Aldermore Invoice Finance Review
Aldermore offers invoice factoring and discounting from 0.7% service charge with advance rates up to 90%, for UK businesses with annual turnover from £250,000. As a challenger bank now owned by FirstRand (South Africa's largest financial services group), Aldermore combines competitive pricing with the security of strong banking backing.
Key Facts
Pros and Cons
Strengths
- Competitive rates for mid-market businesses
- Confidential discounting as standard
- Strong banking backing (FirstRand group)
- Good online portal and reporting
- Cross-sell with asset finance and commercial mortgages
Limitations
- Higher minimum turnover (£250k) excludes smaller businesses
- No selective/spot factoring option
- Less flexible on contract terms than independents
Who Is Aldermore Best For?
Aldermore is best for established SMEs with turnover above £250,000 who want confidential invoice discounting from a well-capitalised bank. They are particularly strong if you also need asset finance or commercial property lending, as they can offer combined facilities.
If your turnover is below £250,000, look at Close Brothers (from £50k), Ultimate Finance (from £50k), or IGF (from £50k).
Our Verdict
Aldermore is a solid choice for mid-market businesses wanting the reassurance of a bank-backed facility with confidential terms. Their main limitation is the £250,000 minimum, which rules out smaller businesses. For those who qualify, rates and service are competitive.