Source: Financial Times [UK]
“Lloyds Banking Group is shutting an invoice financing service for small business customers as the UK’s biggest lenders pivot to focus on more lucrative corporate clients. The UK’s biggest high street bank will close its invoice factoring service by the end of the year, according to two people familiar with the matter, in a blow to small enterprise customers operating on thin margins. The move to end the service, under which Lloyds buys unpaid invoices from small businesses in return for the right to receive the payments from their customers, follows similar closures by other top lenders. It comes as businesses confront rising costs after increases in the minimum wage and successive tax-raising budgets by chancellor Rachel Reeves.” (12/28/25)