Selective invoice finance Ireland: fund one invoice

Yes. Selective invoice finance funds a single invoice, or invoices to chosen customers, instead of your whole sales ledger. You choose when to use it; the provider checks the customer’s credit, advances an agreed share of the invoice, and pays the balance less fees when the customer settles. There is usually no long contract.

Spot factoring is another name for selective invoice finance: a one-off advance against a single invoice. The provider usually notifies the customer and collects that invoice, much like factoring, but only for the invoice you choose. It is useful for occasional large invoices, but dearer per invoice than a whole-ledger facility.

Usually not, or only a short one. That is the main appeal: there is no whole-ledger commitment or minimum term of the kind found in factoring and discounting. Check whether there is a set-up fee, a minimum number of invoices or a minimum monthly charge, as these can make occasional use dearer than it looks.

Typically yes, per invoice, because the provider takes on single transactions and does more work each time. But you only pay when you use it. For a company that needs early payment a few times a year, the total cost can still be lower than running a full facility. Compare the cost of funding each invoice in euro.

A selected debtor facility that funds invoices to named customers only, while your company keeps collecting. It sits between spot factoring and a full discounting facility: you are not tied to the whole ledger, but you get ongoing funding against chosen accounts. Ask whether customers will be notified and what minimum volume applies.

It varies by provider. Some only fund invoices above a set value, because each invoice involves credit checks and paperwork, and small invoices can cost proportionately more to fund. Ask the provider for its minimum invoice size and any minimum fee per invoice before you submit one.

Usually your company has to repay the advance if the customer does not pay, and fees keep building while the invoice is outstanding, because charges often depend on how long it takes to settle. You can also claim statutory late payment interest from a late business customer.

For a large one-off contract, a seasonal peak, or a single slow-paying major customer, where your company needs early payment occasionally rather than all year. If you find yourself funding invoices every month, a whole-ledger invoice factoring or discounting facility is usually cheaper and simpler to run.

Usually the invoice itself, the contract or purchase order behind it, proof the work is complete or goods delivered, customer details, your latest accounts and director ID. Because the provider relies on one customer paying, it focuses on that customer’s credit strength and whether the invoice could be disputed.