Selective Invoice Factoring, sometimes known as Single Invoice Factoring, is ideal for companies dealing with large single orders or peak seasonal trading conditions.
How it works is you simply nominate the Invoice or Invoices that you wish to Factor, or if preferable, the individual debtor(s) you wish to discount and send these Invoices across to the Factoring Company who will credit you with the agreed Advance Level. Once your Customer pays the Invoice, you will be credited with the balance (i.e. the Invoice amount less the advance and any charges).
Advance levels vary from 80% to 95% of invoice value and the costs are higher than a standard factoring facility at 1% to 5% depending on the size of the invoice. The minimum invoice value is, typically, £1,000.
This service is bespoke and therefore provided by very few Invoice Factoring companies, however, we have great relationships with the ones who do and therefore can point you in the right direction.