Invoice Finance Providers
A well known institution since... 1765, Lloyds Bank has developed a comprehensive set of services in factoring. This enormous banking institution can provide any kind of commercial banking services to its clients, who can take advantage of their solid resources, footprint, and customer-centric approach. Plus, Lloyds factoring services are not as exclusive as many businesses would think.
Lloyds factoring services and company background
Lloyds factoring is just one of the many commercial banking services offered by one of the oldest financial services provider in the UK.
One of the oldest British banking institutions...
Lloyds bank was founded in 1765, and after a series of mergers and acquisitions, the Lloyds banking group can even trace its origins back to 1695 and the foundation of sister bank Bank of Scotland.
Lloyds banking group has over 140,000 employees, manages over a quarter of bank deposits in the UK, and over £850 million total assets, in hundreds of outlets.
Strictly speaking, Lloyds factoring is taken care of by the Lloyds bank commercial banking division.
... offering a comprehensive set of factoring services
Lloyds factoring services include “traditional” factoring service, whereby Lloyds helps its client manage their sales ledger and credit control, offering immediate cash in exchange for their outstanding invoices to improve their cash flow by providing up to 90% of the invoice value within 24 hours.
This service is open to any UK business with an annual turnover of at least £50,000, making it relatively accessible. But Lloyds also provides for businesses with a turnover above £250,000 a confidential invoice discounting service.
Lloyds bank can boast an impressive track-record, and a wealth of human and financial resources to offer more than just Lloyds factoring to its business clients.
A 250 years old track-record in all fields of commercial finance...
Lloyds is still there to cater for the needs of the most discriminating businesses. Although many other subsidiaries and divisions of the Lloyds banking group are more known for their retail banking operations, Lloyds has long been known for commercial banking.
Whenever its business clients need it, Lloyds can extend their services to asset based lending, debtor protection, payroll finance, asset finance...
Also, the bank claims it has specialists with expert knowledge of any given economic sector to better understand the specific needs of its customers. Agriculture, construction, haulage, healthcare, manufacturing, print, retail are just a few of the sectors of which Lloyds bank believes it has expert knowledge.
... and customer-centric commitments
Lloyds bank constantly communicates about its customer-centric organisation. According to the bank, this commitment is materialized by the “client charter” especially directed to invoice finance clients and prospects. Commitments include:
- Indicative decision within 48 hours - for businesses with turnover up to £25 million -;
- Refund is possible after six months of service if the client is dissatisfied;
- No termination fees
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