Bibby financial service Alternatives

This guide lists five UK focused alternatives to Bibby, so buyers can compare speed, eligibility, products, and pricing before applying.

1. Skipton Business Finance

Skipton Business Finance focuses on providing flexible invoice finance options to UK businesses. It offers quick decisions and flexible funding, often suitable for expanding companies. The provider is known for quick processing and collateral-based lending structures.

Loan and pricing details

• Min amount: Unknown
• Max amount: Unknown
• APR min: Unknown
• APR max: Unknown
• Loan durations: 6 to 10 years for some schemes

Funding range note: Unknown

Speed: Decisions in 24 hours for invoice finance

Interest rate notes: Rates vary with a fixed interest rate option available at 2.5% for some products.

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Moderate

Personal guarantee: Personal guarantees may be required.

Homeowner advantage: No specific advantage for homeowners.

Services and sectors

• Products: invoice_finance
• Industries: Retail, Manufacturing, Services

Best for

• Flexible funding
• Quick decisions
• Expanding businesses

Pros

• Flexible solutions
• Quick funding

Cons

• Limited product range

Sources: https://www.skiptonbusinessfinance.co.uk/business-finance

2. Close Brothers

Close Brothers specialises in offering diverse financial services including asset and invoice finance. Its solutions cater to UK SMEs, with quick processing and flexible terms often brokered through an intermediary. The provider supports growth and working capital needs.

Loan and pricing details

• Min amount: Unknown
• Max amount: Unknown
• APR min: Unknown
• APR max: Unknown
• Loan durations: Variable

Funding range note: Unknown

Speed: Offers quick solutions depending on products

Interest rate notes: Varies significantly but involves competitive rates specific to proposals.

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Flexible

Personal guarantee: Often required based on product type.

Homeowner advantage: Homeownership can benefit in lending scenarios.

Services and sectors

• Products: asset_finance, invoice_finance
• Industries: Construction, Healthcare, Manufacturing

Best for

• Diverse financial products
• SMEs

Pros

• Wide range of services
• Custom solutions

Cons

• Complex eligibility

Sources: https://www.closebrothers.com/what-we-do/lending

3. Ultimate Finance

Ultimate Finance specialises in asset-based lending solutions for UK businesses. It offers flexible funding options secured on assets, often for short-term needs, with quick decision times. Their services are brokered to suit various business profiles.

Loan and pricing details

• Min amount: £5,000
• Max amount: £100,000
• APR min: Unknown
• APR max: 36.8%
• Loan durations: 12 months typical for short-term loans

Funding range note: From £5,000 to £100,000 typically

Speed: Decisions in 24 hours for quick asset loans

Interest rate notes: Rates start from 1.5% per month for some products

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Moderate

Personal guarantee: Personal guarantees may apply

Homeowner advantage: Being a homeowner may assist in securing loans

Services and sectors

• Products: term_loan, asset_finance
• Industries: Logistics, Retail, Construction

Best for

• Businesses needing asset-based lending
• Customizable solutions

Pros

• Rapid decision making
• Tailored products

Cons

• High APR for some products

Sources: https://ultimatefinance.co.uk/

4. Lloyds Bank

Lloyds Bank offers a range of business loans suited for established UK companies. It features flexible durations and a competitive APR, often used for working capital or refinancing. The provider offers quick processing times and structured repayment options.

Loan and pricing details

• Min amount: £1,000
• Max amount: £50,000
• APR min: 11.2%
• APR max: 11.2%
• Loan durations: From 1 to 5 years

Funding range note: From £1,000 to £50,000 typically

Speed: Loan processing in a matter of days

Interest rate notes: 11.2% APR representative; may vary based on credit profile

Eligibility

• Min trading months: 12
• Min monthly turnover: £1,000
• Credit flexibility: Restricted to good credit profiles

Personal guarantee: Commonly required for higher loans.

Homeowner advantage: Helps in risk assessment, potentially lower rates

Services and sectors

• Products: business_loans, invoice_finance
• Industries: Healthcare, Real Estate, Retail

Best for

• Established businesses
• Variety of loan terms

Pros

• Established brand
• Variety in loan products

Cons

• Strict credit requirements

Sources: https://www.lloydsbank.com/business/business-loans/small-business-loans.html

5. Novuna Business Finance

Novuna Business Finance offers innovative finance solutions mainly geared towards SMEs in the UK. It provides rapid funding options often secured on short-term assets or revolving credit. Their service supports swift access to capital through flexible products.

Loan and pricing details

• Min amount: £7,500
• Max amount: £25,000
• APR min: 6.3%
• APR max: Unknown
• Loan durations: Variable, often short-term focused

Funding range note: From £7,500 to £25,000 typically

Speed: Funds can be released within 24 hours

Interest rate notes: APR starts from 6.3% for direct applications

Eligibility

• Min trading months: 6
• Min monthly turnover: £1,500
• Credit flexibility: Flexible

Personal guarantee: Typically required based on loan size.

Homeowner advantage: May assist in lower interest negotiations

Services and sectors

• Products: quick_business_loans, asset_finance
• Industries: Technology, Manufacturing, Services

Best for

• SMEs seeking quick funding
• Flexible repayment options

Pros

• Fast approval
• Flexible financing options

Cons

• Higher rates for riskier profiles

Sources: https://www.novuna.co.uk/business-finance/

Final notes

When comparing providers, match loan size, timeline, and sector fit first, then confirm current rates and fees with the finance provider. If one option declines your application, a broker or multi lender panel may still place the deal.

The appropriate choice depends on your specific needs. For example, a bank may offer competitive rates for established businesses with good credit. A broker can help access a wider range of options. Specialist providers like invoice financiers focus on specific funding types and security structures. You can always check funding agents through Funding Agent for support in finding the most suitable provider.