These are provided without the need for the long term commitments that are required for normal factoring agreements.
Selective factoring allows you to factor a particular debtor or group of debtors within your company’s wholesale ledger. This is unlike a traditional factoring facility where you are required to factor your whole turnover and sales ledger.
With spot factoring, cash can be released from a single invoice at any time within its payment cycle (restrictions apply).
Benefits of pay as you go finance:
- Flexible and cost effective
- Immediate access to cash tied up in your sales invoices
- Simple application process
- Can work alongside your current banking facilities and relationships
- No minimum fees
- No lengthy commitments
- Funds can be used for any purposes
- Debtor protection options available
- You retain control
- Once set up, you can drop in and out of the facility as required
Am I eligible?
You will be eligible for pay as you go financing if your business falls under one of the following criteria:
- Start-up company
- Limited company
- Company with adverse credit history
- Pre-pack administrations
- Sole trader and partnership (under certain circumstances)
Why choose Goodman Corporate Finance?
We offer a truly market-wide proposition, with access to over 40 factoring funders. We are not tied to any specific funder, taking a ‘blank sheet of paper’ approach to your deal. We take the time to listen and understand your requirements before presenting you with a range of funding options for you to choose from. To read more about ‘why us’ click here.