Aldermore Invoice Finance Review (2026): Fees, Eligibility and Verdict

Aldermore is a relationship-led invoice financier: it advances up to 90% of an approved invoice, gives you a named relationship manager and an online account, and prices every facility individually. It does not publish a rate card, and the figures circulating on comparison sites are not Aldermore’s. That leaves you judging a lender on three different kinds of evidence at once: what Aldermore publishes, what its standing contract permits, and what only an offer letter will tell you. Keeping those three apart is the whole decision on this provider.

Aldermore Invoice Finance at a Glance

Our Verdict

Aldermore is a strong fit for an established B2B business that wants a permanent working-capital facility against its sales ledger and values a named contact over a self-service app. The product set is broad and genuinely useful: disclosed factoring with credit control, confidential invoice discounting, asset-based lending layered on top, and optional Bad Debt Protection. What you cannot do is find out what it costs without applying. Aldermore states the two main charges (a service fee and a discount fee) and then tells you the numbers arrive in your offer letter. That is honest, but it means you cannot compare Aldermore against another provider until you have both quotes in front of you, and it puts the burden of the comparison on you rather than on the shortlist.

What Aldermore does publish, and what almost no reviewer reads, is the standing contract behind the facility. Its General Conditions of Invoice Finance set out the fee categories your agreement can carry, the formula for the early termination charge, the circumstances in which Aldermore can take an advance back, and a full tariff of standard charges with actual pound figures. We read those documents in full for this update, and they answer more of the questions a finance director actually has than the product pages do.

Best For

• Established UK B2B businesses invoicing on credit terms, broadly from around £500,000 turnover upwards
• Companies that want the whole ledger funded on an ongoing basis rather than one invoice at a time
• Businesses without an in-house credit control function, who will get real value from factoring
• Firms that want confidentiality: Aldermore’s invoice discounting facility can be run without customers knowing
• Companies with assets beyond the debtor book (plant, machinery, stock, property) that could support an asset-based lending structure
• Businesses with customer concentration risk that would benefit from Bad Debt Protection on named accounts

Not Ideal For

• Businesses that want to fund a single invoice occasionally: Aldermore’s agreement is built around assigning the whole ledger
• Anyone who needs to compare a firm price before committing time to an application
• Very early-stage companies with no trading history and no meaningful sales ledger
• Businesses that want a fixed, short, low-commitment term: the minimum period and notice period are negotiated, not published
• Companies expecting Bad Debt Protection to remove all bad-debt risk; it is capped, conditional, and expressly not insurance

Key Facts: Verified 25 August 2026

Each row below carries its evidence position. Published means Aldermore states it on a current public page. Contract-defined means it appears in Aldermore’s published General Conditions of Invoice Finance as a concept your individual agreement will settle. Bespoke means the value is set per business. Case-by-case means Aldermore says it assesses it individually.

What Aldermore Publishes and What Only a Quote Will Tell You

Aldermore’s public pages are unusually clear about the shape of the deal and unusually quiet about its price. Third-party write-ups conflate the two constantly, which is how market-average percentages end up presented as Aldermore’s rates. Sorting the two apart is the most useful thing you can do before you speak to anyone.

Aldermore publishes: the 90% advance ceiling, the 24-hour funding claim, the few-days-to-a-few-weeks setup range, the £750,000 general turnover guideline, the fact that the main charges are a service fee and a discount fee, the fact that an arrangement fee normally applies, that it takes security over your debtors, that contract length is negotiable, and the full Bad Debt Protection specification.

Its published contract adds: the fee categories your agreement can carry, how the discount fee accrues, how the early termination payment is calculated, when Aldermore can reverse an advance, and a tariff of fixed standard charges. These are real, sourceable and rarely quoted anywhere else. They describe what the framework permits, not what every client pays.

Only your quote will tell you: the service fee percentage, the discount margin, the arrangement fee, any minimum service fee, your prepayment percentage, your minimum period, your notice period, your recourse period, and the cost of Bad Debt Protection. Anyone quoting you an “Aldermore rate” before you have an offer letter is quoting the market, not the lender.

Also Consider

Compare Invoice Financiers

Tide Funding Options

Details →

If a Term Loan Suits Better

Funding Circle

Details →

Short-Term Flexibility

iwoca

Details →

A broker such as Tide Funding Options is the quickest way to put an Aldermore quote alongside two or three others, since none of these providers publishes a rate you could compare on paper. Funding Circle and iwoca are here for a different reason: if your cash-flow gap is a one-off rather than a structural feature of your payment terms, a term loan or a flexible credit line may cost less than committing a whole ledger. Our best invoice finance companies comparison covers the direct alternatives. BusinessExpert may earn a commission if you apply through some of these links, which never affects which providers we include or what we say about them.

How Much of an Invoice Will Aldermore Advance?

Up to 90%, and we found Aldermore applies the same ceiling to both of its main products. That consistency is worth noting, because most of Aldermore’s competitors split the figure by product, and a reader moving between provider pages will otherwise assume someone has made a mistake.

Invoice Factoring: Up to 90%

Aldermore’s factoring page states that it advances up to 90% of invoice value, available within 24 hours of sending in each invoice, with its own credit control team collecting from your customers. Because Aldermore does the collecting, the facility is, in its own words, “predominantly provided on a disclosed basis”: your customers will know. Aldermore then releases the remaining balance, less its charges, once the customer pays.

Invoice Discounting: Up to 90%

The same 90% ceiling on invoice discounting, the same 24-hour funding claim, but you keep the collections and the facility can be run confidentially. Aldermore is explicit that it will not contact your customers on your behalf under a discounting facility. It positions discounting at businesses that already have a credit control function; factoring at those that do not. That is the only meaningful difference in how the two are sold, and it is a resourcing question rather than a pricing one. If you have not settled that question yet, our factoring versus invoice discounting comparison works through it.

Why the Two Products Show the Same Percentage

On most invoice finance shortlists the two products carry different maxima, because discounting is lower-touch and lenders price the reduced servicing into a higher advance. Bibby Financial Services, the nearest comparable, publishes up to 85% on factoring and up to 95% on discounting. We read both figures off Bibby’s own product pages on 25 August 2026. Aldermore does not split them. If you see an Aldermore advance rate quoted anywhere as something other than 90%, it is either a historical figure or a facility-specific one, and neither belongs in a comparison table.

The more important point is that 90% is a ceiling, not an entitlement. Your own prepayment percentage is set in your agreement, and Aldermore’s published General Conditions reserve the right to reduce it if your debt turn runs above the agreed target: in plain terms, if your customers start paying more slowly than the facility was underwritten to assume.

