Business overdraft alternatives

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  • Aldermore

Avoid business overdraft charges with invoice finance

Business overdrafts are expensive and inflexible – and, just as importantly, the banks are increasingly unwilling to offer them. So what’s the alternative? With Simply Business and Aldermore Bank you can use invoice discounting or factoring to borrow against the value of your sales. It’s a flexible option that grows with your business, and it even means that you’ll get your invoices paid on time.

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Simple alternatives to business overdrafts

From factoring and invoice discounting to asset finance, Aldermore Bank provide a huge range of options.

To make sense of what’s available, here’s a quick break down:

Factoring: gives you fast access to funds owed by customers, while also providing a full credit control service. You get the funds you need, without having to chase the payments.

Invoice discounting: also gives you fast access to owed funds, but unlike with factoring, you’ll still be collecting. It’s a cost-effective way of boosting cashflow, and your cutomers will see no difference.

Asset finance: helping you pay upfront for expensive equipment, vehicles and other assets, Aldermore Bank can help you secure what you need to keep your business competitive.

Get started with Aldermore Bank

Arranging your UK invoice discounting solution is quick and easy - just follow these simple steps:

  • Complete the quick enquiry form, telling us a bit more about you and your business.
  • Once we’ve got a picture of your needs and priorities, we’ll refer you to Aldermore Bank’s specialist business finance team. They’ll then get in touch by email with a quote, or to arrange a face-to-face appointment at a time that suits you.
  • Happy with your quote? Aldermore Bank will tailor a brand new invoice discounting, factoring, asset finance or commercial mortgage solution to help you quickly take control of your business finances.

To get a quote now, why not try out Aldermore Bank’s quick calculator?

Why invoice discounting?

  • Immediate cash injection, with up to 85% of your invoice values paid
  • An ongoing source of cashflow funding, that grows with your business
  • Your customers need never know the difference, with your service staying exactly the same

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Why use factoring?

  • Up to 90% of your invoice value, paid immediately
  • Debt collection managed on your behalf
  • More funds available than with a typical overdraft

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