Ultimate Finance vs Close Brothers Invoice Finance Comparison

Ultimate Finance, a UK specialist asset based lender, offers a range of working capital solutions including invoice finance, asset finance and structured facilities for SMEs based on its official site and its dedicated invoice finance product page. Close Brothers Invoice Finance, part of Close Brothers Group plc, provides invoice finance and asset based lending facilities to UK businesses according to its invoice finance page and wider group information on Close Brothers lending. Both lenders focus on releasing cash tied up in unpaid invoices, although Ultimate Finance presents itself as a broad working capital partner while Close Brothers positions its invoice finance as part of a larger banking group based on Ultimate Finance corporate information and the Close Brothers Invoice Finance about page. This guide compares their products, costs, service and application processes using information from official product, FAQ, legal and complaints pages plus recent independent reviews found via external sources.

1. Products and terms at a glance

Ultimate Finance describes itself as a specialist asset based lender providing working capital facilities including invoice finance, asset finance, bridging finance and structured finance based on its main site and the navigation across funding solutions. For working capital specifically, it offers invoice finance, trade finance and structured facilities according to its invoice finance page and a separate trade finance factsheet in PDF referenced from that section. Close Brothers Invoice Finance states that it provides invoice finance and asset based lending to SMEs and larger businesses in the UK, forming part of Close Brothers Group plc, a specialist banking group listed in London, according to its product page and Close Brothers group lending information. ### Core product types Both lenders primarily compete around invoice finance facilities, which allow businesses to raise funding against unpaid invoices and improve cash flow using the debtor book as security, consistent with explanations from the British Business Bank on what invoice finance is. At a high level:

• Ultimate Finance advertises invoice finance with funding against unpaid invoices and highlights options for factoring as well as invoice discounting, referencing terms like releasing up to a high percentage of invoice value and receiving cash soon after invoices are raised based on its invoice finance overview.
• Close Brothers Invoice Finance describes a suite of invoice finance products, including invoice discounting, factoring and broader asset based lending, using language about releasing funds from unpaid invoices and providing additional working capital facilities on its invoice finance page.

As a concept, invoice finance can be a flexible part of wider working capital finance for B2B businesses, but the detailed structure of each facility will vary by lender and client. ### Facility size and structure Ultimate Finance indicates it can fund invoice finance facilities up to a multi million pound headline limit and refers to high advance percentages against unpaid invoices on its invoice finance facts section. However, it does not publish a full public matrix of minimum and maximum facility sizes for every scenario, so real world limits vary and are subject to credit assessment. Close Brothers Invoice Finance similarly references funding facilities tailored to business size, mentioning that it can provide significant funding lines as part of invoice finance and asset based lending solutions according to its product details. Independent summaries such as the 2026 review from ExpertSure describe Close Brothers as typically working with more established firms and offering facilities into the multi million pound range, but these are secondary observations that may change over time based on ExpertSure's 2026 Close Brothers review, so facility sizes should be treated as varying. In practice, both lenders structure facilities individually, taking into account sector, debtor quality, concentration risk, and security available. Neither provides a standardised public tariff that would let a business fully price or size a facility without direct engagement. ### Eligibility and typical client profile Ultimate Finance presents itself as serving SMEs across a wide range of sectors and states that it looks at the overall business story rather than just credit scores, based on wording across its homepage and comments about supporting ambitious businesses in its general FAQ section. Funding Agent's independent review also characterises Ultimate Finance as often working with small and medium sized firms facing cash flow challenges that may not be fully met by high street banks according to its Ultimate Finance review. Close Brothers Invoice Finance describes its clients as established UK firms, and external comparisons often note minimum turnover expectations that are higher than some smaller independent invoice financiers, for example the 2026 ExpertSure review which notes that Close Brothers typically suits companies with significant annual turnover although specific thresholds may vary based on that review. The official product page emphasises tailored solutions for businesses that invoice other businesses rather than consumers on its invoice finance page. Because neither lender publishes an exhaustive eligibility table for all products, individual criteria such as minimum turnover, time trading, sector appetite and required security should be treated as varying and confirmed on enquiry. ### Other products around invoice finance Ultimate Finance complements invoice finance with other working capital and asset backed products. Its site lists asset finance and structured finance for larger or more complex funding needs, as well as trade finance for purchasing stock, on its main site and a trade finance PDF linked from its working capital pages. This means that in some cases Ultimate Finance can combine invoice finance with asset or trade facilities under a broader relationship. Close Brothers Invoice Finance sits alongside other Close Brothers lending arms that provide asset finance and loans to various sectors based on Close Brothers lending overview. The invoice finance division itself offers invoice discounting, factoring and full asset based lending where receivables are combined with inventory, plant or property as collateral according to its product page.