Headline Advance vs Cash You Can Actually Draw

This is where invoice finance facilities disappoint people, and Aldermore’s own contract sets out the arithmetic more clearly than any marketing page could. Its General Conditions define your availability (the money you can actually request) as the prepayment percentage applied to the invoice value of approved debts, minus the debit balance already on your current account, and then subject to the concentration percentage, the export percentage, the facility review limit and any reserves Aldermore has applied.

Taken in the order each one applies:

• Your ledger is not your eligible ledger. A debt only becomes fundable once Aldermore has set a customer funding limit for that customer. Until then it is a disapproved debt and attracts no advance at all. Aldermore can establish, change or cancel any customer funding limit at any time, with immediate effect.
• Approved debts can become disapproved. The contract lists three triggers: the debt breaches a warranty you have given, it is still outstanding when the recourse period expires, or legal proceedings are issued to recover it.
• Concentration caps the reliance on any one customer. The concentration percentage is the share of your approved ledger a single customer represents. Aldermore can vary it, and the export percentage, at any time with immediate effect. If one customer is 60% of your book, expect this to be the number that decides your facility.
• The facility review limit is an overall ceiling regardless of how large the eligible ledger grows.
• Reserves come off the top. Aldermore may apply reserves at any time, and doing so reduces availability directly.
• What you have already drawn is deducted. Availability is a net figure, not a gross one.

So the honest version of the headline reads: up to 90% of the invoice value of debts Aldermore has approved, within a per-customer limit it controls, within a concentration cap it can move, under an overall facility ceiling, less reserves, less what you already owe. Aldermore is also not obliged to pay you where remittances are still uncleared, where you are insolvent, or where the payment would push you past availability. It can agree to fund above availability, but its published tariff prices that as an overpayment fee: the greater of £100 or 2% of the excess, capped at £2,000.

Worked through on a real ledger, the gap between the headline and the cash is wide enough to change a funding decision. The conversion below is a BusinessExpert illustration using Aldermore’s published mechanics and our own assumed limits, because the limits themselves are set per facility:

The exclusions, the cap and the reserve are our assumptions; the sequence is Aldermore’s. Two figures are worth carrying away. Before you had drawn anything, the facility produced £274,950 against a £400,000 ledger: 69%, not 90%. And the single biggest deduction in most real facilities is not the advance percentage at all; it is the concentration cap, which is why the shape of your customer list matters more than its size.

None of this is unusual for a whole-ledger facility. It is simply the part that never appears in the “up to 90%” headline, and the reason two businesses with identical turnover can be quoted facilities that behave completely differently.

How Much Does Aldermore Invoice Finance Cost?

Nobody outside Aldermore can tell you, and any page that gives you a percentage range is guessing. What we can do is show you every charge that can appear, where each one comes from, and what to make the lender put in writing before you sign.

Does Aldermore Publish Its Rates?

No, and we checked every current invoice finance page it publishes before saying so. Aldermore states that cost “will be dependent on your requirements from the facility and the size of your business”, and that once it understands the business it will produce a proposal setting out the facility and the fees. Its factoring and discounting pages both say charges are agreed upfront and set out in your facility offer letter, and that you will also receive a Client Guide detailing additional fees for services you use.

That is a genuine non-disclosure, not an oversight, and it is normal for relationship-led invoice finance. The problem is what fills the vacuum. Service-fee bands of 0.25% to 3%, and discount margins of 1.5% to 3% over base rate, circulate widely as though they were Aldermore’s published pricing. They are market-wide generalisations. This review previously carried them, and we have removed them: attaching a market average to a named lender is worse than saying nothing, because it looks like a fact you can hold the lender to.

How Invoice Finance Charging Works

Two charges do the heavy lifting, and they are calculated on completely different bases, which is why a quote that looks cheap on one can be expensive overall.

The service fee pays for running the facility and, on factoring, for the credit control. Aldermore charges it either as a fixed amount or as a percentage of the invoice value of each invoice you notify, whichever your agreement specifies. Because it attaches to invoice value, it scales with what you bill, not with what you borrow. A business that invoices heavily but draws lightly still pays it in full.

The discount fee is the cost of the money. Aldermore charges it on the balance it has advanced to you, and its General Conditions confirm it accrues daily, from the day an amount is debited to your current account until the relevant value date. It is quoted as a margin over a reference rate, and here Aldermore’s contract contains a detail worth knowing: the base rate in its General Conditions is defined as the base rate of Lloyds Bank plc, not the Bank of England’s Bank Rate. In practice the two track each other closely (Bank Rate has been held at 3.75% since the Monetary Policy Committee’s decision published on 30 July 2026), but the reference rate in your agreement is the one that governs your bill, and it is worth reading rather than assuming.

The practical consequence: the service fee is driven by your turnover, the discount fee by your average drawn balance and how long your customers take to pay. Shortening debtor days cuts the second and does nothing to the first.

The Fees to Check in Your Offer Letter

Aldermore’s published General Conditions of Invoice Finance list the charge categories an individual agreement can carry. This is the framework, not a bill: whether each one applies to you, and at what level, is set in your own agreement. But it is the most complete public picture of Aldermore’s cost structure available, and it is where the surprises hide.

The extended service fee and the minimum service fee are the two most people miss. The first turns slow-paying customers into a recurring monthly charge on top of the discount fee already accruing. The second means a quiet quarter costs you the same as a busy one, which quietly changes the economics for any business with real seasonality.

The Standard Charges Aldermore Does Publish

Buried in the same General Conditions is something the product pages never mention: a tariff of fixed charges, with actual figures. These are the closest thing Aldermore has to a published price list. We could not find them quoted in any other review of this provider, which is why we have set them out in full below.

Read as a group, these tell you something the product pages do not: the facility is designed to be run through E3, on time, within limits. Every charge above prices a deviation from that: asking Aldermore to make a payment you could have made yourself, going over availability, filing your reconciliation late, needing a limit moved. A well-administered facility should attract almost none of them. A stretched one can attract several in the same month, which is exactly when a business can least afford them.

Worked Example: What a Year Might Cost

The figures below are a BusinessExpert illustration, not an Aldermore quotation. We have used Aldermore’s published charging structure and applied our own assumed rates, because Aldermore publishes none. Treat it as a method for reading your own offer letter, not as a prediction of your price.

Our assumptions: a business invoicing £3,000,000 a year on 45-day terms; an 85% prepayment percentage; an average drawn balance of £315,000; a service fee of 0.9% of invoice value; a discount fee of 3.0 percentage points over a 3.75% reference rate, so 6.75% all-in on the drawn balance; a £5,000 arrangement fee in year one. Every one of those five numbers is ours, not Aldermore’s.

