Skipton Business Finance invoice Factoring Review

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By Rob Binns | Senior Writer | Published: 5 January 2016

A subsidiary of the Skipton Building Society, SBF were founded at the beginning of the century with a remit to provide businesses efficient and straightforward funding to relieve the pressures of cash flow problems. In that time Skipton have become one of the leading invoice finance providers in the UK and continue to increase both their reputation and customer base.

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All invoice finance providers carry inherent pros and cons with their service. This is due to the fact that some features, which might suit one business, can be a disadvantage to others. The main features Skipton provide are:

  • Flexibility
  • Transparent Pricing
  • Non-Recourse Factoring
  • Free Credit Reports
  • Efficiency
  • Thoroughness
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Because invoice factoring requires you sign a contract, it is highly important that the service provided takes into account the potential of your business to grow. Rigid invoice factoring contracts often lead to problems in the medium to long-term that restricts growth rather than support it. Skipton boast a tailored factoring service that is able to grow with their clients, allowing a degree of peace of mind when signing the contract. This in turn can make the difference between a successful venture and one which is constantly treading water financially.

Transparent Pricing

Many less reputable factors might draw up contracts with hidden charges that make the service unsustainable. This can hurt small businesses, whose income may be fragile, and larger businesses, whose profits can be siphoned off with charges hidden in the small print or technicalities of the contract. Skipton pride themselves on the transparency of their service, meaning their clients are able to fully understand the charges incurred from the outset.

Non-Recourse Factoring

Non-recourse factoring is essentially the practice of the factor taking on liability for debts owed to you. This provides an enormous degree of security in the event of your customers becoming insolvent while debts remain outstanding. One of the problems with non-recourse factoring is the ability to access the service due to the risk the factor takes on. Skipton are renowned for providing non-recourse factoring to businesses that others might deem unsuitable, meaning smaller businesses can benefit from the practice.

Free Credit Reports

It is important for the factor, particularly with non-recourse factoring, that they understand the credit ratings of all your clients and providing you with this type of information, free of charge, can be of great benefit to you in understanding your client’s business and any risk associated.


At the heart of all invoice finance is the ability to access future funds as quickly as possible. Skipton provide funding within 24 hours of presentation of the invoice, meaning finances are made available at the earliest opportunity to their clients.


Another relatively unique part of Skipton’s invoice factoring service is the thorough way in which they approach the entire process. Support, more on that later, is of the highest quality and a willingness to understand the needs of their clients are, arguably, the main selling points of their factoring facility.


As Skipton do not use scorecards to ascertain the suitability of potential customers, businesses of all shapes and sizes are able to access the service, depending on the individual circumstances of the company. Having said that, the simplicity of facility and high level of support throughout makes them particularly well suited to small to medium sized enterprises.


Invoice factoring, even for services as transparent as Skipton’s, can be a complex process, especially when problems arise in the running of the business, something that is ubiquitous for just about all shapes and sizes of enterprises.

Skipton provide one of the most comprehensive support services for invoice factoring in the UK. Each client will be provided a knowledgeable “Relationship Manager” who can guide you through the ins and outs of, not just the factoring service itself, but all processes and issues related to it.

What’s more, much like the entire process, it is easy to access with no automated telephone systems. This means you are able to talk to support staff without delay, which can be hugely important when accessing funds efficiently is vital to the day-to-day running of your business.

Rob Binns Expert Market
Rob Binns Senior Writer

Rob writes mainly about the payments industry, but also brings to the table industry-specific knowledge of CRM software, business loans, fulfilment, and invoice finance. When not exasperating his editor with bad puns, he can be found relaxing in a sunny (socially-distanced) corner, with a beer and a battered copy of Dostoevsky.

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