INVOICE FINANCE · MONTHLY REPORT

Invoice Finance Charges
Analysis - September 2026

September recorded 424 new IF charges, down 57 (-11.9%) versus September 2025. Cumulative 2026 stands at 3,543, down 290 (-7.6%). Bibby set another record with 77 charges, while Sallyport (11) and Shire (9) also reached records.

Published: October 2026|Data to: 7 October 2026|Source: Companies House|Open Government Licence v3.0

Simon Carter, CCO · Invoice Finance Intelligence

September 2026 Total

424

new IF charges

Headline Var.

-11.9%

vs September 2025

Cumulative YTD

3,543

-290 (-7.6%) vs prior year

Top Lender

77

Bibby Finance (+15)

Summary

September registered 424 new IF charges, compared with 481 in September 2025. Cumulative activity is 3,543 against 3,833. Removing 187 ABN Amro and 41 HSBC-to-4SYTE transfers from the 2025 base leaves an underlying gap of 62 (-1.7%). The adjusted position has drifted lower each month since July.

Banks recorded 84 charges (+4), led by HSBC with 31. Large independents recorded 199 (-2); mid-tier independents 87 (-67); and specialists 42 (+6). Bibby reached 77 (+15) and led the refactoring matrix with 10 wins. Sallyport and Shire recorded 11 and nine charges respectively. eCapital and Optimum combined stand at 353 year-to-date against 388.

Notable registrations include Madigan Gill Group, Berkmann Family Holdings and Titan Data Solutions. Historical figures below reflect the September source snapshot and may differ from previously published monthly reports.

New IF Charges by Month and Year

September source snapshot; later 2026 months are not yet reported.
Month202220232024202520262026 vs 2025
January340371366353371+18
February374420411409372-37
March451510436461388-73
April359366434429448+19
May384454434439366-73
June403421388398436+38
July427401455453380-73
August423363396410358-52
September429402374481424-57
October385368421422——
November405423389404——
December307297354379——
Cumulative to September35903708369438333543-290

Key Insights

  • A smaller market year on year: September fell 11.9%; cumulative activity fell 7.6%, or 1.7% after adjusting the prior-year transfer activity.
  • Record months for three lenders: Bibby recorded 77 charges, Sallyport 11 and Shire nine. Bibby’s cumulative total reached 543 (+26).
  • Mid-tier transfer effects: Mid-tier activity fell 67 charges, including 4SYTE at 10 versus 81 in September 2025 and Optimum at zero versus 12.
  • Technology grew while employment declined: Technology-related activity rose to 14 from five, while employment activities fell to 65 from 78 and specialised construction to 42 from 52.

Lender Analysis

Monthly registrations and cumulative activity for the named lender groups in the source. These groups total 412 September charges and 3,428 year-to-date; the source does not allocate the remaining 12 monthly and 115 cumulative headline charges to these groups.

Bank

Bank — September registrations
Lender2023202420252026Var.YTD 2026YTD Var.
RBS Invoice Finance47232527+2247+16
Lloyds Commercial Finance26311821+3224-62
HSBC Invoice Finance21212731+4186-27
Metro Bank IF4464-232-19
Investec Capital4341-324-10
Total — Bank102828084+4713-102
Historical cumulative figures and source-category proportions
Bank — cumulative to September
Lender2023202420252026Var.
RBS Invoice Finance419212231247+16
Lloyds Commercial Finance316373286224-62
HSBC Invoice Finance171170213186-27
Metro Bank IF56605132-19
Investec Capital20243424-10
Total — Bank982839815713-102
Bank — September funding-source proportions
LenderSpecific IF refactorBank chargesNo existing IF / bank
RBS Invoice Finance19%52%29%
Lloyds Commercial Finance29%10%61%
HSBC Invoice Finance23%61%16%
Metro Bank IF25%50%25%
Investec Capital100%——

