Goodman Factors Invoice Factoring
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Invoice Factoring is the process of selling your accounts receivable (invoices) at a discount, for the purpose of creating cash flow now, instead of waiting for your customer to pay invoices 30/60 or 90 days later.

You may sell all or selected accounts; some firms sell only a portion of their receivables. We retain the right to decline the purchase of certain accounts. Accounts may be sold as frequently as every day or as infrequently as twice a month.

Every day or week you can sell us your current invoices and receive immediate cash for these invoices. Manufacturers, wholesalers and service companies can sell their commercial, industrial or government invoices and receive a check or bank wire transfer for approximately 80% to 90% of the invoices the same day.

If your monthly volume is between $10,000 and $5,000,000 and you need additional funds in your business, contact us today with regard to our invoice factoring service.

Credit Resources
We have access to a full range of credit resources, including our own credit experience with tens of thousands of businesses nationwide. Goodman Factors will check credit on your customers, usually within 24 hours or less, and will even assume full credit risk on your invoices, subject to credit approval, thereby protecting your company from losses incurred due to your customer's bankruptcy, insolvency, or inability to pay due to financial reasons.

 

 

When factoring with Goodman Factors, you receive:

Payment of 80-90% of your invoices the day you generate them.

Available payment of residual balance the day after your customer pays us for the invoice.

Elimination of posting your invoices to a customer ledger or file.

Credit service to assist you in granting customers credit.

Collection department to send out past due statements and telephone your larger past due customers.

 

How does Invoice Factoring help me?

Creating faster cash flow provides the opportunity to pay vendors early and ask for an early pay discount.

You could buy additional products or services allowing you to continue filling orders on hand.

Make the weekly or Bi-weekly payroll demands of the company.

Let someone else do the back office work of checking your customers credit worthiness and establish credit guidelines for them.

It can be difficult to make collection calls to customers you want to keep selling when they are paying late. Goodman will make those collection calls for you. You can keep your focus on selling and growing the company.

Goodman Factors will not credit limit your growth, based on the financial statements of your company, (as most banks and asset based lenders do). Buying your invoices is depended on credit worthiness of your customers.

 

 

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