Selective invoice finance
Bridge the gap created by long payment terms
Advance your invoices on a pay-as-you-go basis
More than a third of SMEs wait between 30 and 90 days to get paid, placing severe strain on cash flow and limiting opportunities for growth.
Invoice finance enables you to unlock the cash tied up in these unpaid invoices by advancing you up to 90% of the invoice value, on a pay-as-you-go basis.
You select the invoices you want to finance and when, with the flexibility to advance cash on an invoice-by-invoice basis, in USD, EUR and GBP.
A great fit if you require:
Flexibility
Advance funds for as many or as few invoice as you like, on a pay-as-you-go basis
Security
Credit insurance included for funded debts
Freedom
Funds available in multiple currencies, for multiple jurisdictions, with the option to fund overseas businesses as standalone
Jeff Vernetti
General Manager
Ballparks National
“This has been a seamless process for us and we are very grateful to the professional team at Growth Lending for their support. They communicated well throughout the process and enabled our project to remain on schedule.”
How does selective invoice finance work?
Your business has $100,000 tied up in payments owed from debtors, disrupting your cash flow and putting strain on the relationship with your own suppliers, who also appreciate prompt payment.
Fortunately, your business is a great fit for selective invoice finance.
After uploading your invoices to Growth Lending’s simple-to-use platform, we advance up to 90% of the total value of these invoices and you are free to use this cash as you see fit.
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Access more cash, at an earlier stage than what is offered by non-specialist lenders
Facilities that are never off-the-shelf – we tailor our facilities to your individual needs
Flexible use of funds, including international growth strategies
FAQs
View all FAQsInvoice finance is when a lender utilizes an unpaid invoice as security for funding, giving you immediate access to a percentage of the invoice’s value.
This unlocks capital, enhancing your cash flow and enabling you to pay staff and suppliers and reinvest in operations and growth earlier than you would be able to if your cash remained tied up in late payments.
Many lenders can also provide funding against your whole sales ledger, although this is usually referred to as invoice discounting.
Invoice finance is sometimes referred to as invoice factoring.
Selective invoice finance gives you the flexibility to fund individual invoices. Simply select the invoices you want to fund and decide when the funds are released, putting you in control of your cash flow for a low service fee.
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 refer to the funding of specific individual invoices.
Our selective invoice finance product gives you the flexibility to fund whatever proportion of invoices you choose, freeing up working capital and retaining control of your cash flow.
After you have completed our straightforward online onboarding process, we aim to respond with an indicative offer within 24 hours.
One of our lending experts will work with you to understand your cash flow requirements and get you onboarded in no time.
With selective invoice finance, Growth Lending does 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.
The flexibility of selective invoice finance means that you can often access a greater advance rate than is usually offered, as you select the individual invoices or debtors to be financed.
It also gives you more control over your cash flow, as you can leverage individual invoices, or groups of invoices, depending on your working capital requirements.
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. With factoring, the lender usually becomes responsible for chasing debtors and recovering payments.
Invoice finance on the other hand, does not require the sale of a whole ledger, with payments advanced by the lender on an invoice-by-invoice basis. Working this way also means that you retain responsibility for debtor payments, keeping closer control of your cash flow.
Your business must be registered in the US, UK or or other OECD countries on request, with B2B invoices of more than £10,000 and payment terms between 30 and 120 days.
With selective invoice finance, you retain complete control of your cash flow and are therefore responsible for recovering outstanding payments.