Lloyds Shelves Invoice Financing as Small Businesses Shift Away

Lloyds to Cease Invoice Financing Services According to FT Reports

A significant shift in Lloyds’ financial services strategy amid changing market conditions. Highlights: Lloyds Bank plans to shut its invoice financing services. The decision signals a shift in the bank’s financial strategies. Market dynamics are influencing the move away from this service. FT Reports highlight significant changes in Lloyds’ offerings. Lloyds Bank is set to discontinue its invoice financing services, as reported by the Financia…

Lloyds Shelves Invoice Financing as Small Businesses Shift Away

British bank Lloyds is reportedly ending its small-business-focused invoice financing program. The factoring program will close by the year’s end, the Financial Times (FT) reported Sunday (Dec. 28), citing two sources familiar with the matter. The report characterizes the move as a blow to Lloyd’s smaller business clients, though one source said the bank’s factoring programs were used by under 1% of those customers. At the same time, a…