Single Selective Invoice Discounting (Spot Factoring)
What is Single Selective Invoice Discounting (SSID) and how does it work?
SSID is a finance solution that typically provides up to 85% of the value of an outstanding invoice(s) as cash to improve the flow of funds into your business, allowing you to choose which invoice(s) you’d like to factor and how much.
There can be several benefits in operating an SSID facility including:
- A fast injection of cash
- Flexibility of funding
- The potential to offer extended terms of credit to larger clients
- More flexible cash flow
- Simple flat fee structure
With SSID, the lender leaves you to manage your customers and your company receives the cash it requires quickly, usually by the next working day.
So who can benefit from Single Selective Invoice Discounting?
SSID is NOT industry-sensitive. Funding can be provided for virtually any business selling a B2B product or service on standard credit terms. Even new start-up businesses may qualify for a facility if they sell to creditworthy customers. The scheme has been devised especially with smaller businesses in mind to fund their growth. As their sales escalate so does the available funding.
The search for the right financial solution begins & ends with Cranfield, so contact us today.