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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.
If your monthly volume is between $10,000
and $3,000,000 and you need additional funds in your
business, contact us today with regard to our 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.
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When factoring with Goodman Factors, you receive:
Payment of 70-85% of your invoices the day you generate
them.
Payment of residual balance after 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.
Collections department to send out past due statements
and telephone your larger past due customers.
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