Those last two lines are the ones to sit with. The same facility costs 1.78% of turnover and 16.9% of the money actually borrowed, and which figure you quote decides whether invoice finance sounds cheap or expensive. Neither is wrong; they answer different questions. If you are comparing against an overdraft, the second is the honest comparison, because an overdraft charges you only on what you draw. If you are budgeting, the first is what hits the profit and loss account.

Notice also how the two charges respond to different levers. Cutting debtor days from 45 to 35 would reduce the average drawn balance and take roughly £4,700 off the discount fee, while leaving the £27,000 service fee untouched. Negotiating ten basis points off the service fee saves £3,000 a year on this profile, every year. On most mid-market ledgers the service fee is the bigger number and the one worth arguing about, which is the reverse of where most conversations with a lender start. In my experience of reading these quotes, the discount rate is where the negotiation happens and the service fee is where the money is.

How to Compare an Aldermore Quote With Another Provider

Because none of the numbers are published, a like-for-like comparison has to be built from the offer letters. Ask every provider on your shortlist for the same eleven items, and insist on them in writing:

1. The service fee basis (fixed or a percentage of invoice value) and the rate.
2. Any minimum service fee, and the period it is measured over.
3. The discount rate, and the reference rate it is a margin over.
4. The arrangement or facility fee.
5. Any annual or renewal fee.
6. The extended service fee mechanics, and the age at which an invoice triggers it.
7. Your prepayment percentage, and the concentration cap that sits behind it.
8. The minimum period and the notice period.
9. The early termination calculation.
10. The cost of Bad Debt Protection, if you want it.
11. An all-in first-year figure modelled on your realistic average draw, not on your ledger.

Then apply each provider’s numbers to your own ledger, as the worked example above does. Two quotes with identical service fees can differ by thousands once minimums, concentration caps and extended service fees are applied to a real book.

Gathering three comparable offers is the slow part, and a broker shortens it: Tide Funding Options puts an Aldermore quote next to others from a panel of invoice financiers, which is the only way to judge a bespoke price. BusinessExpert may earn a commission if you apply through that link.

Aldermore Invoice Finance Eligibility

The short version: an established UK business selling to other businesses on credit terms, with a sales ledger worth funding. Aldermore’s published turnover guidance is where most readers get tripped up, because it says two different things in two different places, and both are current.

Who Can Apply

Aldermore’s own framing is deliberately broad. Its FAQ says that if you are a business providing a service or product on credit and raising invoices, you may be eligible. It names the sectors it funds most often across its factoring, discounting and intermediary pages: business services, distribution, recruitment and employment agencies, engineering, haulage and transport, importing, printing, manufacturing, wholesale, and construction contracting.

What Aldermore does not publish is any restriction by legal form, and we looked for one. Earlier versions of this review said standard invoice finance was limited to limited companies and LLPs, and that sole traders and partnerships could only access it through the Growth Guarantee Scheme. We could not source either claim, and Aldermore’s own published General Conditions run to conditions written specifically for partnerships and for sole traders, which is not what you would expect if neither could hold a facility. We have removed the claim rather than reverse it: if legal form matters to your application, it is a question for Aldermore directly, and one worth asking early.

Does Aldermore Have a Minimum Turnover?

It has a guideline, and it is not a fixed minimum. We compared every current Aldermore page that states a turnover figure, and three of them say three slightly different things. The difference matters if you are anywhere near the line:

• The customer invoice finance page and FAQs: “As a general rule we do require businesses applying for invoice finance to have a minimum turnover of £750,000.”
• The factoring and invoice discounting pages: you should consider the product if your business “has an annual turnover typically above £750,000”.
• The intermediary page: “We can fund SMEs with a turnover of £500k to £750k across a wide range of sectors.”

Read together, “as a general rule” and “typically” are doing real work, and the intermediary channel states plainly that the £500,000 to £750,000 band is fundable. So the accurate answer to “what is Aldermore’s minimum turnover” is that £750,000 is where it positions the product, not where it stops looking. Below £500,000 we found no current public statement either way, so the honest position is that we do not know rather than that you are excluded. I would treat the £750,000 figure as a signal about the kind of business Aldermore wants, rather than as a test you pass or fail.

Practically, that gives you three bands:

If you are sitting at £600,000 and a comparison table has told you Aldermore’s minimum is £750,000, that table has read one Aldermore page and not the others.

What Aldermore Assesses at Underwriting

Aldermore does not publish an underwriting checklist for standard invoice finance, and we have removed the detailed list this review previously carried, because it was not attributable to Aldermore. What the company does say is that the information required varies: “As no two businesses are the same we will be clear on the information we require from you as part of these discussions.”

What its contract tells you about the assessment is more useful than a document list. Aldermore sets a customer funding limit per customer, which means it is underwriting your customers as much as it is underwriting you. It applies concentration and export percentages, which means the shape of your ledger matters as much as its size. It can require a sales ledger audit. And it charges for late reconciliations and missing information, which tells you the standard of ledger administration it expects. If your sales ledger is clean, your customers are creditworthy and no single account dominates the book, you are in the position Aldermore prices well.

Start-Ups and Newer Businesses

Aldermore publishes no minimum trading period for invoice finance, but the £750,000 turnover guideline does most of the filtering on its own, and a facility built around funding an established ledger has little to work with when there is barely a ledger. If you are not yet trading, or you are in your first year, this is not the product to spend time on.

The Growth Guarantee Scheme is the one route that changes the arithmetic for smaller businesses, because scheme-backed invoice finance facilities start at £1,000. It is covered below, and its eligibility rules are the scheme’s, not Aldermore’s.

Aldermore’s Invoice Finance Products

Five things sit under the invoice finance heading, and they are not alternatives to each other so much as layers. Two are the core facility, one sits on top of it, one is an optional protection, and one is a government-backed variant.

Invoice Factoring

Aldermore’s factoring advances up to 90% and its credit control team collects from your customers, chasing payment and handling the sales ledger. Because Aldermore is in contact with your customers, factoring is provided predominantly on a disclosed basis: they will know a financier is involved. Aldermore positions it at businesses without an in-house credit control function, and for a company where the finance director is also the person chasing invoices, outsourcing that is often the point of the facility rather than a side effect. The remaining balance is released, less charges, once your customer pays.

Invoice Discounting

Invoice discounting keeps the same 90% ceiling, but you keep the collections and Aldermore stays out of sight. Aldermore states the facility is confidential and that it will not contact your customers on your behalf. It positions discounting at businesses with an established credit control department, which is the real test: the facility only works if someone in your business is reliably getting invoices paid, because Aldermore’s charges keep accruing whether or not that happens.

