Close Brothers Invoice Finance has launched a new team – called ‘Scale Up’ – to help support start-ups and smaller SMEs with facilities up to £350,000, and prepayments of up to 100% to maximise liquidity from day one.
Firms will have access to the funder’s IDeal platform, which allows the cash value of new invoices to be transferred into customers’ bank account the moment they are raised.
Larger deals will continue to be supported by the commercial team for facilities from £350,000 to £3m, while the corporate and ABL team focuses on structured solutions up to £65m.
For lending beyond £65m, the syndication product can be explored.
George May, managing director at Close Brothers Invoice Finance, said: “Access to funding at the earliest stages remains one of the biggest challenges for UK founders and clients who may previously have struggled to secure funding.
“Whether it’s a new start or a business scaling rapidly, our products now are now suitable from inception to £1bn+ in revenue, with specialist teams across invoice finance, asset-based lending, and syndications.”
