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Invoice financing for UK businesses

Get paid faster. Invoice finance for small to large businesses gives you access to the cash your business requires by releasing funds tied up in your outstanding invoices.

Millbrook Invoice Finance

  • Fast and straightforward to set up

  • Up to 90% value of invoices available

  • Dedicated account management

  • Facility size grows when you grow

  • Business to business sales

  • Approvals within 24 hours

What is Invoice Finance

Invoice Finance is an alternative business finance solution that allows a business to effectively sell their unpaid invoices to a lender. This is in return for cash up to a certain percentage of the original invoice value. This finance option is great for businesses that need quick access to working capital for growth and new projects.

Invoice finance can come in a variety of forms, most commonly invoice factoring and invoice discounting.

Invoice factoring works well for smaller businesses that have limited or no bookkeeping or credit control function in house. Credit control services are provided by the lender, and they collect the invoice payments directly to ensure customers pay on time. Factoring is generally disclosed to your clients.

Invoice discounting is perhaps the simplest form of invoice finance products. Unlike factoring, Invoice discounting works well for businesses that have access to an in-house bookkeeping or credit control function and can collect/chase invoice payments. Invoice discounting is generally confidential.

Alternative Forms Of Invoice Finance

Millbrook Business Finance can also arrange more intricate & specialised forms of invoice finance, including selective & spot discounting, construction finance and trade finance.

Selective & spot discounting allows your business to select specific invoices or debtors and raise funds when you require them. You are not contracted and can select when and what amount of funding you would like to arrange.

Construction finance provides access to funding by unlocking cash tied up in contracts. This type of finance has been specifically designed to support construction businesses, helping to fund contracts that are in progress and support cashflow.

Trade finance supports businesses involved with the importation or exportation of goods. A trade finance facility is a great way of raising the funding required to pay your supplier upfront, without having to self-fund out of valuable cash flow.

How To Apply For Invoice Finance

Step 1
Enquiry – Submit an enquiry via our online form or speak to an account manager by calling 0333 015 3301.

Step 2
Application – A finance application will be submitted to an underwriter with a decision granted typically within 3-5 days.

Step 3
Approval – Finance Approved. A copy of your finance agreement is sent to you for completion.

Step 4
Payout – Upon receipt of your signed agreement we process, activate and release funds

How does it work?

A business effectively uses their unpaid invoices as security towards a short-term finance agreement to secure a release of funds up to a specific agreed amount. Can be up to 90% of the amount of the invoice with the lender charging a fee and a monthly repayment cost until the invoice is paid. Any funds remaining after fee’s will be paid to the business.

There are a couple of difference variations where either the business or the lender will chase the payments of the invoices due.

Invoice Finance is used as a quick, flexible finance solution as it can scale as the company grows. We are here to help you find the best lender for your Invoice Financing requirements, with many specialist alternative finance lenders on our panel.

Advantages of Invoice Finance

We understand it can be difficult to know if invoice finance is the right funding solution for your business. Here are a few general advantages.

  • Boost cash flow – No more waiting around for your customers to settle invoices. Get funds released usually within 48 hours, giving you more time to focus on business growth.
  • Growth – More cash flow available to make improvements to your business faster than if you had to wait for invoices to be paid.
  • Approval rates – Commonly easier to arrange for businesses with bad credit as the security against the unpaid invoice is used as security
  • Cash access- Typically Invoice Financing can provide higher amounts of funds than products such as Business Loans or Asset Finance.
Disadvantages of Invoice Finance

Our core value at Millbrook Business Finance is honesty and transparency, so its important to consider a few disadvantages.

  • Potential costs – Your business may be required to pay an exit fee depending on the lender.
  • Strictly commercial – Finance is only available for invoices on that are business-to-business.
What are the fees and interest rates?

Lenders are offering finance agreements usually within a range of 0.5% – 3% for a monthly rate. There will be a couple of fees included with any invoice deal such as, admin fees and a service charge based on company turnover.

We do not charge you an arrangement fee for using our services. We want to help businesses get the best finance solution possible based on their financial circumstances.

Why Millbrook Invoice Finance?

No Hidden Fees

We believe in honest and transparent business finance. We DO NOT under any circumstances, charge arrangement fees.

Account Management

Obtaining invoice finance can be a difficult task. Our account managers have extensive experience organising affordable funding.

Simplicity

No jumping through hoops or performing backflips. Our application process is simple and straightforward.

Extensive Product Range

Factoring, Discounting, Construction Finance & Trade Finance all readily available.