2. Costs and repayments in practice

Neither Ultimate Finance nor Close Brothers Invoice Finance publishes full rate cards for invoice finance on their public websites, and both describe pricing as tailored. This means any cost comparison must rely on indicative structures rather than confirmed numbers. Ultimate Finance explains that invoice finance involves fees that depend on business profile and facility usage on its invoice finance page, which mentions cost factors in its FAQ section. Close Brothers similarly notes that pricing for its invoice finance products is based on the nature of the business, the facility type and risk profile, according to wording on its product page and associated materials. Because invoice finance providers across the UK typically charge a combination of service fees and discount charges but do not always disclose exact percentages publicly, general guidance from independent sources such as the British Business Bank and specialist brokers is often used to frame expectations. For example, the British Business Bank explains that invoice finance carries fees for service and the cost of funds without quoting specific rates on its invoice finance guidance. #### Typical cost components Based on common UK market practice described by independent brokers like Hello Aria in its 2026 overview of invoice finance providers, which includes Close Brothers among examples, pricing usually includes a service fee on turnover plus a discount margin over a base rate although precise figures vary by provider and client based on Hello Aria's 2026 invoice finance comparison. Applying that general structure to these lenders:

• Ultimate Finance is likely to price invoice finance using a service fee and a discount margin tailored to the facility, but it does not disclose specific percentages or APRs in public materials, so any numeric rate would vary and must be confirmed directly as implied by its invoice finance FAQs.
• Close Brothers Invoice Finance is also understood to use a two part pricing model, with a service fee and discount charge that depend on turnover, debtor quality and facility structure, but again specific rates are not given on its official product page, so pricing varies.

Other potential charges such as arrangement fees, audit fees or minimum monthly fees can exist in the wider invoice finance market according to independent educational content like the invoice finance FAQs from broker Hilton Baird which outlines common fee types while stressing that exact levels depend on the provider based on Hilton Baird's invoice finance FAQ. However, neither Ultimate Finance nor Close Brothers publishes a long list of precise incidental charges, so any such costs should be treated as varying and clarified case by case. #### Comparison table, high level structure The table below summarises how costs are typically structured by Ultimate Finance and Close Brothers Invoice Finance. All details are indicative and non exhaustive, and actual charges will vary. #### Worked example 1, illustrative factoring facility Assumptions for illustration only, not specific to either lender and not reflective of actual quoted fees which will vary:

• A B2B company has average monthly invoicing of £200,000.
• It uses a full factoring facility with a high percentage advance on each invoice.
• Total invoice collections in a month are £200,000 and the company draws down the maximum available.

Illustrative mechanics:

• When the company raises £200,000 of invoices, it receives an advance into its invoice finance account shortly after submitting schedules.
• Over the month, customers pay their invoices into the facility trust account.
• As payments are received, the balance of the advance is reduced automatically, with any surplus after charges released back to the client.

In this scenario, the cash flow benefit is that the business effectively converts credit sales into near immediate cash, though it pays an overall cost for service and funding. The exact pence per pound cost would depend on negotiated pricing with Ultimate Finance or Close Brothers and therefore varies. #### Worked example 2, selective drawdown and seasonality Again using illustrative assumptions only:

• A seasonal services firm has monthly invoicing that ranges from £100,000 in quiet months to £300,000 in peak months.
• It uses an invoice discounting facility where it controls credit management.
• The firm draws only 50 percent of its available funding during quiet months but closer to the maximum during peak months.

Illustrative mechanics:

• In quiet months, the company submits invoices but only draws part of the available funding, reducing funding charges while still benefiting from some accelerated cash flow.
• In peak months, it draws more heavily on the facility, accepting higher overall charges in exchange for the extra liquidity needed to cover wages and suppliers.
• In both cases, repayments occur as customers settle invoices, with the net amount after charges credited back to the business.

Neither Ultimate Finance nor Close Brothers provides a publicly available calculator for projecting cost under different usage patterns, so businesses should request personalised illustrations or use third party tools where appropriate.

