Unlock Cash with Selective Invoice Factoring or Selective Invoice Discounting
Selective Invoice Factoring is a facility that goes under numerous names including Spot factoring, Selective Invoice Finance and Single Invoice Finance.
Unlike a traditional invoice factoring facility where the factoring company funds all the debtor book, with Selective Invoice Factoring the client decides which invoices to pass on to the funder. The funder will assess the invoice, including the debtor creditworthiness and value and agree a percentage that they will fund.
This type of facility works well for a client who has a good cashflow, so wouldn’t normally require a traditional factoring facility, but a specific cashflow event requirement or is seasonal. In circumstances like this, the fees would be more advantageous rather than paying for a full factoring facility.
A Spot Factoring facility may take a couple of weeks to set up. We have however, had experience of them taking only a few days.
If you feel that a Selective Invoice Finance facility is of interest to you please get in touch.
Why should I use your Selective Invoice Factoring services?
Business Finance Direct has been operating within the factoring sector for some time now and as a specialist factoring broker, meaning we understand the factoring industry and those companies that operate within it. Also, our service to you is free.
If there are over 80 factoring companies, why will you introduce just one or two?
We have relationships with the majority of the factoring companies within the UK, however, depending on your circumstances we can normally narrow down those most likely to be able to offer you the service that you require. We generally introduce two companies to ensure that you are given a degree of choice and also to ensure competitive pricing.
If you receive a commission payment from the factoring company, how can you be independent?
We only receive a commission payment from the factoring company when you become a client. In today’s marketplace, the majority of factoring companies pay very similar amounts.
I have a few CCJs and have had problems with credit in the past, can you help?
Probably, each case is viewed on its own merits and there are factors who are willing to look at these cases.
As a new start business, can I factor?
Providing that you meet the criteria of the factoring company, yes. In fact using an invoice financing facility often better for a new start company than trading within the confines of a traditional overdraft facility. An invoice finance facility grows with you.
I’ve been turned down by other factoring companies, can you help?
Contact us and we’ll try. Sometimes you’ve just been speaking to the wrong factoring companies!
I already use factoring, am I getting a good deal?
Let us know the details and we’ll make some enquiries for you. Typically, we can save clients substantial money on their fees when they change from their current provider to one we have sourced.