What is Spot Invoice Finance?
Spot Invoice Finance allows businesses to unlock funds tied up in unpaid invoices of their choosing.* Instead of waiting 30, 60, or even 90+ days for customers to pay, your clients can access the value of their invoices immediately, ensuring steady cash flow and financial stability.
How does Spot Invoice Finance work?
With Spot Invoice Finance, your client chooses which invoices to fund, giving them quick access to the agreed amount as soon as they send an invoice to their customer.
Unlike traditional business funding, Spot Invoice Finance grows with their business, offering a flexible solution that adapts to changing cash flow needs.
As your client's sales grow and more invoices are issued, they can access even more funding, matching their business needs and making it easier to manage operations and seize growth opportunities.
By shifting the focus from your client’s business to the creditworthiness of their customers, it allows us to offer fast, accessible funding without the restrictions of conventional lending.
Our products
We offer two types of invoice finance: Spot Invoice Finance and Confidential Invoice Finance. Both options provide fast funding, but with some key differences.
Spot Invoice Financing (Factoring)
Penny directly contacts your client’s customer (debtor) to confirm the invoice details and manage payments. This ensures full transparency while streamlining the process.
- No minimum trading history
- Invoice values of £500 - £500,000
Confidential Invoice Discounting
This fully private option allows your clients to retain control of their customer relationships. The debtor is unaware of Penny’s involvement, providing a seamless experience.
- One year minimum trading history
- Invoice values of £500 - £500,000
Why choose Penny for your clients?
Fast funding
Your clients could receive funds in as little as two hours.
Flexibility
No long-term contracts - clients choose which invoices to finance.
Startup-friendly
Spot Invoice Finance requires no minimum trading history.
Broad eligibility
We support businesses that other lenders can’t, including sole traders and businesses with limited trading history.
Tailored support
Our expert team ensures your clients get the funding they need, hassle-free.
Why choose Penny as a partner?
Flat commissions
Earn up to 20% revenue share of the net invoice over the term. One broker earned £95,000+ on a single referral!
Easy referrals
Just provide the client’s name and contact details, and we’ll handle the rest.
Dedicated Partner support
Our team is here to help you succeed, offering resources, guidance, and ongoing support.
Is my client eligible for Spot Invoice Finance?
Applicant requirements
- UK-registered business and resident
- No minimum turnover
- No minimum trading history
- Director doesn't need to be a homeowner
Debtor requirements
- UK-registered business, public sector service or registered charity
- Minimum trading history of one year
- Confirm invoice and payment to Penny
- Must have an online presence
Is my client eligible for Confidential Invoice Discounting?
Applicant requirements
- UK-registered business and resident
- Director must be a UK homeowner
- Must have previous trading history with debtor of similar invoice values
Debtor requirements
- UK-registered business, public sector service or registered charity (overseas businesses will be considered)
- Minimum trading history of one year
- Must have an online presence
How it works
Spot Invoice Finance
Stage 1: Submit a lead
Make a referral via partners.pennyfreedom.co.uk. All we need is their personal name, email address or phone number, so we can set them up on our customer portal.
Stage 2: Uploading an invoice
Once registered, your client can upload their invoice(s) directly to the portal. Our team will run checks, and you'll receive status updates via email - you can also track this in your portal.
Stage 3: Contacting the debtor
With the customers approval, we'll contact the debtor to confirm the invoice is genuine and that they agree to pay the invoice balance.
If the debtor doesn't engage with third-party financial providers
We'll offer Confidential Invoice Discounting, provided the client:
Is willing to give a personal guarantee
Has directors who are UK homeowners
Has previous payment with the debtor of similar value
Stage 5: Funding
The customer receives their final quote. Once accepted, the funds will be deposited.
Stage 6: Commission paid
Once your client’s invoice is settled, generate your commission invoice in your portal. This will appear instantly in our system, and you’ll be paid within seven days.
Confidential Invoice Discounting
Stage 1: Submit a lead
Make a referral via partners.pennyfreedom.co.uk. All we need is their personal name, email address or phone number, so we can set them up on our customer portal.
Stage 2: Uploading an invoice
Once registered, your client can upload their invoice(s) directly to the portal. Our team will run checks, and you'll receive status updates via email - you can track this in your portal.
Stage 3: Final offer
Once we have everything we need, we'll send the customer a final quote.
Stage 4: Funding
Upon accepting their final quote, the funds will be deposited.
Stage 5: Commission paid
Once your client’s invoice is settled, generate your commission invoice in your portal. This will appear instantly in our system, and you’ll be paid within seven days.
The Penny difference
Other lenders
- Only fund low-risk businesses
- Won’t typically fund sole traders
- May require a charge or debenture
- Require a minimum trading time
- Need accountancy software integration
- May require open banking
- Offer flat commissions
Penny
- Considers all UK businesses
- Funds all business structures
- Charge or debenture not typically required
- Funds newly established businesses
- Can work without accountancy software integration
- Applications don't require open banking
- Pays commission on all invoices funded
Frequently asked questions
Invoice finance is funding that lets businesses borrow money against what their customers owe them in return for a small fee. This gives them quick access to a percentage of that invoice’s value.
With Penny, you receive funding in less than 24 hours for new users and as little as 2 hours for existing users.
The main types of invoice finance are:
- Invoice factoring
- Invoice discounting
- Selective invoice finance
We offer two types of invoice finance:
Spot Invoice Finance (Factoring): Penny directly contacts the debtor to confirm the invoice details and manage payments.
Confidential Invoice Discounting: A private option where the debtor is unaware of Penny’s involvement.
We work quickly - your clients could receive funds in as little as two hours after approval.
Partners earn up to 1% of the net invoice value over the loan term, providing attractive ongoing earnings for each successful referral.
One of our brokers earned over £95,000 commission for one referral!
We’re proud to fund businesses that many lenders won’t, including startups and sole traders. Each product has specific eligibility criteria:
Spot Invoice Finance: No minimum trading history, no personal guarantee required.
Confidential Invoice Discounting: Requires a personal guarantee and 1-year trading history.
We require minimal paperwork:
The invoice, with proof of sending to the debtor
Identification (e.g., passport or driving license)
For Confidential Invoice Discounting: a signed personal guarantee and agreement
It’s simple! Submit your client’s name and contact details via your Partner portal, and we’ll take care of the rest. We’ll handle checks, communication, and funding while keeping you updated.
Invoice finance is ideal for a wide range of industries, including but not limited to:
Professional services
Manufacturing
Transport and logistics
Construction
Retail and more
No, joining as a partner is completely free. You’ll earn commissions for every successful referral, with no upfront costs or hidden fees.
Yes, our unique underwriting process means we can support businesses that may not qualify with traditional lenders.
*Unpaid invoices refers to invoices within their agreed payment terms.
Partner with Penny today
*Unpaid invoices refers to invoices within their agreed payment terms.