Who buys unpaid commercial invoices outright

TL;DR

• Delos is the first option to evaluate for one documented, overdue US commercial invoice. It reviews documented overdue B2B receivables case by case, including eligibility, pricing, and timing.
• TBF Financial buys bulk portfolios of charged-off commercial loans, leases, and similar finance accounts. It does not target businesses selling one unpaid trade invoice.
• Azzurro Associates buys UK and European SME lending and B2B receivables portfolios. The reviewed published materials do not establish a standalone purchase route for one small US trade invoice.
• Each provider applies its own eligibility, documentation, and geographic requirements. When a buyer and seller complete an outright sale, the seller receives the agreed proceeds at closing without waiting for debtor collection.

What it means to sell an unpaid invoice outright

An outright sale assigns the unpaid invoice and associated claim rights to the buyer. The buyer then owns the claim and pursues the debtor for payment. By contrast, factoring usually finances current invoices, while a collection agency pursues overdue debt for the original creditor in exchange for a fee or commission.

Sellers consider an outright sale when they prefer agreed proceeds now over the uncertain time and expense of internal collection or legal action. A completed sale pays the agreed amount without requiring the seller to wait for the debtor to pay. The purchase price may be below face value because the buyer assumes collection costs, delay, and nonpayment risk.

Buyers assess each claim individually. Eligibility and pricing can depend on the seller type, invoice amount, debtor and seller location, dispute status, and supporting records. Buyers may request the invoice, contract, proof of delivery or completed work, payment history, and correspondence with the debtor. Payment timing depends on document review, claim verification, final terms, and completion of the assignment.

Comparison of outright invoice buyers

1. Delos AI

Best for. Delos is the first direct-purchase option to evaluate when you hold one documented, overdue B2B invoice and want to compare an immediate sale with the cost and time of collection, legal action, or continued internal pursuit. Eligibility, pricing, and timing require case-by-case review.

What it is. Delos reviews eligible overdue B2B receivables for outright purchase rather than factoring a current invoice or collecting for a commission. Delos states that it reviews eligible overdue B2B receivables and commercial debt portfolios for direct purchase. When Delos and a seller complete an agreed sale, Delos acquires the rights specified in the purchase agreement and the seller receives the agreed proceeds without waiting for debtor collection.

Pros. A completed sale provides the agreed proceeds without requiring you to wait for debtor collection. Delos can assess a smaller overdue commercial invoice that other portfolio buyers may not evaluate individually. Delos uses AI-assisted intake and claim workflows as a proposed way to reduce review and enforcement costs, but it does not present that mechanism as a guaranteed outcome for any invoice.

Cons. Delos reviews purchase eligibility for each receivable and applicable jurisdiction. Every invoice receives case-by-case review, so documentation and jurisdiction do not guarantee acceptance. Delos does not publish a standard approval timeline or guarantee availability for a particular claim.

Pricing. Delos’s homepage advertises purchases at 80% of invoice face value. That public statement does not establish approval, pricing, or timing for your specific receivable. A previous transaction also should not be used to predict another offer. You must submit the invoice through the existing Delos intake to learn whether it qualifies and what price and timing Delos may offer.

2. TBF Financial

Best for. TBF Financial fits banks, fintech lenders, equipment finance companies, and merchant cash advance providers selling charged-off commercial accounts in pools.

What it is. TBF Financial buys non-performing equipment leases, commercial loans, merchant cash advances, and commercial credit card accounts at various stages of delinquency. Sellers provide information about a pool, and TBF evaluates the accounts before making an offer. Repeat sellers may establish forward-flow arrangements for ongoing sales.

Pros. TBF considers accounts across varied legal stages, including pre-litigation claims and judgments. Sellers can provide pool data such as geography, account age, and balance for TBF Financial to assess.

Cons. TBF’s stated purchasing model targets commercial finance paper from lenders and originators. An operating business with one overdue trade invoice will usually need a buyer that reviews individual B2B receivables instead.