Large independent

Large independent — September registrations
Lender2023202420252026Var.YTD 2026YTD Var.
Bibby Finance48516277+15543+26
eCapital Commercial Finance41363636—344+64
Close Brothers20312226+4219-56
Skipton Business Finance13141910-984-66
Novuna19142010-1098-27
Time Finance11121116+5121+16
Ultimate Finance4101014+4100-10
Cynergy Business Finance53122-1055-13
IGF——52-328-6
Praetura8211—21+4
Secure Trust Bank2312+114-4
Leumi ABL22———13-11
Pulse Cashflow Finance—223+121—
FGI Finance—1———2—
Total — Large independent173181201199-21663-83
Historical cumulative figures and source-category proportions
Large independent — cumulative to September
Lender2023202420252026Var.
Bibby Finance429515517543+26
eCapital Commercial Finance306310280344+64
Close Brothers243248275219-56
Skipton Business Finance16114715084-66
Novuna14514812598-27
Time Finance7484105121+16
Ultimate Finance7982110100-10
Cynergy Business Finance91736855-13
IGF24243428-6
Praetura34251721+4
Secure Trust Bank18211814-4
Leumi ABL20252413-11
Pulse Cashflow Finance17122121—
FGI Finance1322—
Total — Large independent1642171717461663-83
Large independent — September funding-source proportions
LenderSpecific IF refactorBank chargesNo existing IF / bank
Bibby Finance14%10%76%
eCapital Commercial Finance14%3%83%
Close Brothers31%15%54%
Skipton Business Finance30%10%60%
Novuna10%—90%
Time Finance19%13%68%
Ultimate Finance57%14%29%
Cynergy Business Finance——100%
IGF50%50%—
Praetura100%——
Secure Trust Bank—50%50%
Leumi ABL———
Pulse Cashflow Finance67%—33%
FGI Finance———

Mid-tier independent

Mid-tier independent — September registrations
Lender2023202420252026Var.YTD 2026YTD Var.
Apollo Business Finance15182222—194+41
Team Factors9161216+4131+17
Optimum SME Finance5912—-129-99
4SYTE268110-71136-75
Paragon Business Finance5673-456-4
Simplicity Finance2—5—-511-8
Sallyport Commercial Finance24—11+1155+31
Shire Invoice Finance2129+757+39
Castlebridge Finance1211—16-1
Wedo Finance4141-341+14
Peak Cashflow—138+525-3
Regency Factors212—-2—-9
TP2422————-8
Partnership Invoice Finance—22—-214+2
GRENKE2316+520-6
FI Capital1————3-3
Total — Mid-tier independent547215487-67768-72
Historical cumulative figures and source-category proportions
Mid-tier independent — cumulative to September
Lender2023202420252026Var.
Apollo Business Finance115107153194+41
Team Factors101148114131+17
Optimum SME Finance76941089-99
4SYTE3649211136-75
Paragon Business Finance59516056-4
Simplicity Finance13101911-8
Sallyport Commercial Finance15192455+31
Shire Invoice Finance17151857+39
Castlebridge Finance21171716-1
Wedo Finance42342741+14
Peak Cashflow30312825-3
Regency Factors27119—-9
TP2423278—-8
Partnership Invoice Finance12131214+2
GRENKE12242620-6
FI Capital101063-3
Total — Mid-tier independent609660840768-72
Mid-tier independent — September funding-source proportions
LenderSpecific IF refactorBank chargesNo existing IF / bank
Apollo Business Finance5%—95%
Team Factors13%6%81%
Optimum SME Finance———
4SYTE60%10%30%
Paragon Business Finance33%33%34%
Simplicity Finance———
Sallyport Commercial Finance73%—27%
Shire Invoice Finance——100%
Castlebridge Finance——100%
Wedo Finance100%——
Peak Cashflow13%—87%
Regency Factors———
TP24———
Partnership Invoice Finance———
GRENKE——100%
FI Capital———

Specialist

Specialist — September registrations
Lender2023202420252026Var.YTD 2026YTD Var.
Quba solutions8131211-1107-3
Sonovate191417+1378+45
Zodeq13768+250-53
Liquid Link—5111-1021-27
Giant Finance3234+122-1
Bourne AI———1+16+6
Total — Specialist43283642+6284-33
Historical cumulative figures and source-category proportions
Specialist — cumulative to September
Lender2023202420252026Var.
Quba solutions71101110107-3
Sonovate63863378+45
Zodeq7112510350-53
Liquid Link21324821-27
Giant Finance1582322-1
Bourne AI———6+6
Total — Specialist241352317284-33
Specialist — September funding-source proportions
LenderSpecific IF refactorBank chargesNo existing IF / bank
Quba solutions——100%
Sonovate6%12%82%
Zodeq25%—75%
Liquid Link——100%
Giant Finance25%—75%
Bourne AI100%——

Sector Analysis

The 25 SIC sectors shown in the source report, rather than an exhaustive allocation of the headline total. £1m+ debtors refers to borrowers with disclosed trade debtor books over £1m.

