side I am not sure the flat fee structure is really revolutionary but I sense it appeals to some clients and can be perceived to be cheaper. Personally I am not convinced it is cheaper but I can see why the approach would appeal to SME’s who want to be able to budget. I am also not sure a true invoice discounting product is offered but I don’t see that as an issue.

If you are an SME and you are looking for a suitable invoice finance provider then it is worth contacting Smart Factoring Quotes to see which lenders are best placed to meet your needs.

06 Dec

SME Invoice Finance »

by Invoice Factoring Forum

SME Invoice Finance are an independent invoice finance company based in Guildford.

In the early days they were looking to provide invoice discounting facilities to smaller companies that would ordinarily not qualify. These days they seem to be taking a more traditional approach.

They have grown considerably in recent years through the acquisition of Potential Finance and RDM Factors and they also bought the book of Challenge Finance when their funding line was pulled by Coface.

In my experience with SME they have a fairly cautious approach and sell on the basis of good service levels which they back up by explaining they have one of the longest client lifes in the industry. On that basis they generally do not compete on price levels as they believe their service represents good value.

If clients are happy then they are clearly doing something right. Staff retention also seems very good as do their profits so it seems to be a well run operation.

In terms of my client base I have introduced SME Invoice Finance on several occasions alongside some of their competitors and in most cases they seem to miss out because of prepayment levels being too low, pricing being to high or security requirements being too stringent.

My role as a broker is merely to explain what options are available to clients rather than selling in a particular lender. I explain all the costs involved and how each facility will operate and from there let them make a choice. To date we have not done much business with SME so clearly they are not for everyone. That said, they are a well managed business and they will be a very good option for some businesses.

25 Nov

Invoice Factoring – Newcastle »

by Invoice Factoring Forum

Invoice Factoring – Newcastle

Invoice Factoring is available throughout the UK but which invoice factoring companies have a true presence in Newcastle? Smart Factoring Quotes have an office in Newcastle.

Newcastle was an industrial heartland of heavy industry within the UK but today it is not dominated by large industrial employers. It thrives on the back of local entrepeneurs who have started successful SME’s.

These SME’s require funding and for businesses that sell or provide a service to other businesses invoice factoring or invoice discounting can be an ideal solution.

Newcastle is actively covered by several players. These include Bibby Financial Services, Aldermore Invoice Finance, Lloyds TSB Commercial Finance, Close Invoice Finance and Skipton Business Finance. There are also another dozen or so lenders who are very happy to assist businesses in and around Newcastle.

Smart Factoring Quotes also have an office in Newcastle and a real desire to help local SME’s. If you are an SME in Newcastle looking for a factoring facility it is worth understanding which lender and which product is best suited to your business. Smart Factoring Quotes can help you find both the right lender and the right product – simply contact us on 0845 863 0738 or visit or website. We can assess all the local offerings and also draw on contacts across the UK to find the best solution for the requirements of your business.

Each lender has very different criteria and capabilities. They are each suited to different types of businesses and it is imperative that you select the right lender for your business. Entering into what is typically a 15 -0 18 month contract with a lender that can’t really provide what you are looking for can be very detrimental to you business. It can also be very time consuming and costly.

23 Nov

Skipton Invoice Finance »

by Invoice Factoring Forum

Invoice Discounting Services

They are the invoice finance arm of Skipton Building Society and provide a full range of recourse invoice finance solutions. If you require a non recourse invoice finance facility they can source an appropriate credit insurance policy from a third party provider.

We have dealt with Skipton Invoice Finance on several occasions and they can do an excellent job with their traditional approach to invoice finance. When I say traditional I am referring to their credit policy which relies heavily on the quality of the debt and the quality of the people within the business. They accept that some businesses have financial difficulties and as such fall foul of the banks criteria for invoice discounting. Their approach is a flexible one and their product offerings can meet the needs of a client but also mitigate any risks that are associated with a deal.

It would be fair to say that Skipton Invoice Finance are not for everyone and they will be the first to admit this. However, in some situations they can offer what other lenders don’t. Their communication style is also direct which means clients know exactly where they stand.

20 Nov

Bibby Factors »

by Invoice Factoring Forum

Bibby Financial Services offer factoring, invoice discounting and trade finance solutions to businesses.

They ae the largest independent invoice finance provider in the UK with regional offices across the UK from Hastings to Edinburgh.

I have had a lot of dealings with Bibby and while their service levels can vary from office to office I feel that overall Bibby are a creative and solutions oriented lender.

Bibby are sometime criticised for their additional charges but in fairness to them I find their pricing to be competitive within the market and typically they price related to the risk taken which is fair. Bibby Factors will also come up with solutions that other providers of invoice finance often won’t.

If you would like to contact Bibby Financial Services or find which lender is best suited to your needs then please contact Smart Factoring Quotes on 0845 863 0738.

19 Oct

Invoice Factoring Companies »

by Invoice Factoring Forum

Invoice Factoring Companies within the UK range between the arms of the high street banks such as HSBC through to small family owned outfits such as Factor 21. Most of them offer the same basic services which are factoring and invoice discounting and some offer specialised services such as confidential factoring and trade cycle finance. However, it is important to remember that the same product from different lenders can be a very different proposition. It can differ on many levels such as price, actual prepayment level, the way you operate the facility and notify the invoices, the way the service is delivered by the lender, etc..

There are roughly 45 invoice finance companies in the UK so there is a good choice. Typically depending on the unique needs off your business there will be a lender that is best suited to your needs. The problem is in identifying that lender. Unfortunately the factoring companies are sales focused and as such all will try to convince you that their offer is best for your business.

If you want some impartial and independent advice contact Smart Factoring Quotes.

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