Selective / Spot Factoring
Choose selective / spot factoring for a quick and easy way to raise capital for your business by releasing funds tied up in outstanding invoices.
Selective factoring allows you the option and flexibility to select which invoices to use to release your funds – perfect if you need quick cash flow due to a large order of products. You can choose which single or multiple invoices to factor.
You send out your invoices to customers as usual and then pass the details to the factoring lender. They can release up to 90% of the funds to you within 24 hours and keep 10% until your customers pay the invoices.
The factoring lender will chase the customer and provide credit control on your behalf. The customer pays the full invoice and we release the remaining 10% of the invoice minus a small fee.
• Offers more flexibility by allowing factoring of single invoices
• Cost effective as you use it as you need it
• No ongoing monthly fees or commitment
• Better control of cash flow, and is cost effective
• Enjoy up to 90% of your invoice value
• Access to cash is immediate
• Meet tax requirements and staff payments on time
• Purchase equipment and materials
• Keeps your company out of debt
• You remain in control of what invoices are factored