New invoice finance charges by sector — September
Sector20222023202420252026Var.Var. %£1m+ debtors
Employment activities6865727865-13-17%3
Wholesale trade3138263743+6+16%8
Specialised construction activities3434435242-10-19%2
Transportation3425294339-4-9%4
Office admin and business support2518152817-11-39%3
Services to buildings and landscape activities10471113+2+18%—
Manufacture of fabricated metal products15158167-9-56%1
Retail trade12179118-3-27%1
Manufacture of food products1077810+2+25%3
Other personal service activities10136106-4-40%1
Technology - programming, software etc1337514+9>+100%2
Human health activities104358+3+60%1
Printing and associated activities26253-2-40%—
Other professional, scientific and technical activities841085-3-38%—
Warehousing and support activities for transportation46798-1-11%1
Manufacture of rubber and plastic products72281-7-88%1
Construction of buildings53669+3+50%—
Waste collection, treatment and disposal activities; materials recovery4116—-6-100%—
Security and investigation activities53256+1+20%—
Wholesale and retail trade—7838+5>+100%1
Civil engineering61638+5>+100%1
Residential care activities26787-1-13%—
Architectural and engineering activities1263510+5+100%—
Other manufacturing4910108-2-20%3
Rental and leasing activities86643-1-25%—

Regional Activity

Leading named lenders by Spark sales region, as shown in the source; these are not complete regional totals.

North East

  1. Ultimate Finance — 4
  2. Sallyport Commercial Finance — 3
  3. Time Finance — 3
  4. eCapital Commercial Finance — 1
  5. Bibby Finance — 1

North West

  1. Bibby Finance — 7
  2. eCapital Commercial Finance — 5
  3. Close Brothers — 5
  4. Apollo Business Finance — 4
  5. Time Finance — 4

Yorkshire / Humber

  1. Bibby Finance — 7
  2. Ultimate Finance — 5
  3. Close Brothers — 4
  4. RBS Invoice Finance — 3
  5. eCapital Commercial Finance — 3

Midlands

  1. Bibby Finance — 10
  2. Lloyds Commercial Finance — 7
  3. HSBC Invoice Finance — 5
  4. RBS Invoice Finance — 3
  5. Close Brothers — 3

East Midlands

  1. Bibby Finance — 5
  2. eCapital Commercial Finance — 3
  3. Metro Bank IF — 2
  4. Apollo Business Finance — 2
  5. Sallyport Commercial Finance — 1

East of England

  1. Bibby Finance — 5
  2. Sonovate — 3
  3. Team Factors — 3
  4. Shire Invoice Finance — 2
  5. eCapital Commercial Finance — 2

South East

  1. HSBC Invoice Finance — 13
  2. eCapital Commercial Finance — 11
  3. Bibby Finance — 11
  4. RBS Invoice Finance — 7
  5. Apollo Business Finance — 6

South West

  1. Bibby Finance — 7
  2. eCapital Commercial Finance — 2
  3. Team Factors — 2
  4. Apollo Business Finance — 2
  5. Shire Invoice Finance — 1

London

  1. Bibby Finance — 11
  2. RBS Invoice Finance — 6
  3. Sonovate — 4
  4. 4SYTE — 4
  5. HSBC Invoice Finance — 4

Wales

  1. Bibby Finance — 5
  2. Close Brothers — 3
  3. RBS Invoice Finance — 2
  4. Team Factors — 2
  5. eCapital Commercial Finance — 2

Scotland

  1. Bibby Finance — 7
  2. Close Brothers — 3
  3. eCapital Commercial Finance — 3
  4. Novuna — 2
  5. HSBC Invoice Finance — 1

Northern Ireland

  1. Bibby Finance — 1
  2. Sonovate — 1
  3. GRENKE — 1

Debtor Size

Trade debtor-book bands, not confirmed facility amounts. The detailed distributions below cover bank and large-independent providers only. Blank count cells in the source are displayed as zero.

