It removes the usual wait of up to 90 days from issuing an invoice to receiving payment, so you can access the cash owed to you more quickly.
If your business doesn’t have a large finance department, Factoring could also give you access to sales ledger management support, freeing up your time to run your business.
As one of the largest banks in the UK, your business will benefit from our specialist approach, commitment to long-term relationships, expertise and access to dedicated sector knowledge.
You can try our Factoring service for six months and, if you're not completely satisfied, we'll refund the service fee*. If you think that Factoring is not right for you during the six months following the commencement of your agreement you may terminate your agreement without a termination fee by giving 28 days notice*. After the initial six month period has passed our normal contractual termination conditions will apply. For more information read our Client Charter.
To further support our values in being transparent with clients we have made our other Fees and Charges (PDF)PDF. Opens in a new window brochure available for you to download and keep. These fees and charges do not apply to clients who typically have an annual turnover greater than £25m. If you are an existing client and are unsure whether these other Fees and Charges are applicable to you please check with your Client Manager.
Call 0800 169 4356 to learn more about Factoring and our other business funding options.
*Terms and conditions apply
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.
Factoring and Invoice Discounting facilities may be provided by either Lloyds Bank Commercial Finance, Lloyds Bank plc or Bank of Scotland plc.
Lloyds Bank Commercial Finance Limited, Registered in England & Wales no. 733011. Registered Office: No1 Brookhill Way, Banbury, Oxfordshire, OX16 3EL.
Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Bank of Scotland plc: Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland No.SC327000. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration no. 169628.
When using Asset Finance your agreement will be with a Lloyds Banking Group company whose terms and conditions will apply. The provision of credit or leasing services by us is subject to your meeting our Credit approval. Please ensure that you only apply for credit or leasing services that you can comfortably afford.