North East
- Bibby Finance 3
- Kriya 2
- Ultimate Finance 1
- Novuna 1
- Invoicefair 1
INVOICE FINANCE · MONTHLY REPORT
Invoice Finance Charges
Analysis - August 2026
Analysis of new invoice finance debentures registered at Companies House for August 2026. The month recorded 361 new IF charges, down 49 (-12.0%) versus August 2025, the softest August in the dataset. Cumulative 2026 stands at 3,122, down 230 (-6.9%). Bibby led with 60 charges, followed by eCapital (34), Apollo (18) and Quba (13).
Published: September 2026
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Data to: 6 September 2026
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Source: Companies House
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Contains public sector information licensed under the Open Government Licence v3.0
Simon Carter, CCO · Invoice Finance Intelligence
August 2026 Total
361
new IF charges
Headline Var.
-12.0%
vs August 2025
Cumulative YTD
3,122
-230 (-6.9%) vs prior year
Top Lender
60
Bibby Finance (+4)
Summary
August saw 361 new IF charges, down 49 on August 2025 (410). Prior August totals were 423 (2022), 363 (2023), 396 (2024) and 410 (2025). Cumulative 2026 is 3,122, 230 behind 2025; excluding 185 ABN Amro and 28 HSBC-to-4SYTE transfers in the 2025 base, the underlying gap is 17 (-0.5%).
Banks eased to 81 (-3), with cumulative bank activity 629 (-106). Large independents recorded 166 (-15): Bibby grew to 60 (+4) and eCapital to 34 (+3), while Close Brothers fell to 20 (-6) and Skipton to 3 (-10). Mid-tier activity was 75 (-38), affected by 4SYTE's 16 (-32); specialists rose to 28 (+4), led by Quba at 13.
August records included Bibby (60), eCapital (34), Apollo (18), Quba (13), Ultimate (10), Paragon and Sallyport (9 each), and Shire (7). Optimum registered no charges; its combined book with eCapital was 317 against 340. Close Brothers led refactor wins with seven, including three from Lloyds.
Key Insights
- Softest August in the dataset: 361 charges, down 12.0% year on year.
- Large independent divergence: Bibby (+4) and eCapital (+3) grew, while Skipton (-10), Novuna (-7) and Close Brothers (-6) fell.
- Mid-tier fell 38 charges: 4SYTE was 16 versus 48 in August 2025; Apollo rose to 18 (+3).
- Sector changes were mixed: employment rose to 52 (+5), while specialised construction fell to 23 (-14) and retail to 5 (-13).
Lender Analysis
August 2026 registrations, August 2025 comparison and cumulative 2026 data.
| Lender | 2024 | 2025 | 2026 | Var. | YTD 2026 | YTD Var. |
|---|---|---|---|---|---|---|
| RBS Invoice Finance | 24 | 21 | 27 | +6 | 220 | +14 |
| Lloyds Commercial Finance | 44 | 29 | 24 | -5 | 203 | -65 |
| HSBC Invoice Finance | 16 | 23 | 21 | -2 | 155 | -31 |
| Metro Bank IF | 8 | 5 | 5 | - | 28 | -17 |
| Investec Capital | 1 | 6 | 4 | -2 | 23 | -7 |
| Total - Banks | 93 | 84 | 81 | -3 | 629 | -106 |
| Lender | 2024 | 2025 | 2026 | Var. | YTD 2026 | YTD Var. |
|---|---|---|---|---|---|---|
| Bibby Finance | 56 | 56 | 60 | +4 | 466 | +11 |
| eCapital Commercial Finance | 32 | 31 | 34 | +3 | 308 | +64 |
| Close Brothers | 30 | 26 | 20 | -6 | 193 | -60 |
| Skipton Business Finance | 13 | 13 | 3 | -10 | 74 | -57 |
| Novuna | 9 | 19 | 12 | -7 | 88 | -17 |
| Time Finance | 16 | 15 | 14 | -1 | 105 | +11 |
| Ultimate Finance | 8 | 9 | 10 | +1 | 86 | -14 |