Debtor-book size — September 2026
LenderNew incorporationDebtors not disclosed£1–50k£50–100k£100–250k£250–500k£500k–£1m£1m+Total>£250k %>£1m %
RBS Invoice Finance1521125102763%37%
Lloyds Commercial Finance030334442157%19%
HSBC Invoice Finance1120133203184%65%
Metro Bank IF11001100425%0%
Investec Capital000001001100%0%
Total — Bank3104461112348468%40%
Bibby Finance20288155737719%4%
eCapital Commercial Finance1113632100363%0%
Close Brothers551123452646%19%
Skipton Business Finance210221111030%10%
Novuna131301011020%10%
Time Finance434020121619%13%
Ultimate Finance331022031436%21%
Cynergy Business Finance10000100250%0%
IGF000000022100%100%
Praetura000000101100%0%
Secure Trust Bank0110000020%0%
Leumi ABL000000000——
Pulse Cashflow Finance0110100030%0%
FGI Finance000000000——
Total — Large independent475823101614141719923%9%
View cumulative 2026 distributions
Debtor-book size — cumulative to September 2026
LenderNew incorporationDebtors not disclosed£1–50k£50–100k£100–250k£250–500k£500k–£1m£1m+Total>£250k %>£1m %
RBS Invoice Finance1624992036448924768%36%
Lloyds Commercial Finance243116122938353922450%17%
HSBC Invoice Finance1021009123410918683%59%
Metro Bank IF782135333234%9%
Investec Capital500035292467%38%
Total — Bank62653722649611824971365%35%
Bibby Finance12914167315156412754323%5%
eCapital Commercial Finance112873816412912934415%3%
Close Brothers35296142932334121948%19%
Skipton Business Finance14141818910108435%12%
Novuna1739961010349817%4%
Time Finance3018171117911812123%7%
Ultimate Finance1821711117101510042%15%
Cynergy Business Finance15730059165555%29%
IGF5102140152868%54%
Praetura441001562157%29%
Secure Trust Bank233001141443%29%
Leumi ABL231000251354%38%
Pulse Cashflow Finance433012622148%10%
FGI Finance000000022100%100%
Total — Large independent38737015689179175143164166329%10%
View cumulative lender leaders in each debtor band

New Incorporation

  1. Bibby Finance — 129
  2. eCapital Commercial Finance — 112
  3. Quba solutions — 71
  4. Apollo Business Finance — 64
  5. Team Factors — 51
  6. Close Brothers — 35
  7. Time Finance — 30
  8. Sonovate — 24
  9. Zodeq — 24
  10. Lloyds Commercial Finance — 24

Debtors Not disclosed

  1. Bibby Finance — 141
  2. eCapital Commercial Finance — 87
  3. Apollo Business Finance — 80
  4. Team Factors — 59
  5. Novuna — 39
  6. Shire Invoice Finance — 31
  7. Lloyds Commercial Finance — 31
  8. 4SYTE — 31
  9. Close Brothers — 29
  10. Sonovate — 25

1-50k Debtors

  1. Bibby Finance — 67
  2. eCapital Commercial Finance — 38
  3. Apollo Business Finance — 25
  4. Time Finance — 17
  5. Lloyds Commercial Finance — 16
  6. Quba solutions — 11
  7. 4SYTE — 11
  8. Zodeq — 10
  9. Team Factors — 10
  10. Sonovate — 10

50-100k Debtors

  1. Bibby Finance — 31
  2. eCapital Commercial Finance — 16
  3. Close Brothers — 14
  4. Apollo Business Finance — 13
  5. Lloyds Commercial Finance — 12
  6. Time Finance — 11
  7. RBS Invoice Finance — 9
  8. Skipton Business Finance — 8
  9. Sallyport Commercial Finance — 7
  10. Novuna — 6

100-250k Debtors

  1. Bibby Finance — 51
  2. eCapital Commercial Finance — 41
  3. Close Brothers — 29
  4. Lloyds Commercial Finance — 29
  5. RBS Invoice Finance — 20
  6. Skipton Business Finance — 18
  7. Time Finance — 17
  8. 4SYTE — 13
  9. Ultimate Finance — 11
  10. Paragon Business Finance — 11

250-£500k Debtors

  1. Bibby Finance — 56
  2. Lloyds Commercial Finance — 38
  3. RBS Invoice Finance — 36
  4. Close Brothers — 32
  5. eCapital Commercial Finance — 29
  6. 4SYTE — 26
  7. Ultimate Finance — 17
  8. HSBC Invoice Finance — 12
  9. Novuna — 10
  10. Time Finance — 9

