Lender review · Asset finance, invoice finance, commercial loans

Close Brothers

Name: Close Brothers
Brand: Close Brothers

4.2 / 5 £25k to £25m+ · 5 to 14 business days ·FCA regulated

Heritage merchant banking group trading since 1878, FTSE-listed via Close Brothers Group plc. The commercial division covers asset finance, invoice finance and broader commercial lending. Broker-distributed; relationship-led underwriting for established UK SMEs and corporates.

Oliver Mackman

Director, BestBusinessLoans

Oliver leads BestBusinessLoans's editorial reviews and methodology. With a background in UK commercial finance, he oversees lender research, rate verification and review independence.

Last reviewed: 8 May 2026

At a glance

Product: Asset finance, invoice finance, commercial loans
Ticket size: £25k to £25m+
Typical rate: Bespoke, quoted at offer
Decision time: 5 to 14 business days
Soft search at quote: No
Limited companies only: No
FCA regulated: Yes (check the FCA Register)
Companies House: 00195626
Founded: 1878

Scores against our methodology

Rate transparency4/5
Eligibility clarity4/5
Decision speed3/5
Decline handling4/5

Full methodology.

How Close Brothers works

Close Brothers operates as a asset finance, invoice finance, commercial loans provider in the UK SMB market. Heritage merchant banking group trading since 1878, FTSE-listed via Close Brothers Group plc. The commercial division covers asset finance, invoice finance and broader commercial lending. Broker-distributed; relationship-led underwriting for established UK SMEs and corporates.

The product mechanic is straightforward in shape but the underwriting is sector-specific. Tickets sit in the £25k to £25m+ band, decisions land within 5 to 14 business days, and the published rate range is Bespoke, quoted at offer. A hard search may apply at quote stage; ask before you submit if credit-file footprint matters to you. Close Brothers is FCA regulated.

Where Close Brothers fits best: established smes needing asset or invoice finance, print, transport, manufacturing, motor trade, broker-introduced deals. Where it does not fit: self-serve sub-£25k, sole traders without asset security, speed-prioritised cases.

Pricing examples

Worked examples using Close Brothers's published rate range (Bespoke, quoted at offer). This lender prices by factor rate or bespoke quote, so we show the structure, not a worked APR.

Ticket	Term	Estimated total cost	Approx monthly
£25,000	24 months	See lender quote	See lender quote
£50,000	36 months	See lender quote	See lender quote
£100,000	48 months	See lender quote	See lender quote

Indicative only. Confirm on a Close Brothers quote.

Eligibility

Trading time: typically 12 to 24 months minimum for the cleanest pricing.
Turnover floor: not always published. As a working figure, expect a £100k+ turnover requirement for term loans of £50k+. Smaller tickets and MCA structures have lower floors.
Sector exclusions: Self-serve sub-£25k; Speed-prioritised cases.
Credit profile: Clean credit preferred; older satisfied items often acceptable.
Company structure: Limited companies and (in some cases) sole traders / partnerships.
Best fit: Established SMEs needing asset or invoice finance; Print, transport, manufacturing, motor trade; Broker-introduced deals.

Pros

+ Genuine UK merchant bank with 145+ years of trading history.
+ Multiple product lines under one underwriter (asset, invoice, commercial loans).
+ Strong sector specialisms in print, transport, manufacturing and motor trade.
+ PRA-regulated; FSCS deposit protection on linked savings products.

Cons

− Broker-distributed, not self-serve.
− Headline rates not published; quoted at offer.
− Slower than fintech alternatives.
− Engagement below £25k unlikely outside existing relationships.

Best for

· Established SMEs needing asset or invoice finance
· Print, transport, manufacturing, motor trade
· Broker-introduced deals

Weak at

· Self-serve sub-£25k
· Sole traders without asset security
· Speed-prioritised cases

When to use Close Brothers

Use Close Brothers when

Your application matches the best-fit profile: established smes needing asset or invoice finance, print, transport, manufacturing, motor trade, broker-introduced deals. The published ticket range (£25k to £25m+) covers your ask, the decision speed (5 to 14 business days) fits your cash-gap timeline, and the rate range (Bespoke, quoted at offer) is acceptable to you given your credit profile.

Do not use Close Brothers when

Your profile sits in the weak-at list: self-serve sub-£25k, sole traders without asset security, speed-prioritised cases. Close Brothers will likely decline, and the decline itself can sit on broker records for 90 days. If you have any of these flags, route directly to a specialist (post-decline lender, MCA against card flow, asset-backed alternative) rather than using Close Brothers as a screen.

FAQs

What is the minimum trading time for Close Brothers?

Close Brothers typically asks for 12 to 24 months of trading. Newer businesses can sometimes qualify against alternative underwriting (card flow for MCA, asset security for asset finance), but the cleanest pricing tends to require two full sets of accounts.

Does Close Brothers require a personal guarantee?

Most UK SMB lenders require a personal guarantee from at least one director. Close Brothers is no exception in the standard case. The few exceptions: asset-backed lending where the asset itself stands as security, and a small number of MCA structures where card flow is the underwriting basis. For asset finance, invoice finance, commercial loans specifically, expect a PG to be requested.

How fast does Close Brothers fund?

Close Brothers quotes 5 to 14 business days for an underwriting decision. Funding to bank account typically follows within one to three working days of acceptance, subject to KYC, signed documents, and (where applicable) registration of any debenture or charge.

What rate should I expect from Close Brothers?

Close Brothers's published range is Bespoke, quoted at offer. The headline number is rarely the offered number. Rate transparency on this lender scores 4/5 in our methodology. Expect the cleaner end of the band only if you have 2+ years of trading, clean credit, and turnover comfortably above the lender's stated floor.

What happens if Close Brothers declines me?

If Close Brothers declines, you have three realistic next steps. First, ask for the decline reason in writing, most reputable UK lenders will tell you. Second, route the application to a specialist post-decline lender (Bizcap, JPM Capital, Bolton Finance) where credit issues are the constraint, or to an asset-backed alternative where security is available. Third, use a broker panel to fan the application across the lenders most likely to accept your specific decline reason. Close Brothers scores 4/5 on decline handling in our methodology.

Where to apply

Apply directly via www.closebrothers.com/our-businesses/commercial, or use our free quote form to be matched across the UK broker panel most likely to approve your specific profile, not just Close Brothers.

Specialty alternatives

See all lender reviews for alternatives.

Close Brothers compared head-to-head

Side-by-side breakdowns of rate, ticket band, decision speed, eligibility and best-fit for UK SMEs.

Reviewed by Oliver Mackman, Director. Last reviewed: 8 May 2026. Lender website: www.closebrothers.com/our-businesses/commercial.