Close Brothers Invoice Finance is the invoice finance arm of Close Brothers Group plc, a FTSE 250 merchant bank. Trading as Close Invoice Finance (closeinvoice.co.uk), it offers invoice discounting, invoice factoring, recruitment finance, and asset-based lending primarily to established UK businesses with £500,000+ annual turnover. This is our independent review for 2026, updated to reflect the group’s ongoing corporate restructuring (asset management and stockbroking sold in 2024–25; the invoice finance division is retained and operationally unchanged).
- Minimum £500K annual turnover required - Higher entry threshold than Bibby or Kriya limits accessibility for smaller businesses
- Best for construction and manufacturing - Industry expertise and specialised facilities suit B2B sectors with long payment terms
- Fees range 1.2-2.5% per invoice - Premium pricing reflects established bank backing and comprehensive service levels
- 90% advance rates available - Competitive funding percentages match Bibby Financial Services’ maximum offering levels
- 24-hour funding decisions - Faster approval than traditional banks but slower than fintech alternatives like Kriya
Close Brothers Invoice Finance Review: Key Facts
Close Brothers Invoice Finance offers invoice discounting and factoring for businesses with £500,000+ annual turnover, with facilities up to £5 million. Advance rate is up to 90%. It is rated 3.7/5 on Trustpilot overall (6,922 reviews) – however, this score reflects the entire Close Brothers Group and is heavily influenced by motor finance complaints unrelated to the invoice finance division. The invoice finance division is accredited under the British Business Bank’s Growth Guarantee Scheme (minimum facility £1,000 for eligible businesses up to £45m turnover). Check our Invoice Discounting UK for a closer look. For alternatives, see our Invoice Factoring UK. Our Bibby Financial Services Review has the latest figures. For a detailed comparison, see our Skipton Business Finance Review.
| Factor | Detail |
|---|---|
| Parent company | Close Brothers Group plc (FTSE 250 merchant bank) |
| FCA FRN | 124750 (Close Brothers Limited – full FCA authorisation) |
| Trustpilot | 3.7/5 – 6,922 reviews (group-wide; motor finance skews score) |
| Min. turnover | £500,000 (standard products) |
| Min. facility | £500,000–£5,000,000 (standard); £1,000 (Growth Guarantee Scheme) |
| Advance rate | Up to 90% |
| Sole traders | Generally excluded at standard thresholds |
| Startups | Growth Guarantee Scheme entry point only |
Close Brothers Invoice Finance Products
Close Brothers Invoice Finance offers invoice discounting (confidential, client manages credit control), invoice factoring (Close Brothers manages collections), recruitment finance (combines invoice finance with payroll support for recruitment agencies), and asset-based lending (ABL – a multi-asset facility combining invoice finance with borrowing against stock, plant, and property). The Growth Guarantee Scheme facility allows smaller or newer businesses to access invoice finance with a government-backed guarantee, with minimum facility size of just £1,000 – significantly lower than Close Brothers’ standard £500,000 threshold.
Close Brothers Invoice Finance Fees and Rates
Close Brothers uses a two-fee structure: a service charge (typically 0.5–2% of turnover for factoring; lower for discounting) and a discount rate (typically 2.5–3.5% above the Bank of England base rate – currently 3.75%, giving an effective annual rate of approximately 6.25–7.25% on drawn balances). Specific rates are negotiated individually and not publicly disclosed. The £500,000 minimum turnover means Close Brothers is positioned for mid-market businesses rather than early-stage SMEs. Always compare the full annual cost package (service fee + discount charge + any administration fees) rather than headline rates alone.
Close Brothers Group Corporate Changes (2024–2025)
Close Brothers Group has undergone significant restructuring: Close Brothers Asset Management was sold to Oaktree Capital (rebranded TrinityBridge, February 2025), and Winterflood Securities (stockbroking) was sold to Marex for £104 million (July 2025). The group is also subject to an FCA review of motor finance discretionary commission arrangements (DCA), with approximately £300 million provisioned as at October 2025. The Supreme Court partially ruled in the group’s favour in the Hopcraft case. The invoice finance division (Close Invoice Finance Limited) is operationally unaffected by all of these changes – it is a standalone business and remains part of the group.
Is Close Brothers Invoice Finance Right for Your Business?
Close Brothers Invoice Finance is best suited for established UK businesses with £500,000+ annual turnover seeking a relationship-managed invoice finance facility backed by a FTSE 250 bank. It is particularly strong for recruitment agencies (specialist payroll finance) and businesses needing an asset-based lending facility combining invoice finance with other asset classes. It is not suitable for startups, sole traders, or businesses under £500,000 turnover via standard products (use the Growth Guarantee Scheme route if you need access at this stage). The group-level Trustpilot score of 3.7/5 should not be used to assess invoice finance quality – seek references from businesses in your sector. We explore this further in our Best Invoice Finance Companies UK 2026.
Pros and Cons
Close Brothers invoice factoring review: bank-backed ABL from £50K. Credit protection, dedicated relationship managers. Our 2026 verdict.
