Alternatives to Time Finance
The main UK invoice finance alternatives to Time Finance are Aldermore Invoice Finance, IGF (Independent Growth Finance), Novuna Business Finance and Ultimate Finance, compared below on product type, minimum turnover, advance rate, typical fee, setup speed and our overall rating.
Pick the alternative that fixes whatever Time Finance does not do for you: a lower entry point, faster setup, a higher advance or a different product type. More detail + scope
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UK invoice finance alternatives to Time Finance, compared on product type, minimum turnover, advance rate, typical rate, setup speed and rating
Not covered here
In-depth single-provider reviews (see /providers/), head-to-head comparisons (see /vs/), general invoice finance education (see /guides/)
Time Finance vs the 4 alternatives
| Compared on | Time Finance | Aldermore Invoice Finance | IGF (Independent Growth Finance) | Novuna Business Finance | Ultimate Finance |
|---|---|---|---|---|---|
| Product | Invoice finance, asset finance, vehicle finance | Invoice finance (Receivables Finance, factoring, CID) | Invoice finance (ABL, CID), asset-based lending | Invoice finance, asset finance, vehicle finance | Invoice finance (factoring, CID), bridging, asset finance |
| Cluster | independent | independent | independent | independent | independent |
| Min turnover | £250k | £750k | £5m | Not published | Not published |
| Advance rate | Up to 90% | Up to 90% | Up to 90% receivables + stock + plant | Up to 90% | Up to 95% |
| Typical rate | Not published (quoted per facility) | Not published (quoted per facility) | Bespoke pricing | Not published (quoted per facility) | Quoted per facility (not published) |
| Setup speed | 7 working days | A few days to a few weeks | 10 working days | 1 to 3 working days to funds | Within one week (up to 5 working days) |
| Rating | 4.1 | 4.2 | 4.1 | 4.2 | 4.3 |
Aldermore Invoice Finance
A few days to a few weeks · Up to 90%Challenger bank (Aldermore Bank plc) offering invoice discounting, factoring and asset-based lending, with advances up to 90% and a £750,000 minimum turnover. Accredited for the Growth Guarantee Scheme.
IGF (Independent Growth Finance)
10 working days · Up to 90% receivables + stock + plantABL specialist combining invoice finance with stock and plant lending under one facility.
Novuna Business Finance
1 to 3 working days to funds · Up to 90%Novuna is the trading style of Mitsubishi HC Capital UK PLC, formerly Hitachi Capital (UK) PLC, which switched to the Novuna brand on 14 February 2022 after its parent merged with Mitsubishi UFJ Lease & Finance to form Mitsubishi HC Capital Inc.
Ultimate Finance
Within one week (up to 5 working days) · Up to 95%Facility set up within one week, with funds paid within 24 hours of receiving invoices once live, according to Ultimate Finance. Owned by Tavistock Group.
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Founder & Managing Director, Muswell Rose, founder and PSC of Best Business Loans Ltd
Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind Market Invoice. He spent over three years as managing director of Penny, a UK invoice finance business, and his career runs through insurance, mortgages, commercial finance and fintech lending. He writes the Market Invoice library.
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