Can I Get Invoice Finance With Only One or Two Customers?
Yes, but with limitations. Providers apply "concentration limits" — typically capping 25-40% of the facility against any single customer. With only one customer, your entire facility IS that customer, so the provider carries all their risk in one basket. Expect lower advance rates (60-75% instead of 85-90%) and higher costs. Some specialist providers handle concentrated debtor books — you just need to find them.
Quick Reference
Direct Answer
Yes, invoice finance is possible with one or two customers, but concentration limits apply. Providers typically cap exposure to any single debtor at 25-40% of the facility. With one customer, expect lower advance rates (60-75%) and higher fees. Specialist providers exist for concentrated debtor books.
Summary
Concentration risk is a key underwriting factor. If your single customer is a large, creditworthy company (e.g., NHS, major retailer, FTSE 250), providers are more willing to accept the concentration because the default risk is low. If your single customer is a small private company, fewer providers will help. Spot/selective factoring — financing individual invoices — can be an alternative when whole-ledger facilities are declined.
This Page Covers
Whether invoice finance works with a highly concentrated customer base
Not Covered Here
Spot factoring option (see /guides/selective-invoice-finance/), freelancer scenarios (see /questions/invoice-finance-for-freelancers/)
Why Providers Care About Concentration
If you have 20 customers and one goes bust, the provider loses 5% of their exposure. If you have one customer and they go bust, the provider loses everything. That is why concentration limits exist. Providers spread their risk across your debtor book — with only one debtor, there is nothing to spread across.
Your Options
Spot factoring: finance individual invoices without a whole-ledger facility. No concentration rules because you are funding invoice by invoice. Specialist providers: some factors specialise in single-debtor businesses, particularly in recruitment and construction subcontracting. Non-recourse: if you can get bad debt protection on your one customer, the provider's risk drops significantly and they may offer better terms.
The quality of your customer matters enormously. One customer who is Tesco or the NHS is very different from one customer who is a small private company. A strong single debtor can actually get you decent terms.
Oliver Mackman
Director, Market Invoice
Oliver leads Market Invoice's editorial and comparison research. With a background in UK commercial finance, he oversees provider analysis, rate verification, and industry reporting across all verticals.
Last reviewed: 7 April 2026