Close Brothers Invoice Finance is the invoice finance division of Close Brothers Group plc. It provides invoice discounting, invoice factoring and asset-based lending for established UK businesses. The division trades through Close Invoice Finance. This review covers the current product range, likely costs, eligibility and the main trade-offs for 2026.
- £500,000 minimum turnover guide - standard facilities target established B2B businesses, while smaller firms need to check the GGS route
- Up to 90% of an invoice advanced - the remaining balance is released after the customer pays, less the agreed fees
- Two-fee quote-based pricing model - a service fee applies to turnover and a discount fee applies to drawn balances
- Three core funding routes - confidential discounting, disclosed factoring and asset-based lending against wider business assets
- £1,000 Growth Guarantee Scheme facility - a possible route for eligible smaller businesses that pass the lender’s underwriting
Close Brothers Invoice Finance at a Glance
Bottom line: Close Brothers is a relationship-led lender for established B2B companies. It can release up to 90% of approved invoice value and can add asset-based lending when a sales ledger is not enough. Pricing is bespoke, not published on a rate card. The main barrier is scale: standard facilities generally start at £500,000 annual turnover.
| Feature | Current position |
|---|---|
| Provider | Close Brothers Invoice Finance, part of Close Brothers Group plc |
| Standard turnover guide | £500,000 per year |
| Advance rate | Up to 90% of approved invoice value |
| Standard facility range | £500,000 to £5 million |
| Pricing | Bespoke service fee plus discount fee; no public rate card |
| GGS route | Growth Guarantee Scheme facilities may start at £1,000 for eligible businesses |
| Regulation | Close Brothers Limited FCA-authorised, FRN 124750; B2B invoice finance is not consumer credit |
What Does Close Brothers Offer?
Close Brothers offers three main funding routes. Invoice discounting is confidential: you keep control of credit control and customers may not know a lender is involved. Invoice factoring is disclosed and can include sales-ledger management and collections by Close Brothers. Asset-based lending combines invoice finance with borrowing against assets such as stock, plant or property.
The provider also lists bad-debt protection, Liquidity Plus and the Growth Guarantee Scheme. Sector coverage includes construction, engineering, food and drink, manufacturing, recruitment, retail, services, technology, transport and wholesale. Check the official Close Brothers service page for the latest product and sector list.
Close Brothers explains that invoice finance releases cash tied up in unpaid invoices. Its current product page says eligible businesses can receive up to 90% of invoice value upfront, then receive the balance after the customer pays, less the agreed fee. Discounting keeps collections with your team. Factoring can transfer credit control and collections to the provider. Asset-based lending adds borrowing against stock, machinery or property when the sales ledger alone is not enough.
The same page says funding usually becomes available within a couple of weeks after approval and onboarding, with advances against eligible invoices typically made within 24 hours. These are provider statements, not guarantees. Your result depends on the debtor book, facility terms, records and underwriting. Read the current Close Invoice Finance product guidance before relying on any quoted percentage or timetable.
Close Brothers Invoice Finance Costs
Close Brothers does not publish standard prices. Expect two main charges. The service fee covers delivery of the facility and is charged as a percentage of turnover. The discount fee is the cost of funds drawn against invoices. Our July 2026 check records a typical factoring service-fee range of 0.5% to 2% of turnover.
The same ledger records a discount range of 2.5% to 3.5% over base rate. Your quote may differ because of debtor quality, payment terms, facility size and concentration risk.
Ask for the full annual cost, not just the headline margin. Request the service fee, discount fee, minimum monthly charge, audit or administration fees, bad-debt protection premium and termination terms in writing. Compare that total with at least two alternatives before signing.
Who Is Eligible?
Close Brothers is designed for businesses that invoice other businesses. The standard route is aimed at established companies with at least £500,000 annual turnover. A lender will also examine your debtor book, payment history, customer concentration and management accounts. A single customer making up most of your sales can restrict the amount that is funded.
Most sole traders, start-ups and consumer-facing businesses will not fit the standard route. The Growth Guarantee Scheme may provide another route for eligible businesses, but it is not an automatic approval and the lender still applies its own underwriting. If your turnover is below the standard threshold, compare specialist small-business providers in our business finance hub.
How Fast Is Funding?
Onboarding speed depends on the complexity of your business, the quality of your records and the number of debtors being reviewed. Close Brothers says that funding is often available within a couple of weeks once approved and onboarded. After the facility is live, eligible invoices are typically advanced within 24 hours. This is faster than waiting for customers to pay, but it is not the same as instant approval.
What to Check in the Quote
Ask the account manager to show the full cost over a typical 12-month period. Confirm the service fee, discount fee, minimum monthly charge, audit fee and administration fees. Ask for the price of any bad-debt protection.
Ask whether the facility has a minimum term, an annual minimum fee, concentration limits or notice requirements. Check who owns credit-control decisions and how disputes are handled. Request worked examples using your average invoice value and payment terms. A lower margin can still cost more if the minimum fee or concentration cap is restrictive.
Close Brothers Compared with Alternatives
Close Brothers is not the only route. Bibby Financial Services and Skipton Business Finance are established alternatives. Fintech providers may suit a smaller facility or a faster decision.
The right comparison is not just the headline advance rate. Compare eligibility, total annual fees, debtor concentration rules, credit-control support, contract length and how quickly funds reach your account. Start with our invoice factoring comparison, then request written quotes from providers that accept your turnover and sector.
Close Brothers Group and Trustpilot Reviews
Close Brothers Group is a long-established UK specialist bank listed on the London Stock Exchange. Its public Trustpilot score is about 3.7 out of 5 from more than 7,000 group-wide reviews. Those reviews cover several businesses, including motor finance, so they are not a clean measure of the invoice finance division. Treat the score as a broad brand signal only. Ask for references from businesses with a similar sector, turnover and debtor profile.
Our Verdict
Close Brothers is a credible shortlist option for an established B2B company above the £500,000 turnover guide. Its strengths are a high advance rate, a broad product set and a relationship manager who can support more complex facilities. Its weaknesses are bespoke pricing, a detailed underwriting process and a poor fit for very small or early-stage businesses.
Close Brothers suits established businesses turning over £500,000 or more that value the stability and relationship management of a FTSE 250 merchant bank over the speed of a fintech. Expect bespoke, quote-based pricing and a three-to-six-week setup rather than same-day funding.
See our best invoice factoring companies guide for a wider comparison. You can also read how invoice discounting differs from disclosed factoring before requesting quotes.
