Skipton Business Finance vs Ultimate Finance: 2026 Comparison

Skipton Business Finance and Ultimate Finance are both UK based specialist lenders focused on releasing working capital and funding growth, but they do it in slightly different ways. Skipton Business Finance is a wholly owned subsidiary of Skipton Building Society and concentrates on invoice finance and asset based lending for SMEs across the UK, while Ultimate Finance is a specialist asset based lender offering a broader product set that includes invoice finance, asset finance and bridging loans. Both operate under UK company law and regulation, with Skipton Business Finance registered as Skipton Business Finance Limited, company number 04171724, according to Companies House, and Ultimate Finance operating via Ultimate Finance Group Limited and regulated subsidiaries, with the group registered under company number 04350565 based on Ultimate Finance's legals page. This guide compares their products, costs, service and suitability side by side using verifiable public information as of 2026, so you can see where each lender is stronger and where terms and features vary. It is intended as impartial commentary and does not constitute financial advice, and businesses should always check the latest terms directly with each lender before applying.

1. Products and terms at a glance

Skipton Business Finance (SBF) positions itself primarily as an invoice finance and asset based lending provider for UK SMEs, offering invoice factoring, invoice discounting and wider asset based lending facilities according to its business finance overview. It highlights products such as Invoice Factoring, Invoice Discounting and Asset Based Lending on its main site, with additional variations including CHOCs (Client Handles Own Collections) as explained in its invoice finance FAQs.

Ultimate Finance describes itself as a specialist asset based lender that offers multiple funding lines. Its core product menu includes Invoice Finance, Asset Finance and Bridging Loans, as set out on its funding solutions page. Within Invoice Finance it offers facilities up to £7 million and up to 95 percent of invoice value as stated on its invoice finance product page, while its Asset Finance product provides up to £2 million per customer with repayment terms between 12 and 84 months based on its asset finance page. Bridging Loans of up to £4 million with a maximum 75 percent loan to value are detailed on its bridging finance page.

Invoice finance itself is a form of working capital facility where a lender advances cash against unpaid invoices so the business does not have to wait for customers to pay. For a fuller explanation of how this type of facility works in practice, you can review Funding Agent's guide to invoice financing.

Skipton Business Finance, product structure

• Invoice Factoring SBF describes invoice factoring as a solution where it advances cash against unpaid invoices and provides a credit control service, according to its invoice factoring page. The lender takes over the collection of payments from your customers while you receive an agreed percentage of invoice value up front.
• Invoice Discounting SBF explains that invoice discounting is a confidential facility that advances funds against unpaid invoices while you retain responsibility for credit control and collections, as outlined on its invoice discounting page. This can suit businesses that have established finance teams and want customers to continue dealing directly with them.
• Asset Based Lending The firm offers wider asset based lending facilities that can release working capital against a mix of receivables, stock, property, machinery or cash flow loans, as summarised on its business finance overview. Specific limits or security structures are not fully detailed publicly and are likely to vary.
• Support and FAQs SBF provides an education hub and an invoice finance FAQs section describing concepts such as invoice factoring, CHOCs arrangements and eligibility factors, based on its FAQ page.

Public material from SBF does not set out a detailed standard eligibility matrix. Instead, it refers to working with UK SMEs in multiple sectors, and several introducer sites describe it as providing facilities to UK based businesses more generally, for example B2Bfinance's lender profile. Because sector and size criteria may change, specific eligibility should be treated as varies and checked directly with SBF.

Ultimate Finance, product structure

• Invoice Finance Ultimate Finance offers invoice finance lines that can provide funding up to £7 million and up to 95 percent of unpaid invoice value, with funds available within 24 hours of receiving the invoice, as described on its invoice finance page. It positions this as a way to smooth cash flow and support growth.
• Asset Finance Ultimate Finance's asset finance product can provide up to £2 million per customer within 24 hours for a range of hard and soft assets, with repayment terms between 12 and 84 months, based on its asset finance page. This is designed to spread the cost of acquiring vehicles, machinery or equipment.
• Bridging Loans The lender also provides short term property backed bridging finance, stating that it can lend up to £4 million with a maximum 75 percent loan to value and that facilities are designed for property developers and investors, as shown on its bridging loan product page.
• Other working capital options Ultimate Finance flags wider working capital solutions on its funding solutions page. Detailed terms for any additional loan products or variations are not fully itemised and should be considered varies.