£500k-£1m Debtors

  1. RBS Invoice Finance — 44
  2. Bibby Finance — 41
  3. Lloyds Commercial Finance — 35
  4. HSBC Invoice Finance — 34
  5. Close Brothers — 33
  6. 4SYTE — 20
  7. eCapital Commercial Finance — 12
  8. Time Finance — 11
  9. Skipton Business Finance — 10
  10. Ultimate Finance — 10

£1m+ Debtors

  1. HSBC Invoice Finance — 109
  2. RBS Invoice Finance — 89
  3. Close Brothers — 41
  4. Lloyds Commercial Finance — 39
  5. Bibby Finance — 27
  6. Arbuthnot Latham & Co — 19
  7. 4SYTE — 18
  8. Cynergy Business Finance — 16
  9. Ultimate Finance — 15
  10. IGF — 15

Refactoring Channels

The September switching matrix records 79 transfers between specific IF providers. Bibby led with 10 wins; Close Brothers and Sallyport each recorded eight. Sallyport’s total included seven transfers from Liquid Link. Matrix counts and rounded source-category percentages are reproduced separately and should not be treated as interchangeable.

September refactoring wins — incoming specific IF transfers
New providerWins
Bibby Finance10
Close Brothers8
Sallyport Commercial Finance8
HSBC Invoice Finance7
4SYTE5
eCapital Commercial Finance5
Lloyds Commercial Finance5
RBS Invoice Finance5
Ultimate Finance4
Skipton Business Finance3
Time Finance3
Pulse Cashflow Finance2
Team Factors2
Zodeq2
Apollo Business Finance1
Giant Finance1
Investec Capital1
Metro Bank IF1
Novuna1
Paragon Business Finance1
Peak Cashflow1
Praetura1
Sonovate1
Wedo Finance1
View all provider-to-provider channels
All non-zero channels in the source switching matrix
New providerPrevious providerCharges
4SYTEBibby Finance1
4SYTECynergy Business Finance1
4SYTEeCapital Commercial Finance1
4SYTETP241
4SYTEUltimate Finance1
Apollo Business FinanceeCapital Commercial Finance1
Bibby Finance4SYTE1
Bibby FinanceClose Brothers1
Bibby FinanceeCapital Commercial Finance1
Bibby FinanceHSBC Invoice Finance2
Bibby FinanceLloyds Commercial Finance1
Bibby FinanceRBS Invoice Finance2
Bibby FinanceSkipton Business Finance2
Close BrothersCynergy Business Finance1
Close BrothersLloyds Commercial Finance2
Close BrothersRBS Invoice Finance3
Close BrothersSonovate2
eCapital Commercial FinanceApollo Business Finance2
eCapital Commercial FinanceClose Brothers1
eCapital Commercial FinanceLiquid Link1
eCapital Commercial FinanceQuba solutions1
Giant FinanceZodeq1
HSBC Invoice FinanceBibby Finance1
HSBC Invoice FinanceClose Brothers1
HSBC Invoice FinanceIGF1
HSBC Invoice FinanceLloyds Commercial Finance3
HSBC Invoice FinanceSonovate1
Investec CapitalCynergy Business Finance1
Lloyds Commercial FinanceHSBC Invoice Finance1
Lloyds Commercial FinanceNovuna2
Lloyds Commercial FinancePraetura1
Lloyds Commercial FinanceUltimate Finance1
Metro Bank IFeCapital Commercial Finance1
NovunaSonovate1
Paragon Business FinanceNovuna1
Peak CashflowUltimate Finance1
PraeturaLloyds Commercial Finance1
Pulse Cashflow Finance4SYTE1
Pulse Cashflow FinanceClose Brothers1
RBS Invoice FinanceBibby Finance1
RBS Invoice FinanceHSBC Invoice Finance1
RBS Invoice FinanceSkipton Business Finance1
RBS Invoice FinanceSonovate1
RBS Invoice FinanceTeam Factors1
Sallyport Commercial FinanceBibby Finance1
Sallyport Commercial FinanceLiquid Link7
Skipton Business FinanceLloyds Commercial Finance1
Skipton Business FinanceNovuna1
Skipton Business FinanceRBS Invoice Finance1
SonovateTeam Factors1
Team FactorsApollo Business Finance1
Team FactorsNovuna1
Time Finance4SYTE1
Time FinanceHSBC Invoice Finance1
Time FinanceSallyport Commercial Finance1
Ultimate FinanceBibby Finance1
Ultimate FinanceClose Brothers1
Ultimate FinanceSkipton Business Finance1
Ultimate FinanceZodeq1
Wedo FinanceBibby Finance1
ZodeqLloyds Commercial Finance1
ZodeqTeam Factors1

Notable New Charges

Financial figures refer to filed accounts, not new lending amounts. PBT figures are estimates reported in the source.

