Using Spot Factoring UK couldn't be easier.
Invoice your customer in respect of completed work.
Assign the invoice to SFUK - we simply ask you to sign a document to assign the invoice/s to us and ask that your customer acknowledges the assignment to verify the debt.
Drawdown the required amount of cash from SFUK.
Collect - SFUK will collect the debt on your behalf. The balance less the agreed discount is sent to you - usually on the same day.
You have the flexibility to choose just one invoice that you are issuing / have issued to a credit worthy customer and ask us to provide you with a one-off advance. As long as we are able to verify the invoice we can usually advance up to 85% of its collectable value.
When the transaction is completed, there is no further commitment to use SFUK again.