Firm sees 50 per cent rise in clients as more firms use invoice finance

The organisation, a subsidiary of Skipton Building Society, has said the increase is due to a rise in companies using invoice finance as an alternative to raising money from high street banks.

Skipton has said owner-managed businesses from across the country have secured facilities with the leading invoice finance provider, as its ability to underwrite locally and provide flexible facilities has appealed to business owners.

Sales and marketing director Andy Grantham said: “Skipton Business Finance continues to expand its operations around the country, which is being reflected in the record amount of clients we have brought onboard in the first quarter.”

Mr Grantham said the business shares its parent company’s mutual ethos.

He said: “We believe the fact we share our parent’s ethos has helped us build a reputation up and down the country as a flexible, friendly and respected lender.”

He also indicated more funds were available to owner-managed businesses.

He said: “Skipton Business Finance continues to allocate cash to a significant fund with the aim to help UK businesses create wealth and employment.”

Founded in 2011, Skipton Business Finance has seen impressive growth across the country over the past 11 years and now has offices in Skipton, Leeds, Manchester and Birmingham.

The invoice finance industry as a whole has continued to thrive in early 2012, with the Asset Based Finance Association posting impressive growth figures and client numbers in June.

There are now almost 42,000 companies using invoice finance facilities across the UK as owner-managed businesses are increasingly seeing such funding lines as their preferred business finance solution.

Skipton Business Finance is a leading independent factoring and invoice discounting provider, offering a range of working capital solutions for businesses with annual sales ranging from new-start to £30m.