Asset-Based Lending

Asset-based lending extends the funding beyond the debtor book to plant and machinery, inventory and property. One detail is easy to miss and changes how you should think about it: Aldermore states that ABL “works in conjunction with an invoice finance facility which will be required to utilise the benefits of Asset Based Lending”. It is not a standalone alternative to invoice finance: it is a structure layered on one. Aldermore positions it at larger businesses and at event-driven funding: expansion, acquisitions, management buy-outs and buy-ins, refinancing and turnarounds. It also assigns an ABL structuring manager alongside the relationship manager, and the process starts with a site visit to value the assets.

Bad Debt Protection

Bad Debt Protection is optional cover, taken alongside a facility, that pays out if a protected customer becomes insolvent or simply never pays. It is genuinely useful and it is routinely misdescribed, including in the previous version of this review, so it gets its own treatment in the recourse section below. The headline: up to 95% of qualifying debt excluding VAT, on customers you nominate, within limits Aldermore agrees, and Aldermore states expressly that it is not insurance.

The Growth Guarantee Scheme

Aldermore is accredited to offer Growth Guarantee Scheme invoice finance, which is the successor to the Recovery Loan Scheme and is managed by the British Business Bank. Scheme-backed invoice finance facilities run from £1,000 up to £2m per business group, for terms of three months to three years. For Northern Ireland Protocol borrowers the group ceiling is £1m.

The scheme’s eligibility rules are separate from Aldermore’s ordinary criteria, and you should not read one across to the other. To qualify, your business must have turnover of up to £45m on a group basis, be carrying out trading activity in the UK and (for most businesses) generate more than 50% of its income from trading activity. Aldermore must consider the proposition viable, the business must not be in difficulty, and the borrower must confirm in writing that the facility will not breach its subsidy limits. That trading-income test belongs to the scheme; this review previously presented it as a standard Aldermore requirement, and it is not.

Two points on the guarantee itself, and they have to be read together. The scheme gives Aldermore a 70% government-backed guarantee against the outstanding balance, after it has completed its normal recovery process. The borrower remains 100% liable for the debt. The guarantee protects the lender’s downside; it does not reduce yours by a penny. Aldermore can also take personal guarantees at its discretion under the scheme, in line with its normal commercial lending practice, although a principal private residence cannot be taken as security within it.

Personal Guarantees, Security and Contract Terms

Aldermore takes security over your debtor book as standard, and everything else (guarantees, additional security, the length of the commitment) is settled case by case in your agreement. That is a genuinely different position from the one this review used to state, and the difference matters to anyone weighing personal exposure.

Does Aldermore Require a Personal Guarantee?

Not as a published standard. Aldermore’s invoice finance FAQ answers the security question directly: “Yes, we take security over your debtors. As we consider each business individually, any other requirements will be discussed with you and presented transparently.” Its product pages carry the standard footnote that security may be required and that any asset used as security may be at risk.

The previous version of this review said Aldermore typically takes a debenture and directors’ personal guarantees. We could not source that from any current Aldermore material, and we searched its published General Conditions, which contain no guarantee condition at all. It has been removed. The only place Aldermore publishes a guarantee policy is the Growth Guarantee Scheme, where it states that personal guarantees “can be taken at Aldermore’s discretion, in line with their normal commercial lending practices”, and that a principal private residence cannot be taken as security within the scheme.

What that leaves you with is a question rather than an answer, and it is the right question to put early: what security, beyond the debtor book, is this facility conditional on? A lender that assesses individually will tell you individually. Do not sign on an assumption in either direction.

Minimum Period, Notice and Renewal

Aldermore’s FAQ says contract length “is negotiable and will be included as part of the terms of your contract”. Its General Conditions then set out the machinery: the agreement begins on the commencement date and runs for a minimum period; after that minimum period expires, either party can end it by giving written notice of not less than the notice period.

Neither length is published, and this review previously claimed initial terms of 12 to 24 months. That figure had no source and has gone. What you should take from the structure is that there are two separate lock-ins, not one. The minimum period is how long before you can start the exit; the notice period is how long the exit then takes. A twelve-month minimum with three months’ notice is a fifteen-month commitment from day one, and businesses regularly discover the second number only when they try to leave.

A facility renewal fee can also be debited on each anniversary of the commencement date, so a facility that rolls on is not necessarily a facility that costs nothing to keep.

Termination and Exit Costs

Leaving early triggers an early termination payment, and Aldermore’s General Conditions publish the formula, which is unusual, and useful. The charge is described as liquidated damages for the loss caused by early termination. It is calculated for each month, or part month, between the actual termination and the earliest date you could have terminated properly, at the monthly average of the aggregate of the discount margin plus all service fees and any extended service fees payable over the previous six months. Where the agreement has run for less than six months, the average is taken over the shorter period it has run.

Read the components carefully, because the formula uses the discount margin (the part of the discount fee that sits above the reference rate) rather than the whole discount charge. On the illustrative profile used earlier, that is a 3.0-point margin on a £315,000 average balance, so about £790 a month, plus £2,250 a month of service fee: roughly £3,040 a month. Exiting nine months early would therefore point at something in the region of £27,000. That is our arithmetic on our assumed figures, not an Aldermore quote, but it shows why the minimum period is the term to negotiate hardest. It is also why “the contract length is negotiable” is a better answer than it first sounds: the negotiation is worth real money.

A separate recoveries fee of up to 10% of the debit balance on your current account can apply where Aldermore is recovering what you owe following a termination event, which is a different and more serious situation than simply giving notice.

One thing worth clearing up, because the old version of this review had it backwards: Aldermore’s FAQ discussion of exit fees is about leaving another provider to move to Aldermore. It notes that your existing financier is likely to charge you for going early, and offers to help with the transfer. It is not a statement about the cost of leaving Aldermore.

What to Confirm in the Offer Letter Before You Sign

Five terms decide what this facility is actually like to live with, and none of them is published. Get all five in writing, on the same page, before you commit:

1. The minimum period: how long before you can serve notice at all.
2. The notice period: how long the exit takes once you can.
3. Any minimum service fee, and the period it is measured over, which decides how a slow quarter is treated.
4. The early termination payment: worked through on your own numbers, not described in the abstract.
5. Any security or guarantee beyond the debtor book: named, with the asset it attaches to.

Add to that your prepayment percentage, your concentration cap and your recourse period. Those three determine how much cash the facility actually produces, and they are set in the agreement rather than advertised.

What Happens if a Customer Does Not Pay?

Aldermore’s standard facility is a recourse facility: if a funded invoice goes bad, Aldermore can take the advance back off you. Bad Debt Protection changes that for the customers you protect, within limits. Getting this pair right is the most consequential thing on the page, and the previous version of this review got it materially wrong.

