Close Brothers Invoice Finance Review

Market Invoice is an independent UK invoice finance comparison site that ranks Close Brothers against 87 UK invoice finance providers.

Close Brothers Invoice Finance offers factoring and invoice discounting with advance rates up to 90%, each agreement individually priced (it publishes no rate), available to UK businesses with annual turnover from £750,000 (its published minimum for both factoring and discounting). Established in 1878, Close Brothers is one of the UK's oldest merchant banks (FTSE 250) and runs a dedicated invoice finance division alongside specialist construction and recruitment finance teams. Setup is typically 5 working days.

Close Brothers Invoice Finance is one of the UK's most established invoice finance providers, owned by FTSE 250 merchant bank Close Brothers Group plc. Each agreement is individually priced, advance rates reach 90%, and the published minimum turnover is £750,000 for both factoring and invoice discounting. More detail + scope

This page covers

Close Brothers products, rates, eligibility, parent group structure, FCA status, and how Close Brothers compares to alternatives like Bibby, Skipton, Aldermore and Ultimate Finance

Not covered here

General invoice finance education (see /guides/), individual sector pages (see /industries/), full provider directory (see /providers/)

Key Facts

Service chargeNot published (quoted per facility)

Advance rateUp to 90%

Setup speed5 days

Min turnover£750,000

Established1878

Parent groupClose Brothers plc (FTSE 250)

RegulatorFCA / PRA

HQLondon

Products Available

Product	Min Turnover	Advance Rate	Confidential?
Invoice Factoring	£750k	Up to 90%	No
Invoice Discounting	£750k	Up to 90%	Yes
Asset Based Lending	£5m+ (stated target)	Not published	Not published

Close Brothers vs Alternatives

Provider	Fee from	Min turnover	Advance	Setup
Close Brothers	Not published	£750k	90%	5 days
Skipton	Not published	£100k	90%	7 days
Bibby	Not published	Not published	90%	5 days
Aldermore	Not published	£750k	90%	7 days
Ultimate Finance	Not published	Not published	95%	Within 1 week

Pros and Cons

Strengths

FTSE 250 merchant bank, 148 years old
Dedicated relationship managers
Specialist construction and recruitment teams
Flexible contracts (no long lock-in)
Cross-sell with asset finance and motor finance

Limitations

£750k minimum turnover for both factoring and discounting
No published pricing: each agreement is individually priced, so it can only be compared on a quote
Not the fastest setup (5 days vs about 1 working day for single-invoice fintechs such as Hydr)
Limited international export capability vs HSBC or Bibby
Personal guarantee usual on facilities under £500k

Who Is Close Brothers Best For?

Close Brothers is best suited to established UK SMEs with turnover of £750,000 or more (its published minimum) who want a reliable, well-capitalised banking partner. The combination of FTSE 250 capital backing and specialist construction or recruitment teams is hard to match. It prices each agreement individually, so get its quote alongside others.

If you turn over less than £750,000, look at Skipton Business Finance (£100,000 minimum) or Hydr, which has no minimum threshold. Aldermore publishes the same £750,000 minimum and offers a confidential facility too. For a quick whole-ledger setup, Ultimate Finance says it sets up within one week. For multi-currency export, HSBC and Bibby are stronger.

Our Verdict

Close Brothers is our top-rated invoice finance provider for 2026. The combination of 148 years of merchant banking history, FCA + PRA dual regulation, flexible contracts, and specialist sector teams makes them an excellent default choice for UK SMEs. Their main limitations are the £750k minimum turnover and the absence of the absolute-fastest setup speeds; for a business above that threshold, neither outweighs the strength of the core proposition.

Official site: Close Brothers Invoice Finance

Sources

Figures without a link above, including starting service charges, are Market Invoice research estimates: most providers do not publish a rate card and price each facility individually. Checked September 2026.

Adam Parker

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.

Last updated: 25 September 2026

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Close Brothers Invoice Finance FAQ

What is the minimum turnover for Close Brothers invoice finance?

Close Brothers Invoice Finance states a minimum turnover of £750,000 a year for both invoice factoring and invoice discounting (closeinvoice.co.uk, checked 25 Sep 2026). Its asset based lending is aimed at businesses with £5m+ turnover. Below £750,000, look at providers that publish a lower minimum or none.

How quickly does Close Brothers set up invoice finance?

Close Brothers typically completes setup within 5 working days for straightforward applications with clean ledgers and B2B invoices. Complex cases involving multiple debtors, international invoices, or stage-payment construction work may take 7-10 working days. Fast-track is available for emergency funding situations and existing Close Brothers commercial banking customers.

Does Close Brothers offer confidential invoice discounting?

Yes. Close Brothers offers confidential invoice discounting for businesses with annual turnover of £750,000 or more (its published minimum) and an established credit control function. Your customers will not know you use finance, payments are collected into a trust account in your company name, and no Close Brothers branding appears on invoices or statements. Close Brothers prices each facility individually and does not publish a rate card.

Can I use Close Brothers for construction invoice finance?

Yes. Close Brothers has a dedicated construction finance team experienced with stage payments, retentions, applications for payment under the Construction Act 1996, and the contract chains common to main contractors and subcontractors. They are one of the few mainstream lenders willing to advance against applications for payment as well as final invoices, making them a strong fit for construction firms turning over £750k or more (their published minimum).

Who owns Close Brothers Invoice Finance?

Close Brothers Invoice Finance is part of Close Brothers Group plc, a FTSE 250 specialist financial services group founded in 1878 and headquartered in London. The wider group also owns Close Brothers Asset Finance and Winterflood Securities. As a long-established merchant bank, Close Brothers is well-capitalised and regulated by the Financial Conduct Authority and Prudential Regulation Authority.

How does Close Brothers compare to Bibby Financial Services?

Close Brothers and Bibby are both top-tier UK invoice finance providers, but with different strengths. Neither publishes its fees (Close Brothers prices each agreement individually); Close Brothers is bank-owned with deeper capital reserves. Bibby says it funds over 8,500 clients, offers export finance across a wide range of overseas markets, and is more flexible on turnaround and complex situations.

For straightforward UK SME factoring above £750k, Close Brothers is a strong bank-backed option; for complex or international, Bibby is the stronger fit.

Does Close Brothers require a personal guarantee?

Close Brothers typically requires a personal guarantee from directors for facilities under £500,000 or where the business has limited trading history. For larger established businesses, the guarantee may be waived or replaced with a debenture over company assets. Sole traders and partnerships are personally liable by default. Some sector facilities (NHS suppliers, local authority contracts) may waive personal guarantees due to debtor strength.

What are the alternatives to Close Brothers Invoice Finance?

The closest alternatives are Skipton Business Finance (from £100k turnover, building society backed), Aldermore (from £750k turnover, fees quoted per facility, challenger bank with confidential discounting as standard), and Ultimate Finance (fees quoted per facility, setup within one week, advances up to 95%). For businesses under £750k turnover, Skipton (£100k minimum) or Hydr (no minimum) are the nearer fits. International exporters should also consider HSBC and Bibby for multi-currency capability.