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What is Spot Factoring?

Spot Factoring (aka Single Invoice Factoring) only differs from typical invoice factoring in that a business is factoring on a one-time-only basis, rather than establishing a long-term relationship with a factoring company. Factoring fees might be higher when spot factoring, but not necessarily, since factoring rates are determined based on the credit rating of the customer being invoiced.

If you are interested in spot factoring or would like to know what your factoring advance or fee would be, contact us at 855-882-6772 or request a quick quote online.

Spot Factoring – How the Process Works

1. REQUEST A QUOTE

Reach out for a free, no-obligation quote or ask our team for more information.

2. APPLY ONLINE

Apply online or over the phone and get fast answers and approvals.

3. GET WORKING CAPITAL

Factor your invoice and receive fast, free funding – get the working capital you need to grow your business.

Spot Factoring Calculator

Spot factoring (or single invoice factoring) rates are generally assessed on the credit-worthiness of your customer (the customer named in the invoice you want to factor). We offer factoring fees as low as 5 percent and advances up to 93 percent. Use the calculator below to discover how much working capital you could unlock by factoring a single invoice, instead of waiting weeks – or months – on customer payment.

How Does Spot Factoring Work?

If you are familiar with traditional invoice factoring, the process to factor single invoices is very similar. As the factoring client, you apply for approval to factor the invoice, receive approval, submit the invoice and then receive working capital.

Because this is a single event, you won’t be required to sign a short or long term contract or commit to factoring minimums (minimum invoice amounts or minimum number of invoices per month). The process is very straightforward! Once approved:

  • Day One – Factor the invoice and receive an advance of up to 93% of the face value of the invoice
  • Day 30-45-60-90 ++ – Once the customer has paid the invoice, receive any reserve amount held back pending payment

Spot factoring could be especially advantageous to your business in the case where a customer has requested long payment terms. You can extend generous payment terms to your customer while still expediting cash flow for your business.

The single invoice factoring process might look like this, assuming an advance rate of 93% and a fee of 5%:

Day One Factor $8,000 invoice

Receive an advance of $7440

Factoring company earns $400 fee
Day 30-60-90+ Receive additional $160 held in reserve once the invoice has been paid in full

Working capital in hand, you are free to meet your organization’s financial obligations, make payroll, invest in future business, take advantage of suppliers’ early pay discounts, and more.

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Get More Information about Spot Factoring

Contact us at 855-882-6772 or fill out our online application.

Is Single Invoice Factoring Right for Your Business?

Working with a Factor that offers spot factoring on a regular basis could be ideal for your organization if you have a one-time need to speed up cash flow, want to extend generous payment terms to a customer or simply want to stay focused on your business instead of chasing down customer payments. We offer you the flexibility to do what’s best for your business with no-contract, single invoice factoring, short and long term factoring contracts:

  • Competitive factoring fees and advances
  • High level of customer service by someone knowledgeable about your business needs
  • No minimums – you choose which invoices you want to factor, and when
  • Ability to factor small invoices
  • Free funding on factored invoices within 1-2 business days
  • Flexible, tailored programs
  • No application, due diligence or administrative fees

Single invoice factoring is available to any of our factoring clients, in any industry. The bottom line is that if your company invoices customers on terms, or your business waits on third party payments (such as Amazon, Zulily or Poshmark vendors, website and app developers, etc.,) you may be able to speed up organizational cash flow by factoring instead of waiting weeks – or months – to get paid.

We would be happy to talk through the process with you or give you a free, no-risk proposal so you can determine if invoice factoring on a short or long term basis would benefit your business.