Recourse: When Aldermore Can Reverse an Advance

Recourse is defined in the General Conditions as Aldermore’s right to recover a prepayment it has already made, and we counted five situations in which it can exercise that right (our guide to recourse versus non-recourse invoice finance explains why this distinction decides who carries the bad-debt risk):

• Where the customer disputes the invoice, and the contract says this applies whether or not the dispute is valid.
• Where an approved debt becomes a disapproved debt.
• Where an approved debt is still outstanding when the recourse period expires, or earlier if that customer becomes insolvent.
• Where a single customer owes more than 25% of your total outstanding debt beyond the recourse period.
• Over any or all outstanding debts, at any time after the agreement ends.

Aldermore exercises recourse either by written notice or simply by debiting the amount to your current account, which is the mechanism that catches people out: the money comes off your availability without a separate transaction you have to approve. The first trigger deserves particular attention. A customer raising a dispute (even a spurious one) is enough. That puts a premium on clean paperwork, agreed delivery terms and prompt handling of queries, because on a heavily drawn facility a disputed invoice is not an argument with a customer, it is a hole in your cash position.

What Bad Debt Protection Covers

Bad Debt Protection is optional cover taken alongside your facility, and Aldermore’s published specification is precise. You can apply it to your entire customer base or to selected customers, which is the feature that makes it genuinely useful: if one account represents a disproportionate share of your ledger, you can protect that account and leave the rest uncovered. Aldermore sets a protection limit for each customer based on their current financial status, and it covers both UK and export customers.

It pays out on a BDP event, which the contract defines as customer insolvency or protracted default, and protracted default has a specific meaning: failure to pay a protected debt within 180 days of its due date. So the cover is not restricted to a customer going under. A customer who simply never pays and never formally fails is covered too, six months after the invoice fell due.

What It Does Not Cover, and Why “95%” Is Not “Non-Recourse”

Aldermore can protect up to 95% of the debt outstanding excluding VAT, as long as the balance exceeds £500. Every part of that sentence is a limit:

• Up to 95%, not 100%. At least 5% of a protected loss stays with you.
• Excluding VAT. The VAT on a failed invoice is not protected, though it may be recoverable through bad debt relief on your VAT return.
• Above £500 only. Small balances fall outside it entirely.
• Within an agreed BDP limit. Exposure to a customer above their limit is unprotected, so a customer whose limit Aldermore has set below your actual trading level leaves a gap.
• On qualifying debt only. The contract defines a protected debt as one that is undisputed, within the limit, and compliant with every warranty and undertaking in the agreement. A disputed invoice is not protected, and disputes are also a recourse trigger, so the same event can remove protection and reverse the advance at once.
• Subject to the agreement. Payment depends on compliance with the invoice finance agreement and the BDP conditions.

And Aldermore states it plainly on its own page: BDP “is not insurance or an insurance product”. That matters beyond terminology. You are not an insured party with the protections that implies; you are a client relying on a contractual promise under an agreement you must remain compliant with.

We said in an earlier version of this review that Bad Debt Protection makes the facility “effectively non-recourse”. It does not, and we should not have written it. Recourse operates on disputes, on limit breaches, on ageing, on concentration and on termination, none of which BDP touches. What BDP does is remove a specific risk (a protected customer failing to pay a clean invoice), up to 95%, within a limit, on the customers you have chosen. That is worth paying for on a concentrated ledger. It is not blanket cover, and treating it as blanket cover is how a business ends up carrying a loss it thought it had transferred.

How Quickly Can You Get Funding?

Two different timescales get quoted as one, and the gap between them is weeks. Aldermore’s “24 hours” is real, but it describes funding an invoice on a facility that is already running, not how long it takes to get the facility.

Application and Setup

Aldermore’s published range is “a few days to a few weeks”, depending on the facility and the business. We found the same answer on the main invoice finance page and in the FAQs, and nowhere does Aldermore commit to anything tighter. This review previously said one to three weeks; that was tighter than the source supports and has been replaced with Aldermore’s own wording.

On documents, Aldermore publishes no fixed checklist: “The key for us is to understand what you do and how you do it… As no two businesses are the same we will be clear on the information we require from you as part of these discussions.” The seven-item document list this review used to carry was not Aldermore’s, and has gone. Expect the process to cover your business model, your sales ledger, your customers and your funding requirement, and expect Aldermore to specify what it needs once it understands the first of those. For asset-based lending there is an additional step: Aldermore visits the business to value the assets before structuring the facility.

First Drawdown

Your first advance follows the facility going live rather than the application being approved, and one contractual step sits between them. On the commencement date you deliver a schedule of all outstanding debts through E3, and thereafter a schedule for each invoice within seven days of raising it. Aldermore also needs customer funding limits in place before any of those invoices is eligible for an advance: a debt outside a limit is a disapproved debt and attracts nothing. In practice the businesses that draw fastest are the ones whose ledger data is clean enough to load without reconciliation.

Funding Once the Facility Is Live

This is where the 24-hour claim applies, and Aldermore repeats it consistently across the invoice finance, factoring and discounting pages: up to 90% of the invoice value, available within 24 hours of submitting the invoice. Its intermediary page goes slightly further, describing same-day access to funds. Availability is recalculated after every transaction, so the portal shows what you can draw at any point rather than what you could draw yesterday.

Same-day money by CHAPS is possible but priced: £30 per payment under the published tariff. Routine payments go through E3 at no charge, and asking Aldermore to make a payment you could have made yourself in the portal attracts a £25 fee. Small amounts, but they reward getting comfortable with the system rather than phoning your relationship manager.

Aldermore Customer Reviews

The public rating is good and it is almost entirely about a different part of the bank. That needs saying up front, because a 4.4 on a review page about invoice finance implies an evidence base that does not exist.

Trustpilot Rating: Checked 25 August 2026

Aldermore Bank holds 4.4 out of 5 from 6,206 reviews, on a claimed profile it has held since December 2018. The distribution is 81% five-star, 8% four-star, 1% three-star, 1% two-star and 9% one-star: a strongly positive score with a hard core of dissatisfied customers rather than a soft middle. Aldermore replies to 79% of negative reviews, typically within 48 hours.

What the Reviews Are Actually About

Savings accounts, cash ISAs, online banking, mortgages and telephone service. Reading the current review stream, the recurring themes are competitive savings rates, straightforward account opening and being able to reach a person on the phone. Those are retail banking experiences from retail banking customers.

We did not find enough clearly attributable invoice finance reviews in the public data to calculate a meaningful product-level score, and we are not going to imply one. The previous version of this page listed “what customers like” and “common complaints” as though they were themes drawn from invoice finance clients. They were not; they were editorial inferences wearing customer-review clothing, and both sections have been removed. The legitimate concerns they contained (bespoke pricing you cannot compare, contract commitment, setup that takes weeks rather than days) are addressed in the relevant sections above, where they belong and where they are sourced.

