Kriya vs Skipton Business Finance: Which Lender Is Better for UK Business Finance?

Kriya, trading in the UK as Kriya Finance and operated by Kriya Finance Limited, offers digital working capital and B2B payments solutions to UK businesses, including buy now pay later for B2B transactions and invoice finance, based on the Kriya homepage and terms of business. Skipton Business Finance, a wholly owned subsidiary of Skipton Building Society and trading as Skipton Business Finance Limited, focuses on invoice finance and asset based lending facilities for SMEs, according to the Skipton Business Finance website and legal information. Both providers operate in the UK commercial finance market but differ in ownership, with Kriya backed by institutional and corporate investors and Skipton Business Finance owned by a UK building society, based on Kriya’s about page and Skipton’s about page. Kriya positions itself as a fintech platform that embeds finance into B2B checkouts and trade flows, while Skipton Business Finance positions itself as a relationship led invoice finance and asset based lender focused on UK SMEs, according to Kriya’s solutions pages and Skipton’s product pages. Product structures, eligibility and pricing vary for both lenders and are subject to change so businesses should always confirm the latest information directly with each provider.

1. Products and terms at a glance

Both Kriya and Skipton Business Finance provide business to business funding but they do so through different product sets and delivery models.

Kriya focuses on three core propositions for UK businesses based on its solutions overview and business borrowing pages:

• Embedded B2B buy now pay later (BNPL) for suppliers that want to offer payment terms to business customers at checkout; Kriya pays the supplier and collects from the buyer on agreed terms.
• Invoice finance and revolving working capital facilities where selected or whole ledgers of invoices are purchased or advanced against, as outlined on Kriya’s invoice finance page.
• Trade and supply chain finance structures that support domestic and cross border trade, described on its trade finance information.

Facility sizes, maximum tenors and security requirements for Kriya are not fully standardised publicly and vary by product, sector and credit profile, according to Kriya’s terms of business and FAQ content. Where details are not stated, they should be treated as varies rather than assumed.

Skipton Business Finance concentrates on traditional receivables backed funding, based on its invoice finance product pages and asset based lending information:

• Invoice factoring, where Skipton provides an advance against invoices and usually offers a credit control service, as described in its invoice factoring section.
• Invoice discounting, where the business retains credit control and customer contact, according to Skipton’s invoice discounting page.
• Asset based lending that can combine invoice finance with other assets, discussed on its asset based lending overview.

Skipton typically targets UK limited companies and LLPs with minimum turnover thresholds that vary by product, based on the eligibility guidance. Contract terms, notice periods and concentration limits are product specific and can change so are best confirmed in the latest facility offer or terms.

Neither lender is a typical provider of a generic unsecured business loan. Instead, both primarily advance against receivables or trade flows rather than issuing fully unsecured term loans.

2. Costs and repayments in practice

Both Kriya and Skipton Business Finance price facilities using multiple components. Exact fees and rates are not fully published and will vary by business, sector and risk profile so any figures below are illustrative only and should be treated as varies.

Kriya pricing structure is typically built around:

• A discount fee or service fee on financed invoices or BNPL transactions, as suggested by references to discount charges in Kriya’s terms of business.
• Possible arrangement or platform fees for setting up facilities and integrating checkouts, indicated in platform terms and conditions.
• Additional charges in certain situations such as late payment or default, outlined at a high level in its contractual documents.

Repayments are generally structured as a percentage of invoice values or as scheduled payments from buyers, rather than fixed monthly repayments in the style of a traditional term loan. This means cash flow impact for the supplier often tracks sales volumes.

Skipton Business Finance pricing for invoice finance normally includes one or more of the following, based on invoice finance FAQs and process explanations:

• A service fee, usually a percentage of turnover or funds in use that pays for administration and credit control.
• A discount charge, generally linked to an underlying reference rate plus a margin, applied to the amount advanced and the time outstanding.
• Potential additional fees, such as arrangement fees, audit fees or disbursements, which are set out in facility offers and may vary.

