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Single / Spot Invoicing for Businesses

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Single / Spot

Invoicing

Single / Spot Invoicing is a common type of invoice finance and widely used in UK business. With single / spot invoicing, you effectively sell unpaid invoices to a lender who will pay you a cash advance based on a percentage of the invoice’s value – generally around 80% to 90% of the total.

This type of invoice finance is very similar to factoring; the key difference being that your customer may not be aware that you have taken on cash flow finance because you retain control of your sales ledger and communicate with customers as normal.

With a number of business finance options available to most businesses, it can be difficult to know which one is the most appropriate, but single / spot invoicing could be a good option if:

  • Your credit control procedures are robust, and known to be effective
  • You have minimal bad debts
  • Your customers pay on time in the main
  • Customers have a minimum of 30 days in which to pay
  • You meet the minimum level of turnover required by the lender

Single / spot invoicing solutions are usually more widely available to established businesses rather than start-ups which, by their nature, would not have reliable turnover and credit management processes.

The single / spot invoicing market is fierce with lending based on the value of invoices, and it is a good idea to obtain professional advice on which type of single / spot invoicing contract would be most suitable for your business. UK Business Finance can offer the professional guidance you need when considering single / spot invoicing. We are able to advise on whether this is the right type of finance for your business, and help you understand the benefits offered in more detail. Alternatively, we can ascertain whether a different finance solution is more suitable in your circumstances.

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Scouring the marketplace for cost-effective funding is what we do best by analysing your business situation and matching you with the perfect lender. Once we know your objectives and funding requirements, the process can move very quickly.

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Our approach to finance-finding is completely objective. We don’t push lenders your way if they’re not offering the best finance solution for your needs. Some brokers will only suggest lenders that secure them the biggest kick-back – that’s not us.

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Our experts have liaised with more than 50 lenders on your behalf and will recommend the best finance package for your business needs. Once you have accepted the quote presented to you, you’ll have the money in your account within 24-48 hours.
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