“Penny Pay not available” means that unfortunately, on this occasion, we can’t offer you a credit facility on that invoice.
Once you’ve added your client and raised your invoice in the Penny app, you’ll usually get the option to “Penny Pay” that invoice - in other words fast track your money, so it’s in your account PDQ (typically within 24 hours or 1 business day).
If the app indicates “Penny Pay not available” it means that unfortunately, on this occasion, we can’t offer you a credit facility on that invoice.
When Penny pays you early for the work you have done, we are effectively buying that invoice and taking on the original terms and associated risk.
As with all financial services, some criteria need to be met - these are based on factors such as turnover, trading history and credit rating. If your client does not meet those criteria, we are unable to finance your invoice. It’s no reflection on you, as we don’t carry out any credit checks or apply any lending criteria to Penny users themselves.
You can still use Penny as a free tool to create, send and store your invoices, and the “Penny Pay” finance facility may be available when you invoice other clients. It is also worth bearing in mind that Penny's clever algorithm makes a decision based on the most recent data available, so just because we are not able to offer you finance on an invoice for a particular client today, that may change in the future.
Ask us anything
The Penny Q&A blog series is here to address specific questions we have been asked by our users.
Questions and feedback help us evolve and make Penny better for our community of freelancers.
If you’ve got a question, email us at firstname.lastname@example.org
You can also find all the basics about using Penny in our FAQ section.