Selective Invoice Finance
Fincred CF is a selective invoice finance broker that will help you find funding even against a single invoice. FinCred IS can help you protect your invoices against non-payment due to customer insolvency.
What is Selective Invoice Finance?
Selective invoice finance is an invoice finance facility that allows you to select an individual invoice for financing. There are no long-term contracts so once the invoice is paid and the account is settled with the funder, including fees, the facility ends.
Selective invoice finance is also known as:
- Spot factoring
- Single invoice finance
- Selective receivables finance
If you are looking for a different type of invoice finance, click here.
The Benefits of Selective Invoice Finance
Spot factoring or selective invoice finance can be highly convenient for:
1. More Control
With single invoice finance, your business can receive finance based on a single large order from one of your customers. If your business has seasonal peaks and you periodically require finance to improve your cash flow, selective invoice finance may be the best solution for your business.
2. Less Commitment
You may also have considered entering into an invoice discounting or factoring agreement but have been apprehensive about a long term contract. Selective invoice finance can present an opportunity to see how invoice finance can improve your company’s cash flow without committing to a lengthy contract.
3. More Flexibility
Choose which invoices you want to finance. If you have temporary deficits in cash flow but do not need a continuous invoice finance facility, choosing which single invoices to finance could be hugely beneficial.
Am I Eligible for Selective Invoice Finance?
There are usually some eligibility criteria, as with all forms of invoice finance. Although there are often eligibility criteria for selective invoice finance, the criteria is constantly changing as the industry evolves. Contact us to find out specific criteria for your funding requirements. Typical selective invoice finance criteria can be:
- You are a UK LLP, UK Limited or a UK PLC
- You are trading with UK businesses (Limited, LLP or PLC) on credit terms
- You have been trading for a minimum of 12 months
How Much Does Selective Invoice Finance Cost?
Selective invoice finance and spot factoring has similar pricing to invoice discounting and factoring. The fees are charged on the funds advanced against an invoice. The fees usually start at around 2% of funds advanced per 30 days.
The pricing structure is affected by certain factors such as the credit risk of your customer. You can also choose to include optional services like, risk insights and credit control at an additional cost.
Why Choose Selective Invoice Finance through Fincred CF
Fincred CF is an independent broker. Finding the best deals for our customers is at the heart of our mission, that makes us the best choice for single invoice finance.
Though commercial finance can be complex, you don’t have to go it alone. We are financial experts ready to help you and become partners that your business can rely on.
Ready to release capital trapped in your invoices? Contact Fincred CF today for a free selective invoice finance quote.
UK Wide Industry Statistics
Total value off all sales financed in the UK - £bn
Domestic invoice discounting - £bn
Total number of asset based lending clients
Domestic invoice discounting clients
Please Get In Touch
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