3. Speed and service

Invoice finance providers typically emphasise quick access to cash relative to standard business loans. The British Business Bank notes that invoice finance can often release funds within a short period of invoices being raised, sometimes within days, although exact speeds vary by provider and facility type based on its guidance. Ultimate Finance highlights that once an invoice finance facility is set up, funds can be accessed rapidly after invoices are submitted, with wording about receiving a high proportion of invoice value within a short timeframe on its product page. It does not publish guaranteed approval timescales for setting up new facilities, so initial onboarding time varies. Close Brothers Invoice Finance similarly describes enabling businesses to release cash from invoices as soon as they are raised, effectively shortening the cash conversion cycle, according to its explanations on its invoice finance page and group content on the Growth Guarantee Scheme page. No public guarantee is given of specific setup times or drawdown timelines so these also vary. #### Relationship management and ongoing support Ultimate Finance promotes relationship led service, highlighting that clients have access to relationship managers and support teams that aim to understand the business and provide proactive assistance, as referenced on its homepage and case study or testimonial content like its testimonials page. Trustpilot reviews summarised by Ultimate Finance, showing a high aggregated score at the time of writing, suggest many clients value its customer service, but such ratings may change and are not a substitute for formal service guarantees, as seen on Trustpilot entries for Ultimate Finance. Close Brothers Invoice Finance also emphasises relationship management. Its about page states that it combines sector expertise with a relationship driven approach, and that clients work with dedicated teams to manage facilities according to its about section. Independent reviews and case studies referenced by brokers and commentators typically describe Close Brothers as offering hands on relationship management, but naturally individual experiences vary and some third party sites list both positive feedback and criticisms. #### Complaints and problem resolution Ultimate Finance's site provides general contact routes but does not host a prominently separate customer complaints policy dedicated to invoice finance, instead guiding users to contact details on its contact page. The Financial Conduct Authority register entry for Ultimate Finance Limited indicates that certain activities are regulated and also notes that some business clients may not have access to the Financial Ombudsman Service depending on the product type, which underlines the importance of understanding complaint routes in the contract based on the FCA firm record for Ultimate Finance Limited. Close Brothers Invoice Finance explicitly publishes a complaints procedure on its contact page. It states that if customers are unhappy they can complain and sets out steps for handling complaints with escalation routes, according to its contact and complaints page. Because invoice finance largely serves business clients, eligibility for redress schemes will depend on firm size and product type.

4. Who each lender suits

Based on publicly available information and cross checked independent commentary as of early 2026, both lenders broadly serve B2B businesses seeking to improve cash flow, but there are pattern differences in their typical client bases. Ultimate Finance, according to its own positioning as a funding partner for ambitious SMEs on its homepage and repeated references to supporting smaller businesses in its content, is often associated with small and mid sized companies that may not have access to large bank facilities. Funding Agent's review notes that clients frequently come from sectors such as recruitment, manufacturing and services with annual turnover that can be below the thresholds targeted by some large banks, although specific numbers vary based on that review. Close Brothers Invoice Finance, in contrast, is part of a bank group and is often positioned at the more established end of the SME and mid market space. The 2026 ExpertSure review and the Hello Aria comparison list Close Brothers among providers focusing on established B2B businesses with higher minimum turnover criteria than some niche boutiques, though they do not quote fixed thresholds because these can change, as seen in ExpertSure's analysis and Hello Aria's 2026 comparison. When considering fit:

• Ultimate Finance may be suitable for SMEs that value flexible underwriting and are open to working with a non bank specialist lender, particularly where a blended solution across invoice finance, asset finance and other products might be helpful, consistent with its range on its main site.
• Close Brothers Invoice Finance may suit businesses seeking a facility from a banking group with potential access to wider services and that meet any minimum turnover and risk expectations applied internally, based on its positioning on its product page and group lending overview.

Ultimately, suitability depends on the details of the individual case, including sector, debtor profile, concentration, existing indebtedness and directors' experience.

5. How to apply

Neither Ultimate Finance nor Close Brothers Invoice Finance publishes a complete step by step application flow specific to invoice finance on their public pages, but both outline initial contact routes and give indications of required information. #### Applying with Ultimate Finance Ultimate Finance directs prospective clients to enquire via online forms, telephone or email. Its contact page offers a web form and phone details for different products based on its contact section, while the invoice finance page includes calls to action inviting businesses to start a conversation with regional specialists on its invoice finance page. From those materials and wider UK invoice finance market practice described by brokers and educational sources, a typical Ultimate Finance application path looks like this, noting that details vary:

• Initial enquiry, sharing basic details such as sector, turnover, typical monthly invoicing and debtor spread.
• Provision of financial information for assessment, which could include recent management accounts, aged debtor lists and details of any existing invoice finance arrangements, in line with common documentation highlighted by industry guidance from firms such as Capital 8 Finance on invoice finance documentation.
• Indicative terms and further due diligence, including potential facility structure and key commercial terms sent for review.
• Legal documentation and onboarding, including signing facility agreements and setting up trust accounts, with processes governed by Ultimate Finance's legal notices and acceptable use policies on pages like its legals section.

