Upload invoices as and when needed and get 100% of the invoice value in 24 hours.
On-demand cash flow
Keep cash flowing freely through your business each month for long-term financial success.
Selective invoice finance
Pick one or more B2B invoices from £500 to £200,000. Get the funds within 24 working hours of submission.
Flexible, unsecured funding
Funding is available for non-homeowners, too - no need for debentures or collateral.
What is single invoice finance?
Single invoice financing lets businesses get fast funds using unpaid invoices.
Penny's a cost-effective solution for business owners who don't want to raise their entire sales ledger.
This helps you keep a healthy cash flow and handle seasonal fluctuations or dips in working capital.
After advancing an invoice, you’ll receive a percentage of the invoice value instantly. No more waiting for long payment terms.
Unlike other providers, we advance 100% of the agreed value of submitted invoices.
How does single invoice finance work?
Our on-demand invoice finance product makes advancing your business' unpaid invoices easy.
Unlike traditional lenders, we don't ask users for long-term contracts. Plus, you don't need to sell your whole sales ledger to get the money owed to your business.
After signing up, you can log in anytime and submit payments for single invoice financing.
No ongoing commitments - we're here when you need us.
Discover the benefits of single invoice finance
Penny isn't a mainstream bank or traditional finance provider. We're a tech-powered solution developed to meet the needs of all business types.
Accessible
Available to sole traders, micro-businesses, startups and SMEs in all industries.
Flexible
Submit one or more invoices and manage payments seamlessly in your account dashboard.
Non-contractual
No commitments. You can use Penny's spot factoring services as little or as much as you'd like.
Trackable
Track invoices with real-time data. Decisions are made within 3 hours of invoice submission.
Dependable
Don't rely on your customers for timely payments. Trade outstanding invoices for next-day funds.
Do I qualify for single invoice finance with Penny?
We're transforming the invoice finance market with solutions that can be used by all businesses, no matter how big or small.
But don't just take our word for it.
The Moneyfacts Awards commended us for Best SME Finance Technology.
We offer greater speed, flexibility, and accessibility than traditional invoice factoring providers.
You can register a free Penny account today if your business:
Is a limited company, partnership, or sole trader
Is HMRC-registered and based in England, Scotland, or Wales
Has B2B invoices for delivered goods or completed work
Has an invoice of £500 - £200k
Wants to finance one or more of your invoices
How to use Penny
Open an account
Our approach to selective factoring is simple.
We don't ask for long-term commitments, and you don't need to raise your full sales ledger to open an account.
Once registered, you choose which customer invoices to finance and when.
Choose your invoice
Log in and upload individual invoices through your account dashboard.
After submitting it, we validate the invoice details with your customer before offering you a no-obligation quote.
Payment in 24 hours
Get paid the total value of the selected invoice for one small processing fee.
With Open Banking, we safely deposit the funds into your account within 24 working hours. When your customer pays the invoice, we get repaid.
Get support with invoice collection and credit control
Compliance management
Dedicated account collection specialists
Experienced in credit control and debt recovery
[Get a quote]
FAQs
Explore frequently asked questions about single invoice financing.
Who’s involved in single invoice finance?
Single invoice finance can be a popular option for SMEs and start-ups with commercial customers on long payment terms or customers who habitually pay late.
It’s also useful for businesses with trouble accessing traditional loans due to less-than-ideal credit scores.
The three parties involved are:
Your business. You choose which invoices to submit to invoice finance providers like Penny.
Spot factoring company. This is the provider that gives you the cash upfront in exchange for passing on your invoice.
Your customer. The business that owes you money on the invoice. They continue to pay you as usual, but you forward the payment to the finance company.
What can single invoice finance be used for?
Single invoice finance can be used to support several areas of your business, including:
Improving cash flow. Get quick cash to cover day-to-day expenses like payroll, rent, or utilities.
Investing in growth. Use the funds to buy more stock, hire new staff, or expand your business premises.
Handling unexpected expenses. Manage unexpected costs or emergencies without disrupting your business.
Paying suppliers. Make sure you pay your suppliers on time, which can strengthen your relationships and possibly lead to better deals.
Managing seasonal fluctuations. Smooth out cash flow during slow seasons or when waiting for large payments from customers.
How much does single invoice finance cost?
No two businesses are the same. That’s why we specifically tailor your quote to you.
We look at factors such as the size of your business, the value of outstanding invoices, and the time it takes your customers to pay.
We strive to offer a competitive and customised quote that fits your business’ unique circumstances. By considering these factors, we can give you the best possible rates to help you manage your cash flow effectively.
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