Appalling service levels (Not Recommended)

Pros The cashconnect system is very easy to use. invoices can be put on easily, and a number of generic reports can be raised quickly.

Cons Service levels are absoutely shocking. On at least 4 occassions within 6 months Lloyds have been asked to address something business critical. On every occassion between 2 and 4 weeks notice was given, but nothing happened until the last day.

As Ou C mentioned, Lloyds will happily withdraw funding at the drop of a hat. I have resolved 2 of the 3 issues within an afternoon and the 3rd one will be done within 48 hours. I had no communication from Lloyds to let me know that there was a problem, and the only time I found out was when funds were not available in my account.

I have the factoring service and in 4 months Lloyds have managed to collect less than 10% of the overall ledger, when my payment terms are 14 days as standard. Again, I was not told about this until funding was pulled.

I would thoroughly recommend avoiding these services at all cost. They are run by a bunch of amateurs who have no idea how to help a small and growing business.

Decisions on a whim (Not Recommended)

Pros The automated parts of the service is very good. There isn't a problem with inputting your invoices, receiving your money and getting reports.

Cons Customer services is attrocious.

The customer contact is haphazard. We don't know what contact is being made with our customer and when the customer calls as to find out what the query is no one at LTSBCF can tell us what contact they have had with the customer.

You can get funding withdrawn with no warning whatsoever and based on a whim. LTSBCF don't seem to understand that if they have concerns they need to discuss it with the customer and give the customer a deadline to sort out issues, if any, before withdrawing funding. On the occassions that LTSBCF have withdrawn funding without warning the issue has been sorted within hours.

A very agile company (Recommended)

Pros I've worked with the team at LTSBCF for nearly 4 years now, and considering the size of the organisation, i'm often surprised at their ability to make things happen quickly... often quicker than some smaller independents. A great sales team, backed up by a strong client management function based in regional offices through out the UK. Compared to other Bank factors, LTSBCF are streets ahead.

Cons Occasionally one or two of the other lenders out there in the market may be a little quicker or creative with a solution for a client.

Professional & progressive lender (Recommended)

Pros I have worked with LTSBCF across their business on different projects (related to the Internet) and I have always found everyone I've worked with to be professional, creative and reliable. When referring customers to LTSBCF I always had full faith in them from the moment Tony's team in Banbury stepped in through to the initial sales meeting and on to client management. I have also been on client visits with LTSBCF and was very happy with the way clients were treated and the services & products provided.

Cons None.