Notable September registrations
BorrowerLenderRegionFiled-account details
Madigan Gill Group Holdings LimitedClose BrothersLondonCompany 07795892; last filing Sep-2025. £84.1m turnover; £20.9m trade debtors; £8.2m net assets; 233 staff (+1194.4%); estimated PBT £2.7m. Employment activities.
Berkmann Family Holdings LimitedHSBC Invoice FinanceLondonCompany 00790103; last filing Mar-2025. £121.2m turnover; £16.4m trade debtors; £23.4m net assets; 251 staff (+5.9%); estimated PBT £2.2m. Wholesale trade.
Titan Data Solutions LtdRBS Invoice FinanceLondonCompany 11631618; last filing Mar-2026. £36.7m turnover; £12.2m trade debtors; -£526k net assets; 31 staff (-6.1%); estimated PBT £505k. Wholesale trade.
SQE Energy LimitedRBS Invoice FinanceLondonCompany 09812682; last filing Dec-2024. £128.1m turnover; £9.9m trade debtors; -£10.4m net assets; 15 staff (+7.1%); estimated PBT -£2.7m. Electricity, gas, steam and air conditioning supply.
Flair Flooring Supplies LimitedHSBC Invoice FinanceMidlandsCompany 01663400; last filing Jun-2025. £48.4m turnover; £7.0m trade debtors; £4.8m net assets; 178 staff (0.0%); estimated PBT -£663k. Manufacture of textiles.
Tiffin Sandwiches LimitedHSBC Invoice FinanceYorkshire / HumberCompany 04010883; last filing May-2025. £57.2m turnover; £6.4m trade debtors; £7.7m net assets; 698 staff (+26.0%); estimated PBT £4.6m. Manufacture of food products.
Wells Farm Dairy LimitedHSBC Invoice FinanceMidlandsCompany 04859976; last filing Mar-2025. £57.4m turnover; £6.2m trade debtors; £3.7m net assets; 146 staff (+9.8%); estimated PBT £1.6m. Manufacture of food products.
Social Personnel LimitedBibby FinanceLondonCompany 11409621; last filing Dec-2025. £5.2m trade debtors; £897k net assets; 67 staff (-9.5%); estimated PBT £77k. Other personal service activities. Turnover not disclosed in this report.
Cotswold Energy Group LtdBibby FinanceSouth WestCompany 11563035; last filing Mar-2026. £21.4m turnover; £5.2m trade debtors; -£952k net assets; 115 staff (-3.4%); estimated PBT -£1.5m. Specialised construction activities.
Mitras Automotive (UK) LimitedIGFNorth WestCompany 02849455; last filing Dec-2025. £25.9m turnover; £4.8m trade debtors; £6.7m net assets; 160 staff (-6.4%); estimated PBT -£734k. Manufacture of rubber and plastic products.

Methodology & Caveats

This report analyses September 2026 invoice finance charges registered at Companies House, including submissions to 7 October 2026. It reproduces the September Spark Finance IF report’s snapshot, including revisions to earlier months.

IF charges are identified from directly identifiable charge-holders or predictions using charge-holder names and charge descriptions. Some lenders, including Barclays and Santander, cannot be reliably matched and are excluded. This is identified charge activity, not a complete measure of lending volumes or facility values.

A charge across a group of companies counts once. Some facilities relate to companies that never become operational. Phoenix companies are not treated as refactors. Regions are Spark sales regions allocated by AI from HMRC or Companies House registered addresses.

Refactor rates use specific IF charges. Generic bank charges count only where satisfied within 100 days of the new IF charge or left open. “No existing IF / bank” means neither a specific IF charge nor a generic bank charge; other charge types are excluded from that classification.

Borrower trade debtor books are not facility limits. Lender groups, selected sectors and regional leaders are subsets of the report’s headline activity; no missing allocations have been inferred. Percentages are rounded as in the source.

Contains public sector information licensed under the Open Government Licence v3.0. Analysis © Spark Finance Group Plc.

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