Broker interview: United Commercial Finance

October 2, 2020
Broker interview: United Commercial Finance

We caught up with United Commercial Finance about the challenges brokers face in the current business finance market, new Government financial support measures and why they choose Satago for invoice finance.

United Commercial Finance are experienced commercial finance brokers based in Newport, South Wales. The company was established six years ago and is made up of four key team members; Jos Patrick, Joe Patrick, Andy Smith and Chris Green.

What’s the secret to your success?

We have over 20 years experience of running our own businesses, so we are lucky to have more real world experience than other brokers. We know first hand how tough running a business can be. We have genuine empathy with all our clients and understand the need for them to have a good broker by their side. Something that we never had when we had our own businesses.

It’s a lonely situation running your own business and sometimes it’s just nice to chat an idea over with someone who understands perfectly.

How do you think recent government measures, including the extension of CBILS and BBLS, will affect the business finance market?

In my experience the government help has so far been vast. Although one major side effect we’ve been seeing has been the high street banks now have no appetite for anything other than for CBILS. These banks are almost a closed shop for new business which I feel is wrong and unhelpful for the economy.

Though it has given the alternative market opportunity to shine.

What are the biggest challenges you see for business owners as we face a second wave of coronavirus?

The government help, such as furlough, cannot go on forever. UK plc would go bankrupt. So I think the challenges will be keeping a secure cashflow and profitability when demand could drop and safety measure costs escalate. Working from home, for example, is a tough one.

We don’t know yet the full impact on productivity. Working from home is great for the experienced but is nigh on impossible if you need to bring in and train new staff.

What challenges do you anticipate in the business finance market in the coming months and what products will be the most important?

The main thing that could cause problems in the market is credit insurance. The government stepped in quickly and supported this but it’s still sketchy at best.

The knock on effect for the funders is their appetites for funding when debts aren’t insured is nil. We’ve seen a steep increase in revolving credit facilities which rely less on credit insurance.

What are the most important characteristics you look for in an invoice finance provider?

Stability. Openness. Flexibility. Our favoured funders are the ones keenest on offering our clients the maximum funds, coupled with great service and the keenest cost.

What do you like about Satago?

The ability to release cash in any amount of unpaid invoices. Key difference being any amount. Where other funders insist on every invoice going through their facility, Satago don’t. With no monthly min charge either, this will really suit certain clients who will only need to dip in and out of their facility.

Optional built in bad debt protection and a quick decision is a bonus.

Due date of invoice

Total invoice value


Daily late payment fee

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