What Is Invoice Financing? Definition & How It Works
Loan Types

What Is Invoice Financing?

Turn unpaid invoices into immediate cash to cover expenses and grow your business.

Invoice financing (also called invoice factoring or accounts receivable financing) lets you get cash immediately for unpaid invoices instead of waiting 30-90 days for customers to pay. A lender advances you 70-95% of the invoice value upfront, then collects payment from your customer. Once paid, you receive the remaining balance minus fees. It's ideal for B2B businesses with slow-paying customers and strong accounts receivable.

How Invoice Financing Works

1

Submit Invoices

Send unpaid invoices to the financing company. They verify the invoices are legitimate and your customers are creditworthy.

2

Receive Advance

Get 70-95% of invoice value deposited into your account, usually within 24-48 hours. This is your immediate cash to cover expenses.

3

Customer Pays

Your customer pays the financing company directly (or you collect and forward payment, depending on the arrangement).

4

Receive Remaining Balance

Once the invoice is paid, you receive the remaining 5-30% balance minus financing fees (typically 1-5% of invoice value).

Types of Invoice Financing

Invoice Factoring

The financing company takes over collecting payments from your customers. They handle accounts receivable management. Learn more about what invoice factoring is.

  • • Financing company collects from customers
  • • Customers know you're using factoring
  • • Lower fees (1-3% per month)
  • • Best for: Businesses that want to outsource collections

Invoice Discounting

You continue collecting payments from customers, but use invoices as collateral for a line of credit. Customers don't know you're using financing.

  • • You collect from customers
  • • Customers don't know about financing
  • • Higher fees (2-5% per month)
  • • Best for: Businesses that want to maintain customer relationships

When to Use Invoice Financing

Invoice financing is ideal for:

  • B2B Businesses: Companies that sell to other businesses with net 30, 60, or 90-day payment terms.
  • Slow-Paying Customers: When customers take 30-90 days to pay, creating cash flow gaps.
  • Rapid Growth: When you're taking on more work but need cash to cover expenses before getting paid.
  • Seasonal Businesses: To smooth cash flow during slow seasons when receivables are high but cash is low.

Pros and Cons

Advantages:

  • Fast access to cash (24-48 hours)
  • Based on receivables, not credit score
  • No collateral required (invoices are collateral)
  • Scales with your sales

Considerations:

  • !More expensive than traditional loans
  • !Only works for B2B businesses
  • !Customers may know you're using factoring
  • !Requires creditworthy customers

How Much Does Invoice Financing Cost?

Costs vary based on invoice value, customer creditworthiness, and payment terms:

  • Factoring fee: 1-5% of invoice value
  • Advance rate: 70-95% of invoice value upfront
  • Example: $10,000 invoice = $8,500 advance (85%), $1,000 fee (2%), $500 remaining balance

Fees are typically higher than traditional loans but provide immediate cash flow when you need it most.

Frequently Asked Questions

What's the difference between invoice financing and invoice factoring?

Invoice factoring means the financing company collects from your customers. Invoice financing/discounting means you collect and use invoices as collateral. Compare invoice factoring vs business loans to understand your options.

Do my customers need to know I'm using invoice financing?

With invoice factoring, yes—they pay the financing company directly. With invoice discounting, no—you collect payments as usual. Choose based on whether you want to maintain direct customer relationships.

What if my customer doesn't pay?

With non-recourse factoring, the financing company absorbs the loss. With recourse factoring, you're responsible for unpaid invoices. Most arrangements are recourse, so choose customers carefully.

Can I use invoice financing for all my invoices?

Yes, you can finance all invoices or select specific ones. Many businesses start with their largest or slowest-paying invoices to maximize cash flow impact.

Need Cash for Unpaid Invoices?

Get immediate cash for your accounts receivable without waiting for customer payments.

Fast funding • Based on receivables • Flexible terms