What is Factoring? Factoring is the sale of your accounts receivable (invoices) at a discount. We pay you for the accounts immediately after you invoice and then we mail your invoice and collect the accounts.

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 transfer for approximately 70% to 85% of the invoices, the same day as the sale.

If your monthly volume is between $10,000 and $2,000,000 and you need additional funds in your business, contact us today with regard to our factoring service. We feel sure that we can help.

Factoring is one of the easiest methods of generating working capital. Specifically, it is a financial tool that allows a business to put its accounts receivable to work while offering protection from bad debt losses. The result is a streamlining of credit collection efforts, an enhanced cash flow, and bookkeeping. Simply put, the factoring process is the purchase of your accounts receivable on a recourse or non-recourse basis. Goodman Factors provides you with credit investigation and collection services. In exchange for these services, Goodman Factors receives a service charge plus interest on borrowed funds.

Until recently, factoring was primarily utilized by the textile, apparel, and home furnishings industries. But any business that creates commercial receivables have discovered that factoring can be ideally suited to their operations.

By factoring your accounts receivable, your company can increase its cash flow. This provides the capital to support additional sales and permits growth at a faster rate. In addition, factoring allows you to benefit from bad debt protection, a professional collection effort, and simplified accounts receivable bookkeeping — all vital to your company's financial success. Factoring is best suited to businesses with annual sales between $500 thousand and $300 million.

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