Repayments under Skipton facilities occur automatically as customers pay their invoices into a controlled account. As debtors pay down, the financed balance reduces and fees are calculated on the daily utilisation of the facility.

Illustrative comparison table

The following comparison is illustrative and based on typical market structures for invoice finance and B2B BNPL, rather than published rate cards. Actual fees for both lenders vary.

Worked example 1: invoice finance facility

This example is illustrative only. It is not based on published rate cards for either lender and real pricing varies.

Assume a business has £200,000 of trade invoices per month that are eligible for invoice finance.

• Advance rate: 85 percent of invoice value (illustrative).
• Average time to payment: 45 days.
• Service fee: 1.5 percent of annual turnover funded (illustrative, varies).
• Discount charge: reference rate plus margin equivalent to an annualised 8 percent on funds in use (illustrative, varies).

Funding available: 85 percent of £200,000 equals £170,000 as a maximum initial advance in the period, for either Kriya or Skipton if a comparable invoice finance structure were agreed.

Illustrative monthly cost:

• Average funds in use over the month: assume £140,000.
• Discount cost: £140,000 × 8 percent × (45 ÷ 365) ≈ £1,384.
• Service fee: if 1.5 percent per annum on £2.4 million annual turnover funded (12 × £200,000) that equates to £36,000 per year or £3,000 per month.

Total indicative monthly cost: about £4,384 in this simplified scenario, before any other fees. In practice, Kriya and Skipton may structure and price differently, so these figures are for conceptual comparison only.

Worked example 2: B2B BNPL versus traditional invoice factoring

This example is also illustrative and not based on actual published pricing, which varies.

Consider a supplier that sells £50,000 per month to business customers.

• With Kriya’s B2B BNPL, the supplier is paid upfront and Kriya collects from the buyers on 60 day terms.
• With Skipton’s factoring, the supplier receives an advance of 85 percent on invoices and the factor manages collections.

Illustrative assumptions:

• Kriya BNPL discount: 3 percent of transaction value (illustrative only, varies).
• Skipton factoring cost: service fee of 2 percent of turnover plus a discount cost broadly comparable to an 8 percent annual rate on funds in use (illustrative only, varies).

Kriya BNPL:

• Monthly transaction volume: £50,000.
• Fee at 3 percent: £1,500.
• Supplier receives £48,500 upfront; no further collections effort.

Skipton factoring:

• Advance: 85 percent of £50,000 equals £42,500 soon after invoicing.
• Service fee at 2 percent on £600,000 annual turnover (12 × £50,000) equals £12,000 per year or £1,000 per month.
• Assume average funds in use of £40,000 and 60 day payment terms, discount cost: £40,000 × 8 percent × (60 ÷ 365) ≈ £527 per month.

Indicative monthly cost for factoring: about £1,527. However, factoring provides an ongoing credit control service and slightly lower upfront funding compared with the assumed BNPL structure. In reality, both Kriya and Skipton would price these scenarios on a case by case basis.

For businesses wanting to stress test how different fee combinations affect cash flow, a generic business loan calculator or spreadsheet based repayment calculator can help model total cost under different tenors and utilisation levels, although there is no dedicated tool on either lender’s site.

3. Speed and service

Digital experience and speed differ between the two lenders.

Kriya positions itself as a fintech platform that integrates directly into B2B checkouts and accounting workflows, using APIs and automated decisioning where possible, according to its marketplace solutions page and partner documentation. This suggests that, once integrated, onboarding new buyers or processing transactions can be relatively fast, although specific approval times are not quoted and therefore vary.

Skipton Business Finance emphasises relationship banking style service with regional teams and in person support, as set out on its about us page and contact pages. Facility setup usually involves underwriting, due diligence and documentation of debentures and receivables assignments, so timescales from enquiry to drawdown are likely to vary by case rather than being same day.

