Selective Invoice Finance
Unlock cash tied up in one or multiple unpaid invoices with our flexible pay-as-you-go solution.
Check eligibility image of someone looking at a laptopWhat is Selective Invoice Financing?
Selective Invoice Finance, also known as spot factoring, selective borrowing or Single Invoice Finance, allows you to release funds early from one or multiple unpaid invoices. It’s a convenient way to boost your cash flow, without being tied into a contract.
Invoice Finance Manager
Invoice Finance Manager is our Selective Invoice Finance platform suitable for businesses looking to enhance their cash flow. Connect your accounting software to our online platform, access a range of useful tools, and inject money into your business as and when you need it.
What are the advantages of Selective Invoice Finance for your business?
Does your business qualify for Selective Invoice Finance?
To be eligible for our Invoice Finance Manager platform, you should:
- be a limited company
- invoice other UK businesses
- have a compatible accountancy software package
To be eligible to fund invoices, you must meet all eligibility criteria and you should have:
- been trading for 6 months or longer
- a minimum turnover of £100,000 per annum
Selective Invoice Finance FAQs
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- Provide some details about your business so we can complete a quick online eligibility check.
- If you’re eligible, we’ll ask you to connect your accounting software package to quickly and accurately show you which invoices we can fund and how much it will cost you. You’ll also be able to use our Credit Control and Risk Insights features.
- For Flexible Funding, once you are comfortable with costings, we'll verify your business by connecting to your bank account. In some cases, we may need more details such as accounts or customer contracts- your account manager will tell you if this is needed.
- If you are using Credit Control and Risk Insight features only, you will not need to connect your bank account or provide any additional information.
- Your information is stored in line with our strict Privacy Policy. It’s also encrypted to keep it safe and secure.
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No- we only base our risk assessment on the strength of your business and customers.
Although we review your personal credit files as part of our checks, it won’t affect your credit score or ability to get personal finance.
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Yes, you can still use our Credit Control and Risk Insight features even if you aren’t eligible to fund invoices.
Providing you are a limited company, invoice other UK businesses, and have a compatible accounting software package – you can start using Invoice Finance Manager.
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If you are using our Flexible Funding feature, we’ll contact your debtors as part of our verification process- at that stage we make it clear you’re working with us.
We understand that the relationship between you and your clients is one of the most important aspects of running your business. During the onboarding process, our dedicated team will make sure that you are aware before we contact any of your customers.
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Why do I need to connect my accountancy software and what information do you get? expandable section
You need to connect your accountancy software to access our platform and its features. By connecting, you can:
- quickly and accurately view which of your invoices we can fund – without having to send us any manual reports
- see how much it will cost to fund an invoice
- utilise our Risk Insights and Credit Control tools
- reduce the admin burden of manually uploading any invoices and providing monthly management accounts when operating your facility.
We see a ‘read-only’ view, so we can’t edit the data in your accounting software.
Unfortunately, you won’t be able to use Invoice Finance Manager without a compatible ASP. View a list of compatible accountancy software packages (PDF, 80KB).
If you’re an existing Lloyds Bank or Bank of Scotland customer, register for a free 3-month trial of our accounting software – Business Finance Assistant*.
Selective Invoice Finance success story: WJC Security
Find out how Invoice Finance Manager offered the support and flexibility WJC Security needed to help them grow.
Other Invoice Finance Solutions
Invoice Factoring
Optimise your cashflow further by funding your whole sales ledger, and free up time by outsourcing your sales ledger management and reconciliation to us.
Invoice Discounting
Fund your whole sales ledger but manage your own payment collections; while keeping your facility confidential.
Business Finance Assistant
*You must have a Lloyds Bank or Bank of Scotland Business Current Account to use Business Finance Assistant. You will need to be registered for Online for Business (Business Internet Banking if you are a Bank of Scotland customer), or Commercial Banking Online to continue using this product beyond the trial period. Public limited companies are not currently eligible.
Important Legal Information
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.
Factoring and Invoice Discounting facilities may be provided by one or more of Lloyds Bank Commercial Finance Limited, Lloyds Bank plc and Bank of Scotland plc. Lloyds Bank Commercial Finance Limited. Registered in England & Wales no. 733011. Registered office: No.1, Brookhill Way, Banbury OX16 3EL. Lloyds Bank plc. Registered in England and Wales no. 2065. Registered Office: 25 Gresham Street, London EC2V 7HN.
Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Bank of Scotland plc. Registered in Scotland No.SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration no. 169628.