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Single Debtor Factoring, also known as Selective Invoice Finance is where you will require funding of just one of your customers or a specific invoice. It has become a more accepted form of finance over the past few years and can work very well for customers with an occasional need for an increase in cashflow.
Selective Invoice Finance is normally quick to set up and funding can be made very quickly once set up. The funder will do some checks on you and then once they can verify the collectability of the invoice and your customer, they will typically advance up to 85%. You decide how much, subject to the maximum, you would like to drawdown, therefore reducing your costs.
Once the funder receives payment from your customer they will pay you the balance less their fees.
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