Head to head
Close Brothers vs Sonovate: Which UK Business Finance Provider in 2026?
Independent, side by side. Rate, ticket band, decision speed and eligibility compared for UK limited companies and LLPs.
Start here · What do you need?
Sonovate is the stronger all-round pick in our reviews, but Close Brothers wins on specific files. Sonovate offers embedded finance and contractor pay funding for recruitment and consultancy agencies (ticket range: Not published; rate: Not published, quoted at offer); Close Brothers offers asset finance, invoice finance, commercial loans (ticket range: £25k to £25m+; rate: Bespoke, quoted at offer). The right answer depends on ticket size, trading history and sector. Close Brothers beats Sonovate for established SMEs needing asset or invoice finance. Read the side-by-side, then jump to the "When Sonovate wins" and "When Close Brothers wins" sections for the buyer-fit logic.
Source: FundBiz methodology. Editorial by Best Business Loans Ltd (16833937).
Close Brothers, at a glance
- Product
- Asset finance, invoice finance, commercial loans
- Ticket range
- £25k to £25m+
- Typical rate
- Bespoke, quoted at offer
- Decision time
- 5 to 14 business days
- FundBiz editorial view
- Wins on specific files; best for established SMEs needing asset or invoice finance
Sonovate, at a glance
- Product
- Embedded finance and contractor pay funding for recruitment and consultancy agencies
- Ticket range
- Not published
- Typical rate
- Not published, quoted at offer
- Decision time
- Not published
- FundBiz editorial view
- Stronger all-round; best for UK recruitment agencies
Side-by-side
Full profiles: Close Brothers · Sonovate
| Compared on | Close Brothers | Sonovate |
|---|---|---|
| Product type | Asset finance, invoice finance, commercial loans | Embedded finance and contractor pay funding for recruitment and consultancy agencies |
| Ticket range | £25k to £25m+ | Not published |
| Typical rate | Bespoke, quoted at offer | Not published, quoted at offer |
| Decision time | 5 to 14 business days | Not published |
| Soft search at quote | No (hard search) | No (hard search) |
| Ltd-only? | No | Yes |
Sources: Close Brothers's own site · Sonovate's own site. Figures change; confirm with the lender before you rely on one.
FundBiz enquiries are for limited companies, LLPs and partnerships with four or more partners. Some lenders on this page also accept other business types; we do not arrange those and do not recommend a lender on that basis.
When Close Brothers wins
- 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.
Best for
Established SMEs needing asset or invoice finance, Print, transport, manufacturing, motor trade, Broker-introduced deals.
Watch outs
- Broker-distributed, not self-serve.
- Headline rates not published; quoted at offer.
- Slower than fintech alternatives.
When Sonovate wins
- Built for recruitment and consultancy economics; better fit than generic IF.
- Pays contractors weekly while extending agency credit terms to clients.
- Software automates timesheets, invoicing and credit control.
- Direct lender plus platform; no separate factoring relationship.
Best for
UK recruitment agencies, Management consultancies billing on time-and-materials, Contingent-labour businesses with weekly contractor pay.
Watch outs
- Sector-locked; useless to businesses outside recruitment, consultancy or contingent labour.
- Pricing is fee plus margin, not a single APR.
- Hard credit search at full application.
FAQ
Close Brothers or Sonovate: which is the better UK business finance provider in 2026?
Sonovate is our stronger all-round pick in our reviews, but the right answer depends on what your file looks like. Close Brothers is the stronger pick for established SMEs needing asset or invoice finance, while Sonovate is the stronger pick for UK recruitment agencies. If your file sits in one of those buckets, pick the right fit rather than the headline. See our /methodology/ for how we assess each lender.
What does each product look like, Close Brothers vs Sonovate?
Close Brothers offers asset finance, invoice finance, commercial loans (ticket range: £25k to £25m+; rate: Bespoke, quoted at offer; decision time: 5 to 14 business days). Sonovate offers embedded finance and contractor pay funding for recruitment and consultancy agencies (ticket range: Not published; rate: Not published, quoted at offer; decision time: Not published).
Close Brothers runs a hard credit search at full application. Sonovate runs a hard credit search at full application. Verify live commercials before signing because lender pricing moves and bespoke rates are common above £100k tickets.
Which is weakest for what?
Close Brothers is the wrong answer for self-serve sub-£25k. Sonovate is the wrong answer for product or e-commerce businesses. If either of those describes your file, look at the side-by-side table for the alternative, or read our other lender reviews.
Can FundBiz help with Close Brothers or Sonovate?
FundBiz is not a lender and is independent of both. This comparison and our lender reviews are editorial research to help you decide which to approach. FundBiz doesn't send enquiries to lenders. If you send an enquiry through FundBiz, we pass it to a business finance broker, who will contact you about your options.
Who can send an enquiry through FundBiz?
The FundBiz enquiry form is for limited companies, LLPs and partnerships with four or more partners. Eligibility for Close Brothers and Sonovate is set by each lender, and trading history requirements vary, so check each lender's own criteria.
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How we ranked these lenders
Every lender is scored on the same four FundBiz criteria: pricing transparency, eligibility clarity, decision speed and treatment of declined applicants. Scores are our own desk-research assessment built from the FCA Register, Companies House filings and each lender's published product sheets, not customer reviews and not hands-on product testing. Each comparison shows the date it was last updated. Inclusion is never paid for, and FundBiz receives no commission from lenders. FundBiz is paid a fixed fee by a business finance broker for each enquiry we pass on. See our full methodology.
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