What is Single Invoice Discounting?
Single invoice discounting is the sale of your invoice at a reduced price, in return for upfront payment. This allows businesses to access funds that are tied up in unpaid invoices. Instead of waiting to be paid, single invoice discounting makes cash available at will.
Example: If you have an insurance invoice for $1000, First Sentinel could purchase it from you for $980. You’d receive payment on your invoice within 60 minutes instead of 30-60 days.
Is this the same as Factoring?
While this term is often used interchangeably with Single Invoice Discounting, they are actually very different. Factoring involves selling your entire accounts receivables, where Single Invoice Discounting allows you to pick and choose which invoices you want funded.
Are there any lock-in contracts?
There are no lock-in contracts. Send your invoice in if you want it funded, don’t if not. Simple as that! We will still be here whenever you need us.
How do I send in my invoices?
Once you’ve been approved, simply email your invoice (and supporting documentation) to:
What paperwork do I need?
There is a simple one-time terms & conditions document to sign.
Is there a minimum invoice amount?
No, we don’t discriminate on invoice size!
How long does it take for me to receive payment after submitting an invoice?
For the Smash Repair industry, within 60 minutes. For other industries, within 24 hours.
What other fees are involved?
There are no extra fees. Only your agreed rate.
What are your office hours during the holiday period?
If you’re working, we’re working! We are only closed on public holidays.