Who is it for?
- Seasonal business with 'lumpy' cash flow requirements
- Businesses that trade mainly with one customer
- Businesses that don't want to commit to a long term finance contract
How does Selective Invoice Finance work?
- You simply upload the relevant invoices via our online portal.
- We approve the invoice and quote you a single fee (a percentage of the invoice value).
- We provide you with an assignment notice (instructing your customer to pay us) that you add to your invoice.
- You send a copy to us with any back-up paperwork e.g purchase order or proof of delivery.
- We advance you up to 90% of the invoice value minus our charge.
- When your customer pays us, we pay you the invoice balance (10%).
What are the benefits?
- Fast access to funds – up to 90% of the value of the invoice can be advanced. You can have funds in your bank in 24 hours.
- Flexibility – you chose which invoices you want to fund. The facility is there when you need it.
- No long term contracts – there is no contractual commitment. You use the service as and when you require.
- Simple, transparent charges – a single fee is charged on the value of the invoice.