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What Is Spot Factoring?
Spot factoring has become an increasingly popular way for SMEs and established businesses alike to quickly access funds from specific invoices which have been raised to customers.
Rather than handing your entire sales ledger over to an invoice factoring partner, spot factoring allows businesses to choose individual invoices which they wish to advance, offering greater flexibility at competitive rates.
Capitalise works with a huge range of spot factoring companies with extensive experience providing this handy financial product to businesses across almost every sector of the UK industry.
Or give us a call today on 0203 696 9700.
Why Use Spot Factoring?
Advance selected invoices without handing over your entire sales ledger.
Spot factoring gives you the freedom to choose which of your invoices you'd like to advance. Whether you need to draw from a smaller invoice to tide you over in the short term or a larger payment to help fund your next big project, you'll be able to manage your cash flow with pinpoint accuracy.
With Capitalise, it takes just 3 minutes to complete your profile and we'll then match your business with suitable spot factoring companies who can quickly provide the funds you need. Once approved, many lenders are able to make payments within 24 hours with some even offering same day transfers.
Spot factoring companies often specialise in working with businesses from specific industries such as construction, recruitment, automotive, import/export, manufacturing and more.
We'll match your business with lenders who have a proven track record in successfully delivering spot factoring to your sector, giving you the peace of mind that comes when working alongside an experienced industry expert.
Outsource Credit Control
Spot factoring companies can offer credit control and sales ledger management as part of their financing package. Rather than having to chase up invoice payments and credit check your latest clients, these lenders will take over these time consuming tasks, leaving you to focus on what matters most – your business.
Who Is Spot Factoring For?
Traditional invoice factoring partners will typically take over your entire sales ledger, forwarding payments to your business as soon as they are raised to your customers. However, this isn't always ideal particularly if there are large disparities between the value of the invoices you're raising.
Spot factoring is great for both SMEs and mature businesses as it offers far greater control over your cash flow, helping you to quickly access funds that can be used for stock purchases, staff wages, marketing, advertising, or just about any other business purpose.
Use Capitalise to discover spot factoring companies who understand the unique financial challenges faced by your business.
Or give us a call on 020 3696 9700.
How Does Spot Factoring Work?
It's now easier than ever before to spot factor invoices and stabilise your cash flow.
Simply forward the raised invoice to both your customer and your spot factoring lender who will arrange for a percentage of its face value to be transferred to your business bank account. Many lenders now offer sales ledger management systems which can integrate directly into your existing accounting software, adding greater fluidity and accessibility throughout this process.
As a factoring partner, they'll chase up the outstanding invoice on your behalf in a professional, friendly and courteous manner with the full payment made into a third party trust account for added transparency and security.
You'll then be forwarded the remaining balance, minus fees and interest, leaving you free to advance additional invoices further down the line.
Create your business profile at Capitalise today and we'll match your business with experienced, industry-specific spot factoring companies in as little as 3 minutes.