Exact timeframes for approval and drawdown are not specified on Ultimate Finance's site so businesses should treat speed as varying and confirm during discussions. #### Applying with Close Brothers Invoice Finance Close Brothers Invoice Finance invites businesses to make contact through online forms or by phone. Its site features enquiry forms linked from the invoice finance product section and gives telephone contacts for regional teams, as shown on its main product page and its contact page. A generic application journey inferred from these materials and market practice is as follows, again with the caveat that details vary:

• Initial discussion with a regional director or sales contact to understand the business model, invoicing pattern and funding needs.
• Submission of financial statements, aged debtor and creditor reports, and details of any existing security, following typical asset based lending documentation expectations as noted in resources such as the UK Finance Invoice Finance and Asset Based Lending Standards Framework on UK Finance's site.
• Underwriting and facility structuring, where Close Brothers designs a tailored facility that may include invoice finance alone or as part of a broader asset based package.
• Agreement, documentation and go live, governed by Close Brothers standard legal and website terms set out on its terms and conditions page.

Again, no specific public commitments are made on how long each stage takes, so speed and complexity will depend on the size and nature of the facility.

6. Final verdict

On publicly available evidence to early 2026, Ultimate Finance and Close Brothers Invoice Finance are both established invoice finance providers in the UK market, backed respectively by a specialist asset based lending group and a wider banking group. Neither publishes full pricing schedules, and both emphasise tailored solutions backed by relationship management. Ultimate Finance appears particularly focused on SMEs that value flexibility and a lender that positions itself as a funding partner rather than a traditional bank, drawing on a suite of working capital and asset backed options, according to its marketing on its homepage and invoice finance page. Close Brothers Invoice Finance, by contrast, is integrated into a bank group and appears oriented towards more established businesses that fit its risk appetite and may benefit from the perceived stability and breadth of a banking institution, based on its product information and about section. Viewed side by side, the choice between them will often rest less on a headline price, which varies in both cases, and more on minimum eligibility thresholds, facility structure preferences, the importance of bank branding and the style of relationship management that best fits the business. Choose Ultimate Finance if:

• You are an SME that values a specialist asset based lender with a strong focus on working capital and flexible underwriting, as suggested on Ultimate Finance's product pages.
• You would like access to a mix of invoice finance, asset finance and potentially trade or structured facilities under one relationship, according to its range described on its main site.
• You prefer working with a provider that explicitly promotes relationship management and tailored funding support, as highlighted in Ultimate Finance's testimonials and FAQs.
• Your business profile or size may sit below the typical thresholds favoured by some bank owned invoice finance providers, based on observations in Funding Agent's independent review.

Choose Close Brothers Invoice Finance if:

• You are a more established B2B business seeking invoice finance or asset based lending from a lender that is part of a UK banking group, as outlined in the Close Brothers Invoice Finance about page.
• You want the option to explore broader asset based lending structures leveraging receivables alongside other business assets within the Close Brothers ecosystem.
• You place value on the perceived stability and governance associated with a listed banking group, referencing the group context on Close Brothers corporate pages.
• Your turnover, sector and debtor profile are likely to match the expectations highlighted in independent reviews that describe Close Brothers as favouring mid market businesses.

In all cases, businesses should request detailed written quotations, review facility documents carefully and, if needed, consult independent advisors before entering into any agreement.

7. Sources

• Ultimate Finance official site
• Ultimate Finance invoice finance product page
• Ultimate Finance FAQs
• Ultimate Finance testimonials
• Ultimate Finance legals
• Ultimate Finance contact page
• FCA register entry for Ultimate Finance Limited
• Funding Agent Ultimate Finance review
• Close Brothers Invoice Finance product page
• Close Brothers Invoice Finance about page
• Close Brothers Invoice Finance contact and complaints page
• Close Brothers Invoice Finance website terms and conditions
• Close Brothers Group lending overview
• Close Brothers Growth Guarantee Scheme information
• ExpertSure 2026 Close Brothers Invoice Finance review
• Hello Aria 2026 invoice finance providers comparison
• British Business Bank invoice finance guidance
• Hilton Baird invoice finance FAQs
• Capital 8 Finance invoice finance guide
• UK Finance invoice finance and asset based lending standards framework
• Trustpilot Ultimate Finance reviews
• Funding Agent guide to invoice financing for digital agencies