- 30 Apr
Single Debtor Invoice Finance
Sometimes a company will only have a single customer. Often new startups will find themselves in this situation, although there are established customers who undertake all their trade with one debtor. You can still get invoice finance against such situations.
Single debtor invoice finance is the answer but there are two options. A selective facility is very much geared to you picking and choosing invoices to have funded. By design, this allows a single debtor situation (also known as a prime debtor). However you may want to receive the funding on an ongoing basis, rather than just for a short time (a few months max). If this is the case, a whole turnover facility is the answer but not all factoring and discounting companies will accept single debtors. There are several that will, they may insist on bad debt protection in some cases, but this may be a sensible option anyway if you only have one customer. If they go bust you may like to know that you are protected. Whatever your preferences we can help if you call Sean on 03330 113622.