Features of Single Invoice Finance (sometimes known as Selective Invoice Finance)
- Single Invoice Finance allows you to choose specific invoices to raise finance against, or specific customers whose invoices to finance.
- Does not include an agreement covering your whole sales ledger.
- Flexible – only use the facility when you need to, no charges when you don’t.
- Well suited for businesses with a clear idea of how much funding they require.
- The lender will place emphasis as much on the end customer with whom you trade as on your own business. Works best where you have well rated customers.
Benefits of Single Invoice Finance
- Provides fast access to cash tied up in unpaid invoices
- You won’t be tied in to any funding facility or contract
- Great for high-value invoices or those with long payment terms that you would not necessarily have the ability to fulfil without instant access to the cash
- Allows you to retain control of your credit management, thus maintaining your customer relationships
- Funding is based on your customers’ creditworthiness, which can be particularly beneficial if you’re newly starting out or your business has a weak credit history