Shire Invoice Finance Review
Shire Invoice Finance, which also trades as FundYourInvoice, is an independent invoice finance provider with facilities from £50,000. They offer factoring and invoice discounting to UK SMEs, providing a straightforward and personal service. Fund Your Invoice is operated by Shire Invoice Finance Limited (Fund Your Invoice privacy notice), part of the Shire Business Group.
What this page covers
This page covers
Shire Invoice Finance products, trading names, minimum facility, advance rate and pricing
Not covered here
General invoice finance education (see /guides/), sector pages (see /industries/), the full provider directory (see /providers/)
Key Facts
When Shire Invoice Finance Fits
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Manufacturing or distribution businesses with £200k-£3m turnover needing working capital
Shire's £50k entry point suits smaller manufacturers with lumpy order books. Their factoring service includes credit control, useful for engineering firms juggling multiple trade buyers.
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Recruitment agencies wanting confidential funding without client-facing involvement
Invoice discounting lets agencies keep full control of debtor management while drawing an agreed percentage of invoice value. The FundYourInvoice brand offers discretion for professional services firms.
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Growing service businesses outgrowing their accountant's overdraft referral
Independent brokers often recommend Shire for clients needing £50k-£150k facilities where high street banks decline or impose personal guarantees. Decision-making is faster than challenger bank processes.
When to Look Elsewhere
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Construction subcontractors with payment terms over 90 days
Better fit: an alternative provider. Consider Optimum Finance who specialise in longer-dated construction invoices and understand retention clauses better than general independents.
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Exporters invoicing overseas buyers in USD or EUR
Better fit: an alternative provider. Look at Bibby Financial Services or Close Brothers who operate multi-currency facilities and have credit insurance partnerships for overseas debtor risk.
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Micro-businesses needing under £30k or invoice-by-invoice funding
Better fit: Hydr. Hydr offers single invoice finance with no minimum facility, better suited to occasional cash flow gaps than Shire's £50k commitment.
How Shire Invoice Finance Compares
| Provider | Type | Min facility | Fee from | Advance to | Speed |
|---|---|---|---|---|---|
| Ultimate Finance | both | Not published | Not published | 95% | Up to 5 days |
| Skipton Business Finance | both | £100k | Not published | 90% | 5 days |
| Time Finance | factoring | £250k | Not published | 90% | 7 days |
| IGF Invoice Finance | both | £5m+ turnover | Not published | 90% | 10 days |
vs Ultimate Finance: Ultimate publishes no minimum, advances up to 95% and offers facilities up to £10m, so it can grow further with you; Shire works at the smaller end, from £50k.
vs Skipton Business Finance: Backed by Skipton Building Society with stronger balance sheet, but Shire often quotes faster and offers more flexible credit limits for newer businesses.
vs Time Finance: Time Finance requires higher turnover (£250k+) and focuses on larger factoring clients, whereas Shire takes a more hands-on approach with smaller portfolios.
vs IGF Invoice Finance: IGF works with businesses turning over £5m or more and can fund stock and plant alongside receivables; Shire works at the smaller end, and the wider Shire Business Group offers asset finance and leasing through separate companies.
Illustrative worked example
Hypothetical: A Midlands-based IT support company with £650k turnover
Not a real client. The charges are illustrative assumptions, not Shire's published rates; Shire quotes each facility individually. Monthly cost = £405 service charge (0.75% of £54,000) plus about £277 discount charge (7.25% a year on £45,900 drawn for a month, at the 3.75% Bank of England base rate).
Setting Up With Shire Invoice Finance
- 1
Initial credit assessment
Shire reviews your last 12 months of sales ledger and checks your top five debtors with credit agencies. They require management accounts and a debtor aging report. Most decisions within 48 hours for straightforward cases.
- 2
Facility agreement and debtor notification
For factoring, Shire notifies your customers that invoices are now assigned and payments should go to their trust account. For discounting, this step is skipped and clients continue paying you directly. Legal documentation typically one week.
- 3
First drawdown and ongoing funding
Upload approved invoices via their online portal or email. Shire advances the agreed percentage within 24 hours to your bank account. They collect the balance (minus fees) once your customer pays, usually within 30-60 days depending on terms.
FAQs
What's the difference between Shire and FundYourInvoice?
They're the same company with the same team and underwriting. Fund Your Invoice is operated by Shire Invoice Finance Limited (company 07455852), so your facility agreement is with that company whichever name you applied through. Shire Invoice Finance is part of the Shire Business Group, which began in 1990 as Shire Leasing PLC and now runs a separate company for each type of finance (Shire: about us).
Can I switch from factoring to discounting later?
Yes, if your credit control improves and you want to manage collections yourself. Expect Shire to want a track record of customer payments and evidence your team can handle debtor management. The switch involves notifying customers that payments revert to you. Ask whether a conversion fee applies before you agree the facility.
Do they fund start-ups or businesses under 12 months old?
Rarely. Shire's £50k minimum usually requires at least £200k annual turnover and six months of trading history with established customers. If you're earlier stage, Hydr or Sonovate may consider businesses from month one if directors have sector track records. Shire focuses on profitable SMEs with proven debtor books rather than pre-revenue or turnaround cases.
What happens if my customer disputes an invoice or doesn't pay?
For factoring, Shire's credit control team chases payment and you remain liable if the debt becomes bad after 90 days. For discounting, you manage collections so you're immediately responsible for any shortfall. Both products require you to buy back invoices that remain unpaid beyond the agreed credit period, typically by refunding the advance plus fees. Credit insurance can be added to mitigate this risk, at an extra cost.
Our Verdict
Shire Invoice Finance is a solid independent provider at the £50k level. The FundYourInvoice trading name is the same operation, so do not be confused by seeing both brands. A practical choice for SMEs wanting personal service and competitive independent terms.
Official site: Shire Invoice Finance
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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