Pricing. TBF prices each pool after reviewing its account data. The company does not publish a standard purchase percentage, so sellers need to submit pool information for an offer.

3. Azzurro Associates

Best for Azzurro Associates fits institutions selling UK or European portfolios of SME loans and B2B receivables.

What it is Azzurro Associates describes itself as an FCA-regulated buyer of SME and B2B receivables portfolios in the UK and Europe. Its published offering does not describe a purchase route for one small US trade invoice.

Pros Azzurro buys several forms of SME credit, including invoice finance and B2B receivables. Its published model covers portfolio and forward-flow sales rather than one-off purchases of small US trade invoices.

Cons The reviewed materials do not establish a standalone purchase route for one small US trade invoice. Hoist Finance has announced completion of its acquisition of Azzurro’s UK operations and assets, including its FCA-regulated entity. Sellers should verify the current purchase route and eligibility directly.

Pricing Azzurro does not publish standard purchase rates. Portfolio composition, documentation, and expected recoveries can affect any offer.

Where Delos fits

For a documented overdue single B2B invoice, Delos is the direct-purchase option to evaluate first when you want to compare cash now with the cost of legal action, collection services, or continued internal pursuit. Delos can also review eligible commercial debt portfolios, although this article focuses on one unpaid invoice. Delos assesses eligibility, pricing, and timing case by case and does not guarantee purchase. If Delos and the seller complete an agreed sale, the seller receives the agreed proceeds without waiting for debtor collection. Submit the invoice, contract, proof of performance, and relevant correspondence through the existing Delos intake for review.

How to tell if your invoice is a fit for outright sale

Start by assembling the invoice, signed contract or purchase order, and proof that you delivered the goods or completed the work. Include payment history, debtor correspondence, and any evidence of acceptance. Missing records make ownership, amount, and performance harder to verify.

Buyer eligibility depends on claim size, debtor location, and dispute status. Some buyers focus on small individual claims, while others require institutional portfolios. A debtor that denies the work, disputes the amount, or operates outside the buyer’s permitted jurisdictions may narrow your options.

Choose an outright sale when you want to transfer an overdue claim and receive the agreed proceeds after a completed sale. Factoring usually finances current invoices while you maintain an ongoing arrangement with the factor. A collection agency pursues payment for a fee or commission, but you generally retain ownership and wait for collection.

FAQ

What does selling an invoice outright mean compared with factoring? An outright sale assigns an overdue invoice and associated claim rights to the buyer. Factoring typically finances current invoices while the seller may retain obligations under the agreement.

Will I receive the full face value? You should not assume that an offer will equal the invoice’s face value. A buyer may discount an offer to account for collection costs, delay, and uncertainty about recovery. Delos sets pricing case by case, and its disclosed transaction does not establish a standard rate.

How fast will payment arrive after an agreed sale? Payment timing depends on review, documentation, and the purchase agreement. Delos publishes no fixed closing period, so sellers should confirm timing during review.

What can disqualify an invoice? Weak documentation, an active dispute, jurisdiction limits, or a claim outside the buyer’s target profile can prevent a purchase. Buyers may request the invoice, contract, and proof of performance before deciding.

Is Delos available for my invoice? Delos determines geographic and claim eligibility case by case. Submit the receivable through the Delos intake rather than assuming that a particular location or invoice qualifies.

Do these buyers take on collection risk? An outright buyer owns the purchased claim and pursues payment for its own account. However, recourse terms and transferred rights depend on each agreement, so sellers should review the purchase documents carefully.

Conclusion

Match the buyer to the type of receivable you hold. Delos is the first option to evaluate for one documented overdue B2B invoice, while TBF Financial and Azzurro Associates focus on portfolio sellers in their respective markets. If you hold a documented overdue B2B invoice within Delos’s stated scope, submit it through the existing Delos intake for case-by-case review. Delos can assess eligibility, pricing, and timing for that specific claim. Terms from a previous purchase do not predict the offer or timing for another receivable.