Immediate Cash for Your Business
A standard bank loan can take months to get approved, and many new business owners don’t have the creditworthiness to get the funds their business needs for success. Online Invoice factoring allows businesses in several industries to turn unpaid invoices into cash within a 24-hour approval process.
With invoice factoring loans, there are no credit checks and no debts to pay back. Business owners can sell their unpaid invoices to us, and in return for our fee, will receive the cash they need, quickly.
Why Choose Goodman Capital Finance As Your Invoice Factoring Company?
Our services give you the freedom to select the invoices you sell us and guarantee funding of up to 90 percent of the invoice amount. We are a financial institution that truly has your best interest in mind. Our factoring process requires no application cost and has zero hidden fees. With Goodman Capital Finance factoring invoices services, your business can rise in its industry without the risk of digging yourself into a financial hole.
Businesses trust Goodman Capital Finance because we hold ourselves to the highest standard. When you factor with us you can expect:
- 24-Hour approval process
- Dedicated account executives
- Access to our elite management team
- An online portal for your account
- Free credit evaluation on your customers
- Invoice reviews to ensure timely payments, and more!
Trust Goodman Capital Finance to Turn Unpaid Invoices into Cash
We are proud to be a partner with companies in industries that range from apparel and consumer goods to oil field services. Our invoice factoring services have helped several businesses redeem the cash they are owed! Don’t let unpaid invoices pile up! Contact us today to find out how our programs can work for your company’s unique situation.
Frequently Asked Questions (FAQs)
How Does Invoice Factoring Work?
Invoice factoring is a reliable and cost-effective form of financing that gives businesses access to working capital quickly. It is an alternative to traditional bank loans, offering an invoice-based solution for any company seeking to bridge the gap between invoice billing and invoice payment. This process starts by submitting your outstanding invoices to Goodman Capital Finance. We will then pay you 90% of the invoice amount due from the customer upfront in exchange for receiving those payments directly from customers. With invoice factoring, businesses can easily ensure steady cash flow and meet their daily obligations – making it an ideal financial solution for businesses of all types and sizes.
What Does Invoice Factoring Cost?
Many companies with clients that have open invoice accounts turn to invoice factoring as a financing solution. Invoice factoring with Goodman Capital presents an ideal option for businesses needing liquidity, but it comes with some costs. These costs are variable, depending on the credit quality of your client base, and the monthly funding volume. But you can be assured that with Goodman Capital Finance, there are no application costs and zero hidden fees.
How Are Factoring Interest Rates Calculated?
Factoring interest rates are an essential part of invoice factoring, as it is how invoice factoring companies determine the cost of their services. Generally, invoice factoring companies calculate their rates based on two factors: the invoice amount and how much credit risk is involved. For example, a lower rate may be offered if the invoice amount is high and there’s no credit risk attached to the job; however, if the invoice amount is lower with more credit risk, a higher rate may be charged. Goodman Capital will break down each factor so that customers know exactly what they’re paying for.
Does Invoice Factoring Create Additional Debt?
Invoice factoring is an increasingly attractive financial tool with the potential to provide businesses with extra financial flexibility and stability. However, there is a common misconception that invoice factoring creates additional debt; in reality, invoice factoring allows you to access funds owed to you more quickly instead of waiting on payment by your customers. Rather than creating debt, invoice factoring facilities provide easy access to capital for your working capital needs, providing greater control over cash flow without taking on additional conventional debt. Through invoice factoring, companies have the potential to utilize the cash from unpaid invoices sooner, unlocking growth potential and increasing efficiency.
Do I Have to Factor All of My Invoices?
Invoice factoring is a great way to unlock cash flow and turn your invoice payments into immediate cash. But the question remains – do you have to factor all your invoices? The answer is no, you don’t. You control which invoice to use for the invoice factoring service. It is important to remember that invoice payments can take up to 90 days. However, by taking advantage of invoice factoring, you can get immediate cash within 24 hours with Goodman Capital when needed.
How Long Does It Take to Get Approved and Setup for Invoice Factoring?
At Goodman, we hold ourselves to the highest standard. When you factor with us, you can expect a 24-hour approval process. Assessing credit history, data collection, and the completion of paperwork are all included. Since invoice factoring is designed to help businesses increase their cash flow quickly and efficiently, working closely with Goodman Capital Finance can ensure you get up and running fast!
How long do factoring companies take to pay?
At Goodman Capital Finance, we pride ourselves on quick and efficient service, getting you the financing you need to keep your business on level ground. Our approval process takes 24 hours after we have received invoices. Contact us for more information on our quick and easy factoring process.
What should I look for in a factoring company?
When choosing a factoring company to partner with, there are some key things to consider to ensure that you make the best long-term decision for your business. Firstly, you should select a factoring company that is well-respected and trusted by other businesses in your industry. Make sure to research the factoring company’s reputation and read reviews from other customers. Additionally, take time to analyze the fees associated with factoring services and their customer service policies. Ultimately, finding a factoring company that you trust and is experienced in providing factoring services of high quality is essential. That way, you can be sure you will receive the factoring support needed while managing cash flow successfully in the ever-changing business world.