Ultimate Finance does not publish a detailed eligibility checklist per product on its public pages. External summaries such as FundInvoice's overview describe it as serving UK businesses via factoring, discounting, business loans and asset finance, but specific criteria such as minimum turnover and trading history can vary and should be confirmed directly.

2. Costs and repayments in practice

Neither SBF nor Ultimate Finance publishes a full schedule of rates and fees for every product, and both stress that pricing depends on facility size, risk profile and structure. For that reason, any numerical examples below are illustrative and labelled as such, and any real figures are limited to those explicitly stated on lender sites where available.

Skipton Business Finance, cost structure

SBF highlights that its Skipton Select invoice factoring solution uses a simple fee structure and is interest free, where you pay a set up fee and a single ongoing fee rather than separate interest and service charges, according to the description on its homepage. Beyond this, it does not publicly list standard discount rates, service fees or additional charges. Guidance on operational aspects, such as all customer receipts being paid into a trust account in the client's name for invoice discounting, appears in its information materials like its guide to invoice discounting, but that document does not contain a generic price list either.

Because there is no detailed tariff available, the overall picture is that SBF uses a negotiated fee structure that varies according to turnover, facility size, sector and risk, which is consistent with how invoice finance is typically priced as explained by industry bodies such as UK Finance's overview of invoice finance and asset based lending. Prospective clients should therefore expect to receive a tailored quote.

Ultimate Finance, cost structure

Ultimate Finance is more explicit about some structural parameters but still does not publish full rate cards. For invoice finance it states that it can fund up to 95 percent of unpaid invoice value with up to £7 million available, and that funds are typically provided within 24 hours of receipt of the invoice, on its invoice finance page. For asset finance, it publishes that up to £2 million per customer can be provided in 24 hours with term lengths of 12 to 84 months, on its asset finance page. For bridging loans, it sets out a maximum loan size of £4 million and 75 percent loan to value on its bridging page. However, specific interest rates, arrangement fees or other charges are not detailed and vary.

External comparison sites such as Capitalise and Expert Market discuss invoice finance costs across multiple lenders, including Ultimate Finance, but because pricing is highly individual and may have changed since publication, detailed rate figures from those sources are not repeated here.

Illustrative comparison of key structural terms

Because of the absence of standard tariffs, businesses should treat all lender marketing as indicative only and request written quotes for like for like comparison.

Worked example 1, illustrative invoice factoring comparison

This example is illustrative only and not based on actual published rates.

• Assume a business has £200,000 of eligible monthly B2B invoices.
• It considers an invoice factoring facility with either SBF or Ultimate Finance.
• Assume both providers agree to advance 85 percent of invoice value, with a combined discount and service fee equivalent to 3 percent per annum of the funds in use, for illustration.

With £200,000 of invoices and an 85 percent advance rate, the business could access up to £170,000 of funding at any point. If the average amount outstanding in a month is £150,000, a 3 percent annualised fee would equate to approximately £4,500 per year, or about £375 per month, in fees, ignoring any additional charges. In reality, each lender may structure its fees differently, and advance rates or service charges may be higher or lower than these assumptions, so actual costs will vary.

Worked example 2, illustrative asset finance vs asset based lending

This example is again illustrative only.

• A business wants to acquire £100,000 of machinery.
• With Ultimate Finance's asset finance, assume a 60 month term with fixed monthly repayments and a notional 8 percent annual interest rate for illustration only, not a quoted rate.
• With SBF, assume it instead uses an asset based lending line secured against receivables and other assets, drawing £100,000 for 12 months at a notional blended annual cost of 6 percent, again illustrative only.

On the illustrative asset finance facility, the monthly repayment on a £100,000 loan at 8 percent over 60 months would be roughly £2,028, with total repaid around £121,680 using standard amortisation assumptions. On the illustrative 12 month asset based lending facility of £100,000 at 6 percent, the total cost would be around £6,000 if the balance remained fully drawn for the year, for a total repayment of £106,000, ignoring any set up or service fees. Actual lender pricing may differ significantly and can vary according to risk and security.

