Bank of Ireland Invoice Finance
Bank of Ireland provides invoice finance for mid-market businesses in the UK, with facilities typically starting from £500,000. As one of the largest banking groups in Ireland and the UK, they bring institutional strength and the ability to offer invoice finance alongside a full suite of commercial banking services.
Bank of Ireland provides UK invoice finance for mid-market businesses, with facilities typically from £500,000, advance rates around 85% and service charges from about 0.30%.
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Summary
Bank of Ireland offers UK invoice finance and asset-based lending for mid-market businesses, with facilities typically from £500,000. Advance rates run to around 85% with service charges from about 0.30% and discount charges at base rate plus 2.5%. As one of the largest banking groups in Ireland and the UK, it bundles invoice finance with a full suite of commercial banking services.
This page covers
Bank of Ireland invoice finance minimum facility, advance rate, pricing and mid-market commercial banking fit
Not covered here
Smaller-business invoice finance (see /providers/), general invoice finance education (see /guides/), sector pages (see /industries/)
Key Facts
When Bank of Ireland Invoice Finance Fits
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UK subsidiaries of Irish groups or cross-border traders with ROI suppliers, £2m+ turnover
Bank of Ireland can structure facilities across both jurisdictions and coordinate commercial banking relationships in sterling and euro, offering efficiency multi-currency traders rarely get from UK-only lenders.
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Mid-market manufacturing or wholesale distributors, £5m-£50m turnover, seeking ABL alongside invoice finance
The bank's asset-based lending team can advance against machinery, property and stock as well as receivables, creating a single blended facility that releases more working capital than invoice finance alone.
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Businesses moving from overdraft or seeking to consolidate existing invoice finance with relationship banking
Bank of Ireland underwrites invoice finance in-house and can bundle it with corporate accounts, FX services and term loans, simplifying banking relationships and often improving overall pricing through cross-product deals.
When to Look Elsewhere
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Startups or businesses under £1m turnover needing quick funding
Better fit: Kriya. Kriya offers selective invoice finance from £50k with faster credit decisions suited to earlier-stage growth businesses.
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Contractors or recruitment agencies under £500k facility requirement
Better fit: Sonovate. Sonovate specialises in recruitment and contractor finance with lower minimums and sector-specific debtor ledger systems.
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Businesses wanting confidential discounting under £250k
Better fit: Lloyds Bank Invoice Finance. Lloyds operates invoice discounting from lower thresholds with integrated business current accounts and digital ledger access.
How Bank of Ireland Invoice Finance Compares
| Provider | Type | Min facility | Fee from | Advance to | Speed |
|---|---|---|---|---|---|
| Lloyds Bank Invoice Finance | both | £100k | 0.2% | 90% | 5-7 days |
| Barclays Invoice Finance | both | £250k | 0.25% | 85% | 7-10 days |
| Ultimate Finance | both | £50k | 0.5% | 90% | 3-5 days |
vs Lloyds Bank Invoice Finance: Lloyds has a larger UK SME client base and lower minimums, while Bank of Ireland focuses on mid-market clients needing cross-border or ABL structures.
vs Barclays Invoice Finance: Barclays offers wider sector coverage and integrated trade finance, but Bank of Ireland often prices more competitively for Irish-connected trade and can be more flexible on covenant-light structures.
vs Ultimate Finance: Ultimate serves a broader turnover range with faster decisions, whereas Bank of Ireland targets established mid-market firms and combines invoice finance with full commercial banking relationships.
Worked Example
A Midlands-based engineering components distributor with £8m turnover, supplying UK and Irish manufacturers
Setting Up With Bank of Ireland Invoice Finance
- 1
Initial enquiry and credit review
Contact the Bank of Ireland commercial team via broker or direct. Expect an initial call to review turnover, debtor ledger quality, and whether ABL or cross-border elements apply. You'll submit three years of accounts, recent management accounts, aged debtors report and details of any existing banking facilities.
- 2
Credit committee and facility structuring
The bank's credit team assesses your debtor concentration, sector risk, and any parent or group guarantees. If you need stock or asset advances alongside invoice finance, a surveyor may visit. Turnaround is typically 2-4 weeks for straightforward cases, longer if ABL valuation is required.
- 3
Legal documentation and drawdown
Bank of Ireland's legal team drafts a debenture and facility agreement. You'll register charges at Companies House. Once executed, the bank sets up a designated account and you begin submitting invoices via their online portal or integrated accounting feed. First advances usually release within 48 hours of the facility going live.
FAQs
Does Bank of Ireland offer invoice finance to businesses with no Irish connection?
Yes. While the bank's heritage is Irish, its UK invoice finance operation serves mid-market businesses across England, Scotland and Wales regardless of trade links to Ireland. Cross-border capability is an advantage if you have Irish debtors or suppliers, but it is not a requirement for eligibility.
Can I use Bank of Ireland invoice finance if I already bank elsewhere?
In principle yes, but the bank typically encourages you to consolidate business current account and invoice finance under one relationship. Bundling services often unlocks better pricing and simplified reporting. If you have complex treasury needs or prefer to keep accounts separate, discuss this early in the application process.
What happens if a debtor goes into administration?
Bank of Ireland operates a bad debt protection option (credit insurance) on selected debtors, which you can choose to include in your facility. If uninsured, any prepayment against an insolvent debtor's invoice becomes a liability you must repay to the bank from the reserve account or by offsetting future advances. The bank's credit team monitors debtor health and may adjust advance rates if risk increases.
How does asset-based lending integrate with invoice finance at Bank of Ireland?
The bank can advance against plant, machinery, property and stock as well as receivables within a single ABL facility. An independent valuer assesses non-invoice assets, and the bank applies appropriate advance rates to each category. This structure suits capital-intensive manufacturers or distributors who need more liquidity than invoice finance alone provides, typically releasing an additional 10-30 percent of working capital compared to receivables-only funding.
Our Verdict
Bank of Ireland is a reliable option for mid-market businesses that need the stability of a major bank behind their invoice finance facility. The £500k minimum means this is not for smaller SMEs, but established businesses will benefit from competitive pricing and the convenience of integrating invoice finance with their wider banking relationship.
Director, Market Invoice
Oliver leads Market Invoice's editorial and comparison research. With a background in UK commercial finance, he oversees provider analysis, rate verification, and industry reporting across all verticals.
Last reviewed: 8 April 2026