Platform Black, now traded as Sancus Finance Limited, is a UK-based lender established in 2012 offering short-term working capital solutions via an online marketplace. It focuses on selective invoice finance, supply-chain finance, and construction application finance tailored for established SMEs. The lender operates under FCA regulations (FCA FRN 716543) and suits businesses looking for flexible, technology-driven funding alternatives to traditional banks. More details on invoice finance and alternative finance loans can help businesses explore comparable funding options.
Key Features of Platform Black
The lender provides several digital and operational features designed to support UK SMEs in managing cash flow and funding needs effectively.
- Online auction platform ensuring selective invoice financing with real-time bidding and transparent pricing.
- Integrated tools for credit checking and monitoring debtors enhance risk management.
- 24/7 cloud dashboard allows drawdowns and reporting anytime with API links to popular accounting software.
- A specialist construction finance team provides sector expertise for tailored application funding.
- The option to combine invoice and trade finance under one agreement supports holistic working capital management.
Funding Eligibility
You may qualify for Platform Black’s funding if you meet their minimum criteria. For invoice finance, a minimum of six months trading and £250,000 annual turnover is required, with stronger thresholds for trade and construction finance. Businesses typically need solid debtor quality and can expect personal guarantees. Exclusions apply to start-ups and sectors like gambling or B2C receivables. Learn more on loan eligibility requirements and use our invoice finance calculator to assess your suitability.
Loan Options
Platform Black offers three main loan types that reflect different business needs and sectors.
- Selective Invoice Finance: £5,000 to £5,000,000 per invoice, terms of 30 to 120 days aligned with invoice due dates, and discount rates between 0.6% and 1.8% per 30 days (approx 8% to 20% APR). This flexible product does not require a debenture over the business. More about invoice financing.
- Supply Chain / Trade Finance Facility: Revolving facilities from £50,000 to £2,500,000, with terms spanning 30 to 120 days per drawdown and discount rates between 1.0% and 1.5% per 30 days (approx 12%-18% APR). This supports improved supplier relationships and payables cycles. See details on supply chain finance.
- Construction Application Finance (CIS Finance): £25,000 to £1,500,000 per project, terms up to 150 days per application with possible rollovers, and discount rates ranging from 1.1% to 1.9% per 30 days (approx 14%-23% APR). Tailored for CIS-registered construction contractors. Further information available about the Construction Industry Scheme.
How to Apply
The application process is fully online with swift decisions and confirmations, suitable for businesses prepared with required documents.
- Submit an online application form with supporting documents such as bank statements and accounts. Review our application form guidelines.
- Provide proofs including aged debtor and creditor lists, and contracts or purchase orders depending on the product chosen.
- Expect a credit decision within 3-5 working days and same-day drawdown once documents are signed and invoices uploaded.
Funding Agent's Review
Platform Black (Sancus Finance Limited) suits UK SMEs with established trading records seeking flexible and episodic working capital, especially in construction or complex supply chains. While its marketplace funding can lead to flexible draws and competitive pricing, higher costs and director personal guarantees may limit appeal. Use our tools like the invoice finance calculator and read about loan eligibility requirements to assess fit. Compare further options and lenders on our financing options pages to make informed decisions.