Using calculators and tools

Because neither lender offers a full public repayment calculator that covers every scenario, businesses may find it helpful to run scenarios using a neutral tool such as Funding Agent's asset finance calculator to estimate payments under different interest rate and term assumptions before comparing lender quotes.

3. Speed and service

Application and funding speed

SBF emphasises quick access to funds through its invoice finance products but does not publish standard approval times in days. Its materials such as its guide to invoice finance refer to quick access to funding rather than fixed timelines, so application and onboarding speed should be treated as varies and dependent on case complexity.

Ultimate Finance is more specific regarding drawdown speed for some products. For example it states that, for invoice finance, up to 95 percent of invoice value can be paid within 24 hours of receiving the invoice, on its invoice finance page. For asset finance it similarly notes that up to £2 million per customer can be made available in 24 hours for all types of assets, on its asset finance page. For bridging loans a specific approval timeframe is not provided, so that should be considered varies.

These references address funding after a facility is agreed, not the initial underwriting time, which both lenders treat as case specific. As a result, businesses should confirm expected timescales at the point of enquiry.

Service model and relationship management

SBF highlights that clients receive a dedicated relationship manager, and its complaints procedure notes that complaints should first be raised with this relationship manager before escalation, as shown on its complaints page. Its FAQs also emphasise client support and myth busting around invoice finance, for example explaining how customer interactions are handled, on its invoice finance FAQ page.

Ultimate Finance also provides relationship driven support. Its general messaging states that it offers tailored funding solutions with a relationship led approach, as described on its homepage, and its FAQs note that clients have access to support via phone and online channels, per its FAQ page. It also publishes updates on service delivery and milestones such as passing a £400 million loan book with record quarterly new business performance, according to its April 2026 news release, which indicates continued activity and appetite to lend, although it does not itself speak directly to individual service quality.

Customer feedback

Independent review platforms provide some insight into customer experiences but may not be statistically representative. For example, Trustpilot shows Ultimate Finance with an overall score of 5 stars based on more than 1,000 reviews as of 2026, according to its Trustpilot page. For SBF, some third party broker sites report positive experiences and high client satisfaction, such as the profile on B2Bfinance, but these are not systematic ratings in the same way.

Reviews should be treated as one data point and cross checked with direct discussions with each lender, particularly for larger or more complex facilities.

4. Who each lender suits

Skipton Business Finance, typical suitability

SBF is likely to appeal most to businesses that:

• Prioritise traditional invoice factoring or discounting solutions with the option of full credit control support or confidential facilities, as described on its invoice factoring and invoice discounting pages.
• Value being funded by a lender that is part of a mutual building society group, as SBF is described as part of Skipton Building Society Group in third party profiles such as B2Bfinance's overview and in Skipton Building Society's own annual reports like its 2024 annual report.
• Operate B2B and have a substantial debtor book that can be used for invoice finance, which is the focus in SBF's explanations of invoice finance and asset based lending on its invoice discounting and business finance pages.
• Prefer a straightforward fee structure on certain products, for example the interest free Skipton Select offering described on its homepage, subject to eligibility and agreement of terms.

Because SBF's public material does not spell out minimum and maximum facility sizes, contract lengths or turnover thresholds for every product, those factors should be treated as varies and checked case by case.

Ultimate Finance, typical suitability

Ultimate Finance may be particularly suitable for businesses that:

• Need a combination of working capital and asset finance solutions from the same lender, such as invoice finance and hire purchase, which it presents together on its funding solutions page.
• Require larger disclosed facility sizes, given that it openly markets invoice finance up to £7 million and up to 95 percent of invoice value on its invoice finance page.
• Plan property related projects and want the option of a bridging loan up to £4 million with up to 75 percent loan to value, as detailed on its bridging loan page.
• Prefer a specialist asset based lender whose primary focus is tailoring funding structures around business assets, as emphasised in its positioning as funding partner of choice.

Again, explicit eligibility criteria such as minimum turnover, profitability and sector appetite are not fully listed on public pages and should be considered varies.

