Compare Invoice Factoring Companies Instantly
Compare invoice finance and recruitment funding options from multiple lenders, see indicative funding and pricing instantly, and progress with your chosen lender through one platform.
No obligation. Your customers won’t be contacted as part of the comparison process.
Trusted by leading UK invoice finance lenders
Funding options
Compare invoice finance and recruitment funding options offered by participating lenders.
Factoring
Access funding against unpaid invoices, with the lender managing your credit control and collecting payments from your customers.
Invoice Discounting
Access funding against unpaid invoices, with your business continuing to manage credit control as normal.
Recruitment Pay & Bill
Funding for temporary recruitment businesses, with the provider raising invoices to your clients and paying your temporary workers.
Available products and terms depend on your business, sector, turnover, debtor ledger and lender criteria.
What you can compare
Factor Now lines lenders up on the terms that decide the real cost of a facility, not just the headline advance rate.
Available funding
How much of your ledger could be released
Advance rate
Percentage of eligible invoices available upfront
Service fee
Cost of credit control and facility management
Discount charge
Cost of funds you actually use
Contract term
Minimum commitment and notice period
Concentration limits
How lenders treat large individual customers
Recourse / non-recourse
Who carries approved bad-debt risk
Credit control
How the lender collects from customers
Eligibility
Turnover, sector, ledger and trading-history criteria
Why compare invoice factoring lenders?
Providers can look alike on a headline rate and still differ sharply on what they fund and what they charge. These are the things that separate one facility from another.
Advance rates aren't the whole story
A 90% advance doesn't automatically mean a better facility if more of your ledger is excluded.
Fees are structured differently
Service fees, discount margins, minimum charges, arrangement fees and audit fees can differ considerably.
Lenders have different appetites
Sector, turnover, debtor concentration, export customers, contract debt and historic performance can affect which providers will consider you.
Contract terms matter
Minimum terms, personal guarantees, notice periods and termination charges can materially change the overall deal.
Credit control varies
With factoring, the lender may interact with your customers, so the quality and style of their collections operation matters.
Partner with Factor Now
Accountants, introducers & brokers
Refer your clients to smarter invoice finance and earn commission - with as much or as little involvement as you like. Register your interest and our team will be in touch to get you set up.
More sales shouldn’t mean less cash.
Growth can put unexpected pressure on cashflow. You deliver the work, raise the invoice and then wait 30, 60 or 90 days to get paid.
In the meantime, wages, suppliers and other costs still need to be met.
One enquiry. Multiple lenders. One platform.
Factor Now compares your business and debtor ledger against participating lender criteria, giving you one place to review your options and progress with the lender you choose.
Not a traditional loan.
Invoice finance releases funding against invoices you’ve already raised.
Loan
A loan provides a fixed amount of cash which is repaid over time.
Invoice finance
Funding is linked to your sales ledger and can increase as you raise more invoices.
Used by businesses at every scale
From start-ups and growing SMEs to major established businesses, invoice finance is used by businesses at every stage of growth.
£350m
Equipment hire group
£115m
Drainage & waste management
£27m
Healthcare recruitment
£5m
Commercial vehicle maintenance
£1m
Logistics business
£300k
Specialist recruitment
Facilities available from £25,001
How Factor Now works
Factor Now brings the funding journey into one place. Compare participating lenders, see indicative funding and pricing instantly, then progress your chosen application through to formal offer.
Tell us about your business
Provide some basic information about your business and how you trade. We'll automatically verify available Companies House information.
Upload your aged debtor report
This gives Factor Now a clear picture of your outstanding invoices, customer base and debtor ledger.
See matching lenders instantly
We compare your business and debtor ledger against participating lender criteria and show you suitable matches straight away.
Compare indicative funding and pricing instantly
See what participating lenders could offer, there and then with no waiting for quotes or callbacks.
Progress your application
Choose the lender you want to progress with and continue the application process on Factor Now through to formal offer.
Once your facility is in place, funding against eligible invoices can be released the same day.
Why we ask for your aged debtor report
Because the amount you’re owed is only part of the picture.
Your aged debtor report gives us a clear view of the invoices currently owed to your business. It helps us understand:
- who your customers are
- how much each customer owes you
- how long invoices have been outstanding
- how concentrated your ledger is
- how much of your ledger could be fundable
We use this information to identify participating lenders whose criteria match your business and to calculate indicative funding and pricing.
What’s an aged debtor report?
A list of unpaid invoices owed to your business, showing who owes you, how much and how long those amounts have been outstanding.
| Contact | Current | 1–30 | 31–60 | 61–90 | 91+ | Total |
|---|---|---|---|---|---|---|
| Northgate Engineering Ltd | £26,064 | £44,460 | £22,097 | £6,093 | £1,693 | £100,407 |
| Brightway Supplies Ltd | £20,800 | £32,636 | £17,329 | £5,643 | £1,171 | £77,579 |
| Meadowbrook Foods Ltd | £31,129 | £48,107 | £24,643 | £9,771 | £3,729 | £117,379 |
| Delta Print & Pack Ltd | £18,114 | £28,800 | £15,893 | £5,400 | £1,786 | £69,993 |
| Harbour Textiles Ltd | £15,479 | £24,264 | £13,214 | £4,493 | £1,386 | £58,836 |
| Total | £111,586 | £178,267 | £93,176 | £31,400 | £9,765 | £424,194 |
You stay in control
Your information is protected
Your information is stored and used to assess and progress your funding enquiry.
