Quick summary

Yes — in most cases you can move from your current invoice finance provider.Get a Free Eligibility Check.

Summary benefits: faster quotes, tailored matches to lenders/brokers who specialise in invoice finance, and help understanding steps like novation, assignment or charge release.

Quick answer

To the questions you may be asking — “Can I move/switch/transfer from my current invoice finance provider?” — the short answer is: Yes, UK Business Loans can help you explore switching your invoice finance provider. We take a few details about your business and match you to appropriate lenders or brokers who can assess your situation and present alternatives. If you decide to proceed with a provider they will handle the formal transfer steps with your existing supplier.

Free Eligibility Check — quick and no obligation.

Why businesses choose to switch invoice finance

Companies switch invoice finance providers for many practical reasons. Common drivers include:

• Better pricing: lower fees, improved discount rates or smaller reserve requirements.
• Higher advance rates: a larger percentage of invoice values released up front improves cash flow.
• Different product type: moving from recourse to non-recourse factoring, or from invoice factoring to invoice discounting or spot factoring.
• Sector expertise: a provider with experience in your industry (construction, manufacturing, agencies) can manage debtors more effectively.
• Improved service or technology: better online portals, debtor management, or customer support.
• Need to increase facility size: your growth requires a bigger limit than your current provider offers.

Example: a medium-sized manufacturer switched to a specialist funder who offered non-recourse options and a higher advance rate; the switch freed working capital and reduced administration time.

How UK Business Loans helps you switch — step by step

We make switching straightforward by acting as a focused introducer. Here’s the typical process:

1. Complete a short enquiry: tell us basic business details and the type/size of invoice finance you need. This takes under two minutes. Get Started Free Eligibility Check.
2. We match you: we introduce your enquiry to lenders and brokers in our network who specialise in invoice finance and are likely to suit your sector and requirements.
3. Receive contact & quotes: matched partners will contact you to review documents and offer indicative quotes and options for transfer or novation.
4. Compare and choose: you review the proposals and pick the best fit. UK Business Loans does not decide or recommend — you do.
5. Provider handles transfer: your chosen broker or lender will work with your existing provider to arrange a transfer, novation or discharge of security as needed.

Who does what: UK Business Loans introduces only. Brokers or lenders we introduce will manage credit checks, legal paperwork and the formal exit/transfer process.

Typical initial contact is often within 24–72 hours; a full transfer usually takes 1–6 weeks depending on complexity.

Get Quote Now — free, no obligation.

Things to check before switching (practical checklist)

Before you commit, check the following so you are not surprised by hidden costs or operational issues:

• Notice period & exit fees: your current agreement may include a notice period or termination costs.
• Outstanding commissions: any broker commission or early termination payments due to the existing provider.
• Security and charges: is there a debenture, fixed charge or other security registered at Companies House that must be released?
• Debtor notifications: will your customers be notified of the change and how will that be handled (confidential discounting vs disclosed factoring)?
• Assignment & novation: some lenders will novate contracts; others will require assignment of debts — each has different paperwork and timings.
• VAT & accounting treatment: ensure your accountant is aware of any change that affects bookkeeping.

If you have complex security, multiple lending facilities, or the business is near distress, consider getting specialist legal or insolvency advice before switching.

Eligibility & documentation lenders typically ask for

Most invoice finance providers want basic business information and paperwork to make an initial assessment. Typical items include:

• Recent annual accounts and management accounts (3–12 months).
• Aged debtor ledger and sample invoices showing typical debtor profile.
• Bank statements (usually last 3–6 months).
• Details of major customers and contract terms (to assess concentration risk).
• Information about existing facilities and security documents.
• Proof of ID for company directors and beneficial owners.

Credit profile: many funders will consider businesses with past credit issues, but the terms and availability vary. Matched brokers can identify funders that specialise in tougher credit scenarios.

Free Eligibility Check — submit a short enquiry and start the conversation.

Costs, timescales & what switching may involve

Costs to expect:

• Exit/termination fees: charged by your current provider in some contracts.
• Legal fees: where charges need to be released or security re-documented (may be payable by you or the new funder).
• Set-up fees: new facility arrangement fees, onboarding or admin charges.
• Ongoing fees: discount rate, service fee, admin fee, and reserve or minimum monthly charges.

Timescale examples:

• Simple transfer: 1–4 weeks (adequate documentation, low security complexity).
• Complex transfer: 4–12+ weeks (release of registered charges, multiple lenders, detailed legal novation).

Brokers often negotiate to reduce double charges (for example, offsetting some exit costs against new set-up fees) — this is part of why comparing multiple offers matters.

FAQs

Can I move from my current invoice finance provider with UK Business Loans?

Yes — we introduce your enquiry to lenders and brokers who can assess whether a transfer or switch is practical for your business and provide quotes for comparison.

Is it possible to switch from my current invoice finance provider through UK Business Loans?

Yes. After you complete our short enquiry, matched partners will contact you to discuss exit costs, transfer steps and likely timelines.

Can I change my existing invoice finance provider via UK Business Loans?

Yes — you can explore alternative providers via our introductions. Any formal change is handled by the lender or broker you instruct.

Can UK Business Loans help me switch from my current invoice finance provider?

Yes. We match you with appropriate lenders/brokers who specialise in switching and novation processes; we do not execute the finance transaction ourselves.

Can I transfer from my current invoice finance provider using UK Business Loans?

Yes — many businesses use our service to find a new funder and then transfer facilities. The practicalities depend on your contract and security arrangements.

Will switching affect my customers?

Usually customers are only contacted where the factoring arrangement is disclosed; confidential discounting may not require customer notification. Your chosen lender/broker will explain the required approach.

Will switching affect my credit score?

Submitting an enquiry via UK Business Loans does not affect your credit score. Lenders may carry out formal credit checks only if you progress to an application.

Get Quote Now — compare offers and choose the best fit.

Trust, privacy and important notes

UK Business Loans is an introducer. We do not provide loans or regulated financial advice — we connect businesses with lenders and brokers who can provide finance. Any finance offered is subject to the lender or broker’s terms, checks and documentation.

Privacy: when you submit an enquiry you agree that your details may be shared with selected lenders and brokers in our network so they can contact you about finance options. See our Privacy Policy for full details.

Minimum facility size: our partners typically consider invoice finance facilities from around £10,000 upwards. If you’re ready, start your free eligibility check.

Ready to explore switching your invoice finance?

Complete a short enquiry and we’ll match you to lenders and brokers who can provide tailored quotes and explain the transfer process. It’s free, quick and there’s no obligation.

Get Started — Free Eligibility Check

Want to learn more about invoice finance products and options? Read our detailed guide on invoice finance to understand product types and what suits your business — or submit an enquiry and we’ll connect you with specialists who can advise on your situation.

Note: this page includes a link to information on invoice finance for reference: invoice finance.