Close Brothers Invoice Finance Review
Close Brothers Invoice Finance offers factoring and invoice discounting from 0.5% service charge with advance rates up to 90%, available to UK businesses with annual turnover from £50,000. Established in 1878, Close Brothers is one of the UK's oldest and most established merchant banks with a dedicated invoice finance division.
Key Facts
Products Available
| Product | Min Turnover | Advance Rate | Confidential? |
|---|---|---|---|
| Invoice Factoring | £50k | Up to 90% | No |
| Invoice Discounting | £500k | Up to 90% | Yes |
| Confidential Discounting | £500k | Up to 85% | Yes |
| Construction Finance | £100k | Up to 85% | No |
Pros and Cons
Strengths
- Low starting service charge (0.5%)
- Established, well-capitalised bank
- Dedicated relationship managers
- Specialist construction and recruitment teams
- Flexible contracts (no long lock-in)
Limitations
- Confidential discounting requires £500k+ turnover
- Not the cheapest for very small facilities
- Setup can take longer for complex cases
Who Is Close Brothers Best For?
Close Brothers is best suited to established SMEs with turnover between £250,000 and £10 million who want a reliable, well-capitalised banking partner. Their specialist construction and recruitment teams make them a strong choice for those sectors specifically.
If you are a smaller business (under £250k turnover) looking for the lowest possible cost, specialist independents like Ultimate Finance or IGF may offer more competitive rates.
Our Verdict
Close Brothers is our top-rated invoice finance provider for 2026. The combination of competitive rates, long-established banking credentials, flexible contracts, and specialist sector expertise makes them an excellent choice for most UK businesses. Their main limitation is the higher turnover threshold for confidential discounting.