| Cynergy Business Finance | 5 | 7 | 3 | -4 | 53 | -3 |
| IGF | 2 | 2 | 1 | -1 | 26 | -3 |
| Praetura | 2 | - | 2 | +2 | 21 | +5 |
| Secure Trust Bank | 8 | 1 | 3 | +2 | 13 | -4 |
| Leumi ABL | 1 | 1 | 2 | +1 | 13 | -11 |
| Pulse Cashflow Finance | 2 | - | - | - | 18 | -1 |
| FGI Finance | 1 | 1 | 2 | +1 | 2 | - |
| Total - Large Independents | 185 | 181 | 166 | -15 | 1,466 | -79 |
Mid-tier Independents
| Lender / cohort | 2024 | 2025 | 2026 | Var. | YTD 2026 | YTD Var. |
|---|---|---|---|---|---|---|
| Apollo Business Finance | 12 | 15 | 18 | +3 | 172 | +41 |
| Team Factors | 19 | 13 | 8 | -5 | 115 | +13 |
| Optimum SME Finance | 14 | 10 | - | -10 | 9 | -87 |
| 4SYTE | 5 | 48 | 16 | -32 | 126 | -4 |
| Paragon / Simplicity / Sallyport / Shire and other mid-tier | 32 | 27 | 33 | +6 | 260 | +33 |
| Total - Mid-tier Independents | 82 | 113 | 75 | -38 | 682 | -4 |
Specialists
| Lender | 2024 | 2025 | 2026 | Var. | YTD 2026 | YTD Var. |
|---|---|---|---|---|---|---|
| Quba solutions | 8 | 12 | 13 | +1 | 96 | -2 |
| Sonovate | 1 | 1 | 3 | +2 | 61 | +32 |
| Zodeq | 11 | 5 | 9 | +4 | 42 | -55 |
| Liquid Link | 2 | 4 | 1 | -3 | 20 | -17 |
| Giant Finance | 1 | 2 | 1 | -1 | 18 | -2 |
| Bourne AI | - | - | 1 | +1 | 5 | +5 |
| Total - Specialists | 23 | 24 | 28 | +4 | 242 | -39 |
Sector Analysis
| Sector | 2024 | 2025 | 2026 | Var. | £1m+ debtors |
|---|---|---|---|---|---|
| Employment activities | 55 | 47 | 52 | +5 | 5 |
| Wholesale trade | 33 | 42 | 40 | -2 | 8 |
| Specialised construction activities | 36 | 37 | 23 | -14 | 5 |
| Transportation | 39 | 36 | 20 | -16 | 2 |
| Office admin and business support | 18 | 20 | 17 | -3 | 3 |
| Retail trade | 12 | 18 | 5 | -13 | 1 |
| Manufacture of food products | 9 | 6 | 8 | +2 | 5 |
| Human health activities | 7 | 4 | 8 | +4 | 1 |
| Civil engineering | 5 | 4 | 12 | +8 | 5 |
| Residential care activities | 6 | 5 | 9 | +4 | 1 |
| Services to buildings and landscape activities | 4 | 13 | 10 | -3 | 2 |
| Manufacture of fabricated metal products | 19 | 18 | 13 | -5 | 2 |
| Other personal service activities | 4 | 10 | 8 | -2 | - |
| Technology - programming, software etc | 6 | 8 | 8 | - | 1 |
| Printing and associated activities | 4 | 5 | 2 | -3 | - |
| Other professional, scientific and technical activities | 6 | 3 | 4 | +1 | - |
| Warehousing and support activities for transportation | 11 | 4 | 8 | +4 | 3 |
| Manufacture of rubber and plastic products | - | 7 | - | -7 | - |
| Construction of buildings | 2 | 2 | 7 | +5 | - |
| Waste collection, treatment and disposal activities | 6 | 5 | 4 | -1 | 1 |
| Security and investigation activities | 7 | 10 | 4 | -6 | - |
| Wholesale and retail trade | 9 | 5 | 5 | - | - |
| Architectural and engineering activities | 4 | 12 | 9 | -3 | 1 |
| Other manufacturing | 7 | 5 | 5 | - | 2 |
| Rental and leasing activities | 1 | 2 | 4 | +2 | 1 |
Regional Activity
North West
- Bibby Finance 9
- RBS Invoice Finance 8
- eCapital Commercial Finance 6
- Lloyds Commercial Finance 4
- Ultimate Finance 3
Yorkshire / Humber
- Bibby Finance 6
- Time Finance 4
- 4SYTE 3
- Close Brothers 2
- Ultimate Finance 2
Midlands
- Bibby Finance 6
- HSBC Invoice Finance 6
- Close Brothers 5
- Lloyds Commercial Finance 3
- Zodeq 3
East Midlands
- eCapital Commercial Finance 3
- RBS Invoice Finance 2
- Bibby Finance 2