How Much Weight to Give the Score

Some, but not for the decision you are making. We do not rate Aldermore’s invoice finance on it, and nor should you. A bank-wide Trustpilot rating tells you something real about administrative competence and willingness to engage: an institution that opens savings accounts smoothly and answers its phones is unlikely to be chaotic on the commercial side. It tells you nothing about how Aldermore prices an invoice finance facility, how it sets customer limits, how it behaves when a debtor disputes an invoice, or what it is like to leave.

For those questions, better evidence is available and it is not a star rating: ask your prospective relationship manager for two or three client references in your sector, and ask a broker who places business with several financiers how Aldermore compares on limit-setting and on flexibility when a ledger deteriorates. That is the information a score cannot carry.

Is Aldermore Safe, Regulated and Who Do You Complain To?

Aldermore Bank is a fully authorised UK bank. Your invoice finance facility, if you are a limited company, is not a regulated product. Both statements are true at the same time, and the second one is the one that changes what you can do when something goes wrong.

What Aldermore’s FCA Registration Actually Covers

Aldermore Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under Financial Services Register number 204503. It is registered in England, company number 947662, with its registered office at Apex Plaza, Forbury Road, Reading.

The entity is regulated. The activity, in most cases, is not. Aldermore’s own regulatory disclosure states that “Invoice Finance, Commercial Mortgages, Property Development, Buy-To-Let Mortgages and Asset Finance lending to limited companies are not regulated by the Financial Conduct Authority or Prudential Regulation Authority”. Commercial lending to companies sits outside the regulated perimeter, and invoice finance is commercial lending.

The consequence is the part that gets left off most review pages. Because the facility is not a regulated product, the FCA’s conduct rules do not govern how it is sold or administered to you, and there is no compensation scheme standing behind it. The Financial Services Compensation Scheme protects deposits, up to £120,000 per eligible depositor, and a borrowing facility is not a deposit. If you also hold an Aldermore business savings account, that money is protected; the invoice finance facility is not the kind of thing the FSCS covers.

UK Finance Membership and the IF/ABL Standards Framework

Where statutory regulation stops, an industry framework picks up part of the gap. UK Finance and the independent Professional Standards Council maintain the Invoice Finance and Asset-Based Lending Standards Framework, which covers the activities of all UK Finance invoice finance and asset-based lending members. It comprises the IF/ABL Code, an independent complaints process run by a specialist alternative dispute resolution organisation, and the Professional Standards Council itself. Membership commits a provider to acting in accordance with it.

Aldermore is in scope, and we checked the directory rather than taking the claim from Aldermore. UK Finance lists both Aldermore Bank and, separately, Aldermore Invoice Finance as members (checked 25 August 2026).

Two limits are worth being straight about. The framework is a voluntary industry commitment, not statutory regulation, and it does not carry the enforcement powers a regulator has. And UK Finance describes its independent complaints process as available “to the majority of clients” of its members, not to all of them. It is a real route with real limits, which is more than nothing and less than the FCA.

How to Complain, and Whether the Ombudsman Can Help You

Aldermore’s published complaints process runs in a defined order, and it is unusually clear about what happens when the Ombudsman route is closed to you.

You complain to the Complaints Officer at Aldermore Bank in Reading, by post, by phone on 0118 2075045, or by email to complaints@aldermore.co.uk. Aldermore states its complaints process meets FCA and Financial Ombudsman Service requirements. If you are unhappy with its final response, you have up to six months from the date of that response letter to refer the complaint onwards.

Where it goes next depends on whether you are an eligible complainant. Aldermore acknowledges directly that “due to the nature of some of the services we provide, some of our customers will be ineligible to refer their complaint to the FOS”, and names the alternative for each business line: for asset finance customers it is the Finance and Leasing Association, and for invoice finance customers it is UK Finance. Aldermore says it will identify the appropriate body in its final response letter.

So the practical question is whether your business clears the Ombudsman’s size test. For acts or omissions from 1 April 2019 onwards, a small business is an eligible complainant if its annual turnover is under £6.5m and it either has fewer than 50 employees or a balance sheet total under £5m. There is a two-year rule for a business that breaches a threshold in one exceptional year.

Smaller Aldermore clients usually keep the Ombudsman, and larger ones lose it, which is the opposite of what most people assume. We lined the Ombudsman’s size test up against Aldermore’s own turnover positioning to check. A business at the £750,000 guideline, or in the £500,000 to £750,000 band the intermediary channel funds, sits comfortably inside the Ombudsman’s limits, so despite invoice finance being an unregulated product the Ombudsman is very likely still open to you. It is the mid-market client above £6.5m turnover who falls out of FOS and into the UK Finance route. Work out which side of that line you are on now, rather than at the point you need it. Where the Ombudsman does take a case, its award limit is £455,000 for complaints referred on or after 1 April 2026 about acts or omissions from 1 April 2019.

Aldermore vs the Alternatives

Because none of the established invoice financiers publishes a rate card, a price comparison here would be invention, and we are not going to manufacture one. What we can compare honestly is structure: how the facility is shaped, who does the chasing, how much of the ledger you commit and how you get out. Those differences decide more than a few basis points ever will.

Aldermore vs Bibby Financial Services

Bibby Financial Services is the closest direct comparison, and the one readers most often make. Both are established, relationship-led, whole-ledger financiers offering factoring and discounting with bad debt protection available. The visible difference is in how they present the advance: Bibby splits it by product, publishing up to 85% on factoring and up to 95% on invoice discounting (checked 25 August 2026), where Aldermore applies a flat 90% ceiling to both. On paper Bibby looks better for a business with its own credit control and worse for one without, but since both providers set your actual prepayment percentage individually, the published maxima are a starting point for a conversation rather than a comparison you can bank.

Bibby’s sector specialisation runs deeper, particularly in construction and recruitment, where it offers dedicated products. Aldermore funds both sectors and names construction contracting and recruitment among its core markets, but structures them within its standard facility rather than as separate propositions. Our guides to invoice finance for construction and invoice finance for recruitment agencies set out what changes in each. If your business has sector-specific billing complexity (applications for payment, stage certificates, timesheet-driven invoicing), that specialisation is worth weighing. Our Bibby Financial Services review covers its terms in the same detail as this page.

Aldermore vs a High-Street Bank Facility

The high-street banks run large invoice finance operations and can be competitive on price for a strong, uncomplicated ledger, particularly where you already bank with them. What you tend to trade is flexibility and attention. Aldermore’s proposition is built on the opposite bet: a named relationship manager, an annual facility review, and an underwriting approach that looks at the business rather than at a scorecard.

