What is selective invoice discounting?
This type of funding, also called spot financing, lets you borrow against handpicked invoices. You sell invoices to us for a small discount in exchange for immediate access to the funds they represent, allowing you to tap into funds on your own terms, rather than according to capricious customers.
By choosing selective invoice discounting, you retain full control of your internal processes and your customers are unaware of third party involvement. You simply invoice your customer as normal, send us a copy, and we forward up to 90% of the invoice value. When the customer pays you, you pay us back; it’s as simple as that.
Who is suitable for selective invoice discounting?
Businesses with big invoices and creditworthy customers can enjoy the luxury of immediate access to funds locked up in pending invoices. Our selective invoice discounting customers often experience the ebbs and flows of seasonal cycles. They establish invoice discounting facilities to keep their cash flow consistent and to prevent reduce the impact of seasonality on growth.
This type of finance is especially appealing for businesses who don’t want to borrow against their entire invoice ledger, as it gives the freedom to borrow against individual invoices here and there, according to the evolving needs of the business. We will make sure you have relevant things in place before lending, namely Bad Debt Protection Cover, and a suitable credit collection process. Then you will be able to enjoy:
Fixed interest rates and no hidden fees
Weekly or monthly repayments
No hidden fees
Applications considered from any industry
Flexibility in how you use your loan
A slick application process