- Sallyport Commercial Finance 1
- Close Brothers 1
East of England
- Bibby Finance 5
- HSBC Invoice Finance 3
- Praetura 1
- Lloyds Commercial Finance 1
- Bourne AI 1
South East
- Bibby Finance 9
- eCapital Commercial Finance 8
- 4SYTE 6
- Lloyds Commercial Finance 6
- Close Brothers 6
South West
- Lloyds Commercial Finance 3
- Time Finance 2
- RBS Invoice Finance 2
- Paragon Business Finance 2
- Bibby Finance 2
London
- Bibby Finance 11
- eCapital Commercial Finance 7
- Quba Solutions 6
- HSBC Invoice Finance 4
- Lloyds Commercial Finance 3
Wales
- RBS Invoice Finance 3
- Bibby Finance 3
- Metro Bank IF 2
- Lloyds Commercial Finance 2
- Apollo Business Finance 1
Scotland
- eCapital Commercial Finance 6
- Bibby Finance 4
- Sallyport Commercial Finance 2
- Paragon Business Finance 1
- Novuna 1
Northern Ireland
- Sallyport Commercial Finance 1
- RBS Invoice Finance 1
Debtor Size
| Cohort | Period | Total | >£250k | >£1m |
|---|---|---|---|---|
| Banks | August | 81 | 64% | 41% |
| Large Independents | August | 166 | 31% | 16% |
| Banks | Cumulative 2026 | 629 | 65% | 34% |
| Large Independents | Cumulative 2026 | 1,466 | 30% | 10% |
Refactoring
August refactoring channels show Close Brothers led wins with 7, including 3 from Lloyds Commercial Finance. Lloyds gave up the most business.
Notable New Charges
| Borrower | Lender | Region | Details |
|---|---|---|---|
| Getronics Services UK Limited | FGI Finance | London | £37.9m turnover; £57.3m trade debtors |
| TH Glasshoughton Bidco Limited | Arbuthnot ABL | Yorkshire / Humber | £104.7m turnover; £22.9m trade debtors |
| AppsFlyer UK Ltd | Leumi ABL | South West | £62.1m turnover; £13.0m trade debtors |
| Bernard Matthews Foods (Sunderland) Limited | HSBC Invoice Finance | Midlands | £104.5m turnover |
| Montash Limited | Lloyds Commercial Finance | London | £32.2m turnover; £7.2m trade debtors |
| Richardson Milling (UK) Limited | HSBC Invoice Finance | East of England | £47.8m turnover; £7.0m trade debtors |
| Shires Stability Ltd | Novuna | South West | Company No: 13386075; last filing July 2025; net assets -£1.4m |
| Triple F Chips Distribution Limited | SME Invoice Finance | North West | Company No: 07090111; last filing July 2025; staff 92 |
| Manor Fresh Limited | HSBC Invoice Finance | East of England | £85.8m turnover; £5.4m trade debtors |
| Vivobarefoot Limited | HSBC Invoice Finance | London | £91.4m turnover; £5.0m trade debtors |
Methodology & Caveats
This report analyses new invoice finance charges registered at Companies House during August 2026, including charges submitted to 6 September 2026.
IF charges are identified where the charge-holder is directly identifiable as an invoice finance provider, or where charge-holder and description match typical IF patterns. Some lenders, including Barclays and Santander, cannot be reliably matched and are excluded. A group charge counts once; phoenix companies are not treated as refactors.
Refactor rates use specific IF charges. Generic bank charges are included only where satisfied within 100 days of the new IF charge or left open. Regions are Spark sales regions allocated by AI from HMRC or Companies House registered address.
Contains public sector information licensed under the Open Government Licence v3.0. Analysis © Spark Finance Group Plc.