Our comparison of UK invoice finance companies covers where each type of lender is strongest. That matters most in the situations where a facility earns its keep: a customer concentration that a scorecard rejects, a turnaround, an acquisition, a year where the accounts look worse than the business does. It matters least when your ledger is clean, diverse and boring, which is exactly when a bank facility will price keenly. Be honest about which of those describes you.

Aldermore vs Digital-First Invoice Finance

A newer group of providers (Kriya and Novuna Business Cash Flow among them) funds selectively, one invoice or a chosen handful, through an online application with no relationship manager and no whole-ledger commitment. The structural gap between them and Aldermore is the widest on this page, and it is not really about price.

Aldermore’s agreement assigns the whole book. Its General Conditions apply to all debts due by customers in an approved country other than excluded debts, and you assign every debt outstanding at the commencement date plus every debt arising afterwards until the agreement ends. Approved currencies are sterling, euro and US dollars. That is a structural commitment, and it comes with a minimum period and a notice period attached. What you get for it is scale, continuity and a facility that grows automatically with your sales.

Selective funding gives up the scale and the credit control and keeps the optionality. If your cash-flow problem is two large invoices a quarter rather than a permanent working-capital gap, the whole-ledger model is the wrong shape and its minimum service fee will punish you for the quiet months. Our guide to selective invoice finance sets out where that line falls.

Which Type of Provider Is Likely to Suit You

Verdict: Should Your Business Use Aldermore?

For an established B2B business with a real sales ledger and a permanent cash-flow gap, Aldermore is a credible choice and, on the evidence we can source, an unusually straight one. The 90% advance ceiling is stated plainly on both products, the 24-hour funding claim is properly scoped to invoices on a live facility, the setup range is given as a range rather than a promise, and the security position (debtors as standard, anything else discussed individually) is more conservative than the terms many reviewers, including this one previously, have attributed to it. The E3 portal and the named relationship manager are the parts existing clients seem to value, and the annual facility review is a genuine feature rather than a formality.

The reason I would hesitate is not the product; it is that you cannot evaluate the product without applying. Nothing about the price is published, and unlike most of its competitors Aldermore does not even publish an indicative range. That is defensible for a lender that underwrites individually, but it puts the entire comparison burden on you, and it means the first genuinely comparable number arrives after you have spent several weeks getting to an offer letter. Budget the time, and run at least one other provider in parallel so the offer letter has something to be measured against.

Aldermore suits you if you are turning over roughly £500,000 or more, selling on credit to other businesses, and want a permanent facility with a person attached to it, particularly if you have customer concentration that a scorecard would reject, assets beyond the debtor book, or no credit control function of your own.

Look elsewhere first if you want to fund invoices occasionally rather than continuously, if you need a firm price before investing time, if you are not trading yet or sit below the turnover Aldermore will discuss, or if a fixed short term matters more to you than facility size.

Before you sign anything, get the five contract terms above in writing, model the all-in cost on your own average drawn balance rather than on your turnover, confirm the concentration cap against your largest customer, and be clear that Bad Debt Protection is capped, conditional cover on the customers you nominate, not a way of making the facility non-recourse.

Frequently Asked Questions

How much of an invoice can Aldermore advance?

Up to 90% of the invoice value, on both invoice factoring and invoice discounting. The remaining balance is released once your customer pays, less Aldermore’s charges. The 90% is a ceiling applied to approved debt within your customer funding limits, not a guaranteed advance on every invoice.

What is the minimum turnover for Aldermore Invoice Finance?

Aldermore gives £750,000 as a general rule on its customer pages, and its factoring and discounting pages say turnover is “typically above” that figure. It is a guideline rather than a hard cut-off, and Aldermore’s intermediary material states it can also fund SMEs in the £500,000 to £750,000 range.

Can Aldermore consider businesses between £500,000 and £750,000 turnover?

Yes. Aldermore’s invoice finance page for intermediaries states: “We can fund SMEs with a turnover of £500k to £750k across a wide range of sectors.” If you are in that band, approaching through a broker is sensible, since that is the channel where Aldermore states the criterion.

Does Aldermore publish its invoice finance fees?

It publishes the structure but not the rates. Aldermore states that the main charges are a service fee, calculated as a percentage of invoice value, and a discount fee, calculated on the balance advanced, and that an arrangement fee normally applies. The actual percentages come in your facility offer letter. Aldermore does publish a tariff of fixed standard charges in its General Conditions of Invoice Finance.

What fees can appear in an Aldermore invoice finance agreement?

Aldermore’s published General Conditions list a service fee, a minimum service fee, a discount fee, a facility fee, a facility renewal fee, an extended service fee on invoices outstanding beyond an agreed period, disbursements, charges for services outside the agreement’s scope, an early termination payment, and VAT where applicable. Separately, a published tariff sets fixed charges including £30 for a CHAPS payment, £50 for a breach letter, £200 for non-compliance and £500 for an unscheduled sales ledger audit. Which of these applies to you is settled in your own agreement.

How quickly can Aldermore set up an invoice finance facility?

Aldermore’s published range is a few days to a few weeks, depending on the facility and the business. It does not commit to a tighter figure, and the variable is usually how quickly your sales ledger data can be verified and customer funding limits set.

How quickly are invoices funded once the facility is live?

Typically within 24 hours of submitting the invoice, which Aldermore states consistently across its invoice finance, factoring and discounting pages. Same-day payment by CHAPS is available and carries a £30 charge under the published tariff.

Does Aldermore require a personal guarantee?

Not as a published standard requirement. Aldermore says it takes security over your debtors and that any other security requirement is discussed individually. The only place it publishes a guarantee policy is the Growth Guarantee Scheme, where guarantees can be taken at its discretion, and where a principal private residence cannot be taken as security. Ask directly what your facility is conditional on.

What security does Aldermore take?

Security over your debtor book, as standard. Its General Conditions provide for the assignment of all your debts, present and future, with full title guarantee. Anything beyond that is assessed case by case, and Aldermore says it will be “discussed with you and presented transparently”.

Can sole traders use Aldermore Invoice Finance?

Aldermore publishes no restriction by legal form on its current invoice finance pages, and its General Conditions include conditions written for partnerships and for sole traders. We found no published statement that either is excluded from standard invoice finance, and no published statement confirming acceptance. If legal form is relevant to your application, put the question to Aldermore before you invest time in it.

Is Aldermore factoring disclosed to customers?

Usually, yes. Aldermore says factoring facilities are “predominantly provided on a disclosed basis”, because its credit control team collects payment from your customers directly. If confidentiality matters, invoice discounting is the product to ask about.

Is Aldermore invoice discounting confidential?

Yes. Aldermore states that a discounting facility is confidential and that it will not contact your customers on your behalf. You keep the collections, and your customers need not know a financier is involved.