You're not committing to a lender
Comparing your options doesn't commit you to proceed. You stay in control of whether to proceed and which lender you choose.
Formal underwriting comes later
Once you choose a lender, they will normally request additional information and carry out their standard KYC, credit and underwriting checks.
Frequently asked questions
How do I compare invoice factoring companies?
Factor Now lets you compare invoice factoring from a panel of participating UK lenders instantly, in one place. Tell us about your business and upload your aged debtor report, and we compare your business and ledger against participating lenders' criteria straight away.
We then match your business with lenders whose credit appetite and service offering fit the needs of your business and show you their indicative funding and pricing instantly. You then decide whether you want to progress with any of them and if you do, the journey is completed on the platform.
How quickly will I see rates?
Instantly. As soon as your business details and aged debtor report have been checked against our participating lenders' criteria, indicative funding and pricing appear on screen for each lender that could be a fit.
You don't need to wait for a call back or for quotes to arrive by email. The rates are indicative: the lender will confirm the indicative offer after completing its own credit and underwriting checks.
What is the minimum facility size?
Factor Now is for business invoice finance facilities of £25,001 or more.
If you need a smaller facility, our participating lenders are unlikely to be a fit, and a lender or broker that specialises in smaller facilities may suit you better.
What types of invoice finance can I compare?
You can compare four types of facility on Factor Now:
- Invoice factoring: the lender advances money against your invoices and manages collections from your customers.
- CHOCCS (Client Handles Own Credit Control): invoice factoring but where you handle your own credit control.
- Invoice discounting (disclosed and confidential): the lender advances money against your invoices while you keep running your own credit control. This can be confidential, so your customers don't know a lender is involved.
- Recruitment pay and bill: built for recruitment agencies, combining funding against your client invoices with payroll and billing support for your temporary workers.
If you're not sure which suits you, compare all of them. The lenders that could be a fit will show which facilities they offer.
Which factoring fees should I compare?
Don't compare factoring providers on one headline rate alone. Look at the overall cost and terms of the facility, including:
- the service or administration fee
- the discount charge or interest rate on funds used
- any minimum monthly or annual fees
- arrangement or set-up fees
- audit, renewal or account fees
- bad debt protection costs for non-recourse facilities
- notice periods and early termination charges
You should also compare the advance rate and how much of your debtor ledger the lender considers eligible. A lower-priced facility is not necessarily better if it makes substantially less funding available.
As a guide, across the lender offers put forward to Factor Now clients for £100,000 facilities, the average service fee was 1.08% and the average discount charge was 6.65%. Your own pricing will depend on your business and debtor ledger.
Does comparing invoice factoring affect my credit score?
The Factor Now comparison is not a credit application. We use information from Companies House and a credit reference agency, together with your aged debtor report, to identify participating lenders that could be a fit.
If you choose to progress with a lender, that lender will carry out its own KYC, credit and underwriting checks. Whether those leave a credit-search footprint depends on the lender, so ask them as part of the application process.
How many lenders does Factor Now compare?
Factor Now compares your business against a panel of participating UK invoice finance lenders.
The lenders available can vary according to factors such as your turnover, sector, funding requirement, trading history and debtor ledger. Our panel may also change over time, so we do not describe Factor Now as comparing every invoice finance provider in the UK.
We show you the participating lenders whose criteria could fit your business.
Will lenders contact me when I compare?
No, and your customers won't be contacted either.
You can see potential matches, with indicative funding and pricing, without waiting for calls or quotes from multiple lenders. If you do decide to progress with a lender, they will enter into communication with you through the platform to start your onboarding journey, which will include KYC and underwriting checks.
Is Factor Now a lender?
No. Factor Now is a technology platform, not a lender.
We compare your business and debtor ledger against participating lenders, show potential matches and indicative funding and pricing, and let you progress with the lender you choose. The lender makes the final underwriting decision and provides the finance.
Does Factor Now charge me to compare invoice factoring?
No. There is no charge to your business for using Factor Now to compare invoice finance options, and there is no obligation to proceed.
Factor Now may receive commission from a participating lender if you enter into a facility with them.
The fees associated with the invoice factoring facility itself are set by the lender and should be reviewed before you accept an offer.
What information do I need to compare invoice factoring?
We initially need some basic information about your business together with an up-to-date aged debtor report.
An aged debtor report shows who owes your business money, how much each customer owes and how long the invoices have been outstanding. This allows Factor Now to assess factors such as the size, age and concentration of your debtor ledger against participating lenders' criteria.
Aged debtor reports can normally be exported from accounting software such as Xero, QuickBooks, Sage and FreeAgent.
If you decide to progress, your chosen lender will normally request further information as part of its KYC, credit and underwriting process.
Can I compare invoice factoring if I already have a provider?
Yes. You can compare potential alternatives even if you already use invoice factoring or another invoice finance facility.
When considering a switch, check your existing agreement for its minimum term, notice period, termination costs and any other conditions relating to leaving the facility. Your outstanding balance with your current provider will also normally need to be settled as part of the transfer to a new lender.
Comparing alternatives does not commit you to switching.
How quickly can I switch invoice factoring providers?
There is no single switching time because it depends on your existing agreement and the new lender's underwriting process.
Factors that can affect the timing include your current provider's notice period, any minimum contract term, the condition of your debtor ledger, completion of KYC and underwriting, and arranging repayment of your existing facility.
You can use Factor Now to compare potential alternatives before committing to a switch. Once a new facility has been approved and the transfer completed, funding against eligible invoices can often be made available the same day.
