Do you work with clients who pay invoices in 30 to 60 days? Are you waiting to get paid on a large invoice and need funds sooner? This problem is common for many companies that can’t afford to wait for payment because they have their own expenses to cover.
Single invoice finance can help you solve this problem. It provides your company with immediate funds to pay for expenses and grow the business. When used correctly, this solution can improve your cash flow and provide a platform for growth.
How does single invoice financing work?
Single invoice financing, also known as spot factoring, is a special type of invoice factoring. Most invoice factoring programs require that you finance your whole ledger. This requirement can be impractical if your cash flow issue is caused by a single large invoice.
This program, on the other hand, allows you to finance a single open invoice that is due in 30 to 60 days. The invoice is funded in two separate instalment payments.
The first instalment covers about 80% of the face value of the invoice. The funds are deposited to your bank account soon after we confirm that you have raised the invoice with your client.
The remaining 20%, less the financing fee, is deposited to your account once your customer pays the invoice on their regular schedule. To learn more, read “How Does Invoice Financing Work?”
High factoring advances
One of the most important features of a factoring plan is the advance – the first instalment that is remitted to your bank account. We can provide competitive proposals with high advances. Our advances average 80% and vary depending in your industry, your experience and the credit profile of your clients.
We offer competitive terms with reasonable costs. Specific term details are based on the transaction risk, quality of the invoice and other parameters. For an instant cost estimate, fill out the quote enquiry form.
Single invoice factoring can benefit your business in many ways. The financing line:
- Can be used if you have a cash flow emergency
- Allows you to select which invoices to finance
- Helps you take on large clients or projects
- Is available to small businesses that have no credit history
- Does not require your personal home as security
- Allows you to offer net 30 to net 60 days to clients
- Is often a better solution than bank overdrafts
- Can be set up quickly
Learn more about the advantages and drawbacks of single invoice financing.
Qualifying for our programme is easier than qualifying for most traditional financing solutions. To qualify, you must sell products/services to other businesses who pay their invoices reliably in 90 days or less.
Additionally, your company should:
- Have invoices that are not encumbered by liens
- Be free of legal problems
- Be free of tax problems
Is spot factoring right for you?
Our solution can usually help you if:
- You want to finance a single invoice – or just a few invoices
- You have a large open invoice and need money sooner
- You work with high quality commercial clients
- You have good profit margins
- Low rates: Competitive rates for qualifying clients
- High advances: As high as 85% for certain industries
- Flexible lines: Finance a single invoice, or just a few
- Simple qualification: Simple requirements with easy paperwork
- Quick setup time: We do our best to get your account set up quickly
- Quick funding: We do our best to fund you the same day we get your invoices
- Instant online estimates: To get a cost estimate, fill out this form
Need more information?
Are you looking for an invoice factoring company? We want to help you make an informed decision about working with us. You can learn more about our programmes by visiting our resource centre.
We provide single invoice factoring services to companies throughout Australia, including: