Confidential Invoice Discounting
If lengthy payment terms are affecting your cash flow, Penny's invoice discounting solution could help. No need to wait for payment terms to elapse; trade outstanding customer invoices for money in as little as 2 hours.
What is invoice discounting?
Managing company cash flow is arguably one of the most challenging parts of running a business. Research from Xero reveals that 94% of small businesses in the UK face at least one month of negative cash flow every year.
Invoice discounting helps businesses release cash tied up in unpaid invoices.* This helps them to manage their outgoings and cover immediate expenses when working capital dips.
Fast, flexible funding without the hassle
Unlock cash tied up in unpaid invoices with ease and discretion.
Less financial risk
Penny's invoice discounting solution is inherently lower risk than traditional funding options.
3hr lending decisions
Making next-day payments possible. We fund your business upfront and wait for your customers to pay.
Your money, just faster
Unlike a bank loan, Penny gives an advance on the cash you have already made.
Discretion guaranteed
Our confidential service ensures your customers aren't aware of any third-party involvement.
No long-term commitments
We don’t ask for any long-term commitments or paid subscription plans. We’re here when you need us.
Flexible invoice funding
Get paid for invoices with a value of up to £200,000, giving you flexibility no matter the size of your business or invoice.
Improve your business’ cash flow
There are so many reasons why a small business may experience a reduction in cash from time to time. Seasonal fluctuations, market volatility, unfavourable payment terms, growing purchase orders - the list goes on. With invoice discounting, you can:
Meet expenses on time
Cover important purchase costs
Take advantage of opportunities
Maintain positive relationships
Avoid interest & late payment fees
Invest in business growth
How invoice discounting works
In the UK, one of the biggest causes of cash flow problems is unpaid and late payments.
Our invoice discounting facility is designed to give SMEs quick access to cash owed in outstanding invoices.
Instead of waiting weeks or months for your invoices to be settled, you can submit them to us to get the full agreed amount the next working day.
When it comes to credit control, unlike invoice factoring, discounting lets you keep full control of your sales ledger and collections. Your customers will continue to make payments as usual. This is a popular choice for businesses looking to keep their use of invoice finance confidential.
Invoices are advanced in as little as 2 hours with no ongoing commitment or paid subscription plan.
Open an account
Sign up to create your free account in just a few minutes.
Submit your invoice
Upload your selected invoice for an instant quote.
Get paid
Once approved, receive the funds in as little as 2 hours.
Do I qualify for invoice discounting?
To be eligible for invoice discounting with Penny, you must:
Have an invoice amount of £500.00 or more
Be a limited company, and not a partnership or sole trader
Be HMRC registered and based in England, Scotland, or Wales
Have B2B invoices for goods or services delivered
Frequently asked questions
What are the key benefits of invoice discounting?
- Quick cash. Invoice discounting lets you get funds from your unpaid invoices* straight away instead of waiting for your customers to pay. This ensures you have cash on hand to run your business.
- Maintain customer relationships. Your customers won't know you're using this service. You continue to handle all invoicing and collections, maintaining customer relationships as usual.
- Control your collections. You keep control of your invoicing process and customer interactions. This means you can manage your business relationships directly.
- Improve financial planning. Having a steady cash flow helps you plan and budget better, reducing the stress of waiting for customer payments.
- Help your business grow. With fast access to funds, you can invest in growth opportunities without waiting for your customers to pay to buy more stock, hire more people or expand your business.
- Flexibility. You can choose which invoices to finance, so you only use the service when you need it. There are no long-term commitments.
- Confidentiality. Your customers won’t know that you are using invoice discounting. This can be important for maintaining trust and a positive image.
- No collateral needed. You typically don't need to put up assets like property or equipment for invoice discounting. Your invoice itself is enough.
Invoice discounting can help you manage your cash flow more effectively, grow your business, and maintain good relationships with your customers, all while keeping the process discreet.
Get started with Penny
Over 10,000 business owners have already changed the way they manage their cash flow.
*Unpaid invoices refers to invoices within their agreed payment terms.