Novuna Business Finance vs Ultimate Finance: UK Invoice Finance Comparison 2026
Ultimate Finance edges this one in our 2026 UK review at 4.3 of 5 against 4.2 for Novuna Business Finance. Both are UK independent invoice finance providers, freer than banks on covenants and faster on decisioning. The difference is sector specialism, headline rate and minimum turnover floor. Novuna Business Finance advances up to 90% with setup in 7 working days; Ultimate Finance advances up to 90% with setup in 3 working days. Novuna Business Finance still wins where £500k-£10m turnover ltd companies matters more than the headline score. Read the side-by-side, then check the "when X wins" sections for the buyer-fit logic.
Side-by-side
| Novuna Business Finance | Ultimate Finance | |
|---|---|---|
| Cluster | independent | independent |
| Product type | Invoice finance, asset finance, vehicle finance | Invoice finance (factoring, CID), bridging, asset finance |
| Min turnover | £500k | £100k |
| Advance rate | Up to 90% | Up to 90% |
| Typical fee | 1% to 2.5% service charge | 1.5% to 3.5% service charge |
| Contract / commitment | Whole-ledger or selective | Whole-ledger or selective |
| Confidential available? | Yes | Yes |
| Factoring available? | Yes | Yes |
| Setup speed | 7 working days | 3 working days |
| Best for | £500k-£10m turnover Ltd companies; Cross-product (IF + asset) facility seekers; Stable mid-market funders | SME urgent setup; Multi-product facility seekers; Hybrid IF + bridging needs |
| Overall rating | 4.2 / 5 | 4.3 / 5 |
| Last reviewed | 2026-05-12 | 2026-05-12 |
When Novuna Business Finance wins
- Mitsubishi-backed balance sheet stability.
- Multi-product cross-sell (IF + asset + vehicle).
- Mid-market panel relationships strong.
- Established 1981, deep UK presence.
Best for
£500k-£10m turnover Ltd companies, Cross-product (IF + asset) facility seekers, Stable mid-market funders.
Watch outs
- Pricing not aggressively published.
- Slower decisioning than fintech.
- Less competitive on £100k-£500k turnover SME.
When Ultimate Finance wins
- Setup in 3 working days, market-leading for full credit underwriting.
- SME-friendly: £100k turnover floor.
- Multi-product (IF + bridging + asset) under one decision team.
- Flexible on industry, including some construction and recruitment.
Best for
SME urgent setup, Multi-product facility seekers, Hybrid IF + bridging needs.
Watch outs
- Service charge rate higher than Close Brothers or Aldermore.
- Smaller deal-team than Bibby.
- Less competitive on £5m+ facilities than mid-market specialists.
FAQ
Novuna Business Finance or Ultimate Finance: which is the better UK invoice finance provider in 2026?
Ultimate Finance scores higher overall in our 2026 review at 4.3 of 5 versus 4.2 for Novuna Business Finance. That headline does not settle the answer though. Novuna Business Finance is the stronger pick for £500k-£10m turnover ltd companies; Ultimate Finance is the stronger pick for sme urgent setup. If your business fits one of those use cases, ignore the rating and pick the right fit.
What are the headline commercials, Novuna Business Finance vs Ultimate Finance?
Novuna Business Finance advances up to 90% at 1% to 2.5% service charge. Ultimate Finance advances up to 90% at 1.5% to 3.5% service charge. Minimum turnover is £500k for Novuna Business Finance and £100k for Ultimate Finance. Setup runs 7 working days for Novuna Business Finance and 3 working days for Ultimate Finance. Bespoke pricing is common above £1m ledger so verify before signing.
Can I get a confidential facility with either Novuna Business Finance or Ultimate Finance?
Novuna Business Finance offers confidential invoice discounting (your customers are not notified). Ultimate Finance offers confidential invoice discounting. If your customer relationships make disclosure a non-starter, that determines the answer regardless of headline rate.
Where does each one struggle?
Novuna Business Finance is the wrong fit for lowest-cost seekers. Ultimate Finance is the wrong fit for lowest-cost facility seekers. If either describes your business, browse the side-by-side or get matched against the wider UK panel via our quote form.
Can Market Invoice help me choose between Novuna Business Finance and Ultimate Finance?
Yes. We are an independent UK invoice finance comparison operated by Best Business Loans Ltd (16833937). We are not tied to either provider. Tell us monthly turnover, sector, debtor profile and whether you need the facility confidential. We match you against the UK invoice finance providers most likely to approve at a competitive rate, then stay your editorial reference for life.
Related
Get matched in two minutes
Tell us monthly turnover, sector, debtor profile and whether the facility needs to be confidential. We match you against the UK invoice finance providers most likely to approve at a competitive rate, then stay your editorial reference for life.
Get quotes →Reviewed by Oliver Mackman, Director. Last reviewed: 2026-05-12. Editorial by Best Business Loans Ltd (16833937).