Selective invoice finance enables you to unlock the value in unpaid invoices. It will free you up to stop chasing late payments and help you to reinvest in growth.
Unlike invoice factoring, selective invoice finance gives you flexibility, boosting your working capital on an invoice-by-invoice basis. You choose the invoices you want to fund and when.
“Growth Lending has been able to provide a bigger facility than our previous lender, which has been vital for business continuity and growth”
Rupesh Patel, managing director, Metropharm
Selective invoice finance helps businesses to unlock the potential of unpaid invoices, without requiring them to sell their whole sales ledger. With selective invoice finance, a company can choose which invoices it funds and when, providing a more flexible and sometimes cheaper solution to freeing up working capital.
The flexibility of selective invoice finance means that businesses can often access a greater advance rate than is offered by traditional invoice factoring, because the company selects individual invoices or debtors, rather than requiring its whole sales ledger to be funded. It also gives firms more control over their cash flow, as they can sell individual invoices, or groups of invoices, depending on their working capital requirements.
We do not impose a minimum contract period or minimum income criteria and we do not restrict funding based on concentration, making our product more accessible than many similar options on the market.
Selective invoice finance is sometimes referred to as spot factoring, spot invoice finance or single invoice factoring, in reference to the flexibility of the facility. In certain markets, these terms are associated with slightly different products, where spot factoring or single invoice factoring refers to the funding of specific individual invoices and selective invoice finance refers to the funding of certain debtors.
Our selective invoice finance product gives businesses the flexibility to fund whatever proportion of invoices they choose, freeing up working capital and keeping them in control of their cash flow.
After you have completed our straightforward online onboarding process, we aim to respond with an offer within 24 hours. You then simply select the debtors you want to fund and upload the corresponding invoices to our online portal. We will validate the invoices and advance you up to 85% of the value, and as soon as we receive payment from your debtors, we will rebate the remaining percentage, minus our fee.
Traditionally, invoice factoring requires a business to sell its whole sales ledger to a third-party factoring company. This firm takes on the debt in its entirety, freeing up working capital for the business. However, this can be a more expensive way of funding invoices and it may not suit firms with seasonal cash fluctuations that do not need the funding year-round.
Selective invoice finance gives businesses the flexibility to fund individual invoices. Companies can select the invoices they want to be funded and decide when the funds are released, putting them in control of their cash flow.
You must have a UK limited company, with B2B invoices of more than £3,000 and payment terms between 0 and 120 days.