5. How to apply

Skipton Business Finance

SBF invites prospective clients to enquire via online forms, telephone or direct contact with regional teams. Its main contact page provides phone numbers and an online enquiry form, as shown on its contact page. It does not publish a step by step application checklist, but invoice finance guides and FAQs explain that typical processes involve providing recent financial accounts, details of the sales ledger and customer creditworthiness, consistent with industry practice described by UK Finance. Exact documentation requirements and onboarding steps may vary by product and sector.

SBF's complaints procedure sets out how clients can escalate issues if they arise during or after onboarding, starting with the relationship manager and then a designated complaints handler, as detailed on its complaints procedure page. This indicates a structured internal escalation path but not the initial underwriting workflow.

Ultimate Finance

Ultimate Finance directs businesses to its online and telephone channels for new enquiries. Its contact page invites prospects to complete a short online form or call the team, as seen on its contact us page. Each product page includes a prominent call to action, for example the invoice finance and asset finance pages both encourage businesses to enquire for a tailored quote using online forms, per its invoice finance page and asset finance page.

Ultimate Finance's legal and privacy pages set out how it processes personal data and under which entities it operates, as set out on its legals page and its privacy policy. They do not include a full procedural breakdown of application stages, and time to decision is therefore best regarded as varies and influenced by deal size and complexity.

6. Final verdict

Both Skipton Business Finance and Ultimate Finance are established UK based providers of invoice finance solutions, and both operate in the broader space of asset based lending. SBF is closely associated with Skipton Building Society and focuses on invoice factoring, invoice discounting and asset based lending for SMEs, with product information available on its invoice factoring, invoice discounting and business finance pages. Ultimate Finance positions itself as a multi product asset based lender, combining invoice finance, asset finance and bridging loans with clearly disclosed maximum facility sizes and advance rates on its funding solutions pages.

In practical terms, the choice between them will often revolve around whether you primarily want invoice finance with a building society backed provider or a mix of invoice, asset and property backed facilities with a specialist asset based lender that publishes higher maximum facilities and advance percentages. Pricing at both varies, and neither provides full rate tables, so businesses should ask each lender for written quotes and compare the total expected cost, service commitments and contract flexibility alongside the headline marketing.

Choose Skipton Business Finance if:

• You mainly need invoice factoring or discounting and are comfortable with a tailored facility structure rather than publicised headline limits
• You value the connection to Skipton Building Society and the stability suggested in its annual reports and group materials
• You prefer the option of a simple, interest free fee structure on certain factoring products such as Skipton Select, subject to eligibility
• Your business is B2B with a significant debtor book and you want the choice between full service factoring and confidential invoice discounting

Choose Ultimate Finance if:

• You want a single lender that can provide invoice finance, asset finance and property backed bridging loans
• You require clearly signposted maximum facility sizes, such as invoice finance up to £7 million and advance rates up to 95 percent of invoice value
• You are planning significant asset purchases or property projects and want lending lines such as up to £2 million of asset finance or up to £4 million of bridging finance on published structures
• You prioritise a specialist asset based lender whose public materials emphasise flexible, relationship led funding and who is actively growing its loan book

7. Sources

• Skipton Business Finance homepage and product summary
• Skipton Business Finance business finance overview
• Skipton Business Finance invoice factoring product page
• Skipton Business Finance invoice discounting product page
• Skipton Business Finance invoice finance FAQs
• Skipton Business Finance guide to invoice discounting
• Skipton Business Finance complaints procedure
• Companies House record for Skipton Business Finance Limited
• Skipton Building Society 2024 annual report and accounts
• Ultimate Finance homepage and positioning
• Ultimate Finance funding solutions overview
• Ultimate Finance invoice finance product page
• Ultimate Finance asset finance product page
• Ultimate Finance bridging loan product page
• Ultimate Finance legals
• Ultimate Finance privacy policy
• Ultimate Finance FAQ page
• Ultimate Finance April 2026 loan book milestone news
• FCA register entry for Ultimate Finance Limited
• Trustpilot reviews for Ultimate Finance
• B2Bfinance profile of Skipton Business Finance
• UK Finance guide to invoice finance and asset based lending
• Funding Agent guide to invoice financing for digital agencies
• Funding Agent asset finance calculator