Ongoing account management also contrasts:

• Kriya highlights dashboards and online portals for managing BNPL, invoices and drawdowns, based on its platform description.
• Skipton Business Finance stresses named relationship managers and on site visits where appropriate, according to its team profiles.

Neither lender provides published service level guarantees for response times or payments beyond general marketing statements, so speed should be assumed to vary.

4. Who each lender suits

The right choice depends on how a business sells, how its customers pay and what kind of relationship it wants with a funder.

Kriya may suit:

• Suppliers wanting to embed finance into B2B checkouts or order flows, for example SaaS or marketplace platforms, as promoted on Kriya’s supplier pages.
• Businesses that sell on terms and want flexible invoice finance linked tightly to their sales systems, where funding scales with invoice volumes.
• Firms comfortable with a predominantly digital relationship and using online dashboards rather than face to face account managers.

Skipton Business Finance may suit:

• UK SMEs with established ledgers seeking straightforward invoice factoring or discounting backed by a building society group, which is emphasised on its parent information.
• Businesses that value traditional credit control services and regular contact with a named relationship manager.
• Companies with complex funding needs that could benefit from asset based lending, combining receivables with other assets.

Both lenders are regulated or overseen at group level for certain activities but business lending itself is often unregulated, as noted in their legal and regulatory disclosures. Eligibility can depend on sector, trading history, debtor quality and jurisdiction of customers so outcomes vary.

5. How to apply

Applying with Kriya usually starts online:

• The process typically begins with an enquiry form or partner sign up via its contact form or relevant product pages.
• Kriya may request information such as company details, turnover, recent financials and debtor information, indicated by references to due diligence in its terms of business.
• For embedded B2B BNPL, there is also a technical integration step using APIs or plug ins as described on its platform page.

Exact onboarding steps, documentation lists and approval times are not fully published and vary. Kriya indicates that it uses technology and data connections to streamline underwriting but does not give guaranteed decision times.

Applying with Skipton Business Finance is more relationship oriented:

• Prospective clients typically complete an enquiry via Skipton’s quote form or speak with a regional manager.
• Skipton then assesses suitability and requests information such as financial accounts, aged debtor listings and details of any existing facilities, based on its FAQs.
• Where both parties wish to proceed, Skipton conducts due diligence, issues a facility offer and then completes security documentation before first drawdown.

The timeline from initial enquiry to funding depends on factors such as the complexity of the ledger, the need for legal documentation and any existing charges, and is therefore best treated as varies.

6. Final verdict

Both Kriya and Skipton Business Finance focus on receivables backed funding but serve different use cases. Kriya leans towards digital, embedded finance and trade flows while Skipton Business Finance leans towards traditional invoice finance delivered with a relationship led service model.

Choose Kriya if:

• You want to offer B2B buy now pay later or flexible payment terms directly within your checkout or order journey.
• Your main need is to accelerate cash flow from invoices or trade transactions rather than to borrow a fixed sum on a standard term loan.
• You prefer a data driven, online platform experience over in person relationship management.
• Your customer base and systems are suited to API or platform integrations and you are comfortable with variable utilisation and fees that move with transaction volumes.

Choose Skipton Business Finance if:

• You are a UK SME looking for conventional invoice factoring or discounting from a lender owned by a UK building society group.
• You value having a named relationship manager and potentially on site support for setting up and running your facility.
• Your priority is a straightforward invoice finance or asset based lending line rather than embedded checkout finance.
• You are comfortable with facilities where pricing is driven by service fees and discount charges calculated on funds in use.

7. Sources

• Kriya official site
• Kriya terms of business
• Kriya business borrowing overview
• Kriya invoice finance product page
• Kriya trade finance information
• Kriya platform description
• Kriya about page
• Skipton Business Finance official site
• Skipton Business Finance invoice finance overview
• Skipton invoice factoring page
• Skipton invoice discounting page
• Skipton asset based lending page
• Skipton Business Finance about us
• Skipton invoice finance FAQs
• Skipton quote and enquiry form