What happens if an Aldermore-funded customer does not pay?

On a standard facility Aldermore can exercise recourse and recover the advance, either by written notice or by debiting your current account. Its General Conditions allow recourse where the invoice is disputed (valid or not), where an approved debt becomes disapproved, where a debt is still outstanding at the end of the recourse period or the customer becomes insolvent, and where one customer owes more than 25% of your total outstanding debt beyond that period.

Is Bad Debt Protection the same as non-recourse factoring?

No. Bad Debt Protection covers up to 95% of qualifying debt excluding VAT, above £500, on customers you nominate, within an agreed protection limit, and only for customer insolvency or protracted default, defined as non-payment within 180 days of the due date. Aldermore states expressly that it is not insurance. Recourse still operates on disputes, limit breaches, ageing and termination, none of which Bad Debt Protection removes.

Can I leave an Aldermore invoice finance contract early?

Yes, but it is charged. The agreement runs for a minimum period, after which either side can end it on the notice period stated in your agreement. Leaving before that point triggers an early termination payment, calculated for each month you cut short at the monthly average of your discount margin plus service fees and any extended service fees over the previous six months. Neither the minimum period nor the notice period is published, so both are negotiating points.

Is Aldermore Invoice Finance regulated by the FCA?

The bank is; the facility generally is not. Aldermore Bank PLC is authorised by the PRA and regulated by the FCA and PRA under Financial Services Register number 204503. Aldermore’s own disclosure states that invoice finance lending to limited companies is not regulated by either. There is also no FSCS cover for a lending facility: the scheme protects deposits, up to £120,000 per eligible depositor.

Where can I complain about Aldermore Invoice Finance?

Start with Aldermore’s Complaints Officer, on 0118 2075045 or at complaints@aldermore.co.uk. If you are unhappy with the final response you have six months to escalate. Smaller businesses can usually go to the Financial Ombudsman Service, which accepts complaints from businesses with turnover under £6.5m that also have fewer than 50 employees or a balance sheet total under £5m. Where an invoice finance client is not eligible, Aldermore names UK Finance as the alternative dispute resolution route and says it will confirm this in its final response letter.

How We Reviewed Aldermore Invoice Finance

Every factual claim on this page was checked against a primary source on 25 August 2026. Where a claim could not be sourced, we removed it rather than softened it, and where Aldermore’s own pages disagree with each other we have shown the disagreement instead of picking a side.

Aldermore’s current product and policy pages supplied the advance rate, funding speed, setup range, turnover guidance, product definitions, charging structure, security position, contract negotiability, Bad Debt Protection specification, Growth Guarantee Scheme terms, regulatory status and complaints process: the invoice finance and FAQ pages, factoring, invoice discounting, asset-based lending, Bad Debt Protection, the Growth Guarantee Scheme page, the intermediary invoice finance page and the complaints process.

Aldermore’s published General Conditions of Invoice Finance supplied the contractual layer: the availability calculation, customer funding limits, concentration and export percentages, reserves, the full fee list, the daily accrual of the discount fee, the definition of the reference rate, the early termination formula, the recourse triggers, the remittance mechanics, the Bad Debt Protection definitions and the published tariff of standard charges. This is a standing published document setting out what an agreement can contain. It is not your agreement, and your own IF Agreement states which conditions apply to your facility.

Independent and authoritative sources supplied everything that is not Aldermore’s to define: UK Finance for the IF/ABL Standards Framework and its member directory for Aldermore’s membership; the Financial Ombudsman Service and FCA Handbook for eligibility thresholds and the £455,000 award limit; the Bank of England for Bank Rate, held at 3.75% in the decision published 30 July 2026; Trustpilot for the customer rating; and Bibby Financial Services’ own product pages for the comparison figures.

What we removed, and why. This update retracted a number of claims the previous version carried: a 0.25%–3% service fee band and a 1.5%–3% discount margin, neither of which Aldermore publishes; £750,000 as a hard minimum turnover; sole traders and partnerships being restricted to the Growth Guarantee Scheme; a 50% trading-income test presented as standard eligibility, when it belongs to that scheme; a standard debenture and directors’ personal guarantee; Bad Debt Protection making the facility effectively non-recourse; a fixed seven-document application pack; a one-to-three-week setup; a 12–24 month initial contract term; funds settling into a “trust account”; and a set of customer-review themes attributed to invoice finance clients that the public review data does not support. Receivables Finance has also been dropped from the product list: Aldermore has published literature on it, but it does not appear among the invoice finance products on its current customer or intermediary pages.

What is illustrative rather than sourced. The worked cost example is a BusinessExpert calculation using assumed rates, clearly labelled on the page, and is not an Aldermore quotation. Aldermore publishes no service fee percentage, discount margin, minimum fee, arrangement fee, renewal fee or Bad Debt Protection charge, and we have not filled those gaps with market averages.

Pricing structure checked 25 August 2026: exact rates are quote-based. Product facts, eligibility, Growth Guarantee Scheme terms and the customer review score were each checked on the same date.

Commercial disclosure. We have no affiliate relationship with Aldermore, and Aldermore pays us nothing for this review. The Tide Funding Options links on this page are affiliate links: if you use one to gather quotes, we may earn a commission, at no cost to you. That income does not change what this review says. See our editorial policy.

Related Guides

Aldermore is one route into invoice finance, and this review deliberately stops at the edge of the provider. These cover the decisions either side of it.

Choosing between the products

• Invoice finance explained: how the whole category works, and when it beats an overdraft or a term loan.
• Invoice factoring vs invoice discounting: the credit-control and confidentiality trade-off that decides which Aldermore product you should be quoted for.
• Invoice factoring and invoice discounting: each product end to end, independent of any one lender.
• Selective invoice finance and spot factoring: the alternatives if Aldermore’s whole-ledger commitment is the wrong shape for your cash-flow gap.

Understanding the risk before you sign

• Recourse vs non-recourse invoice finance: who carries the loss when a funded customer fails, and why Bad Debt Protection is not the same thing.
• Working capital finance: where invoice finance sits against the other ways of funding the gap between paying suppliers and being paid.

Comparing providers

• Best invoice finance companies: the wider market, compared on eligibility, advance rates, contract commitment and pricing transparency.
• Bibby Financial Services review: the closest direct comparison to Aldermore, reviewed to the same evidence standard.
• Kriya review and Novuna Business Cash Flow review: the digital-first end of the market, where funding is selective rather than whole-ledger.
• Time Finance review: another established UK financier working in the same mid-market space.

If your sector changes the answer

• Invoice finance for construction: applications for payment, stage certificates and CIS deductions all change what actually reaches your account.
• Invoice finance for recruitment agencies: why the funding week runs backwards from payroll, and what that demands of a facility.