Overview
Goodman Capital Finance is a factoring and asset-based lending company based at 3010 LBJ Freeway in Dallas, Texas. The business began in 1972 as Goodman Factors, and its own history page describes it as one of the oldest specialty lenders in the United States. Its footer lists offices in Dallas, Austin, Chicago and Charlotte. The company says it serves businesses throughout the United States.
Ownership has changed twice. According to the timeline on Goodman's about page, the business was bought by long-time managers in 2002. In 2014 it was acquired by Independent Bank, a community bank founded in 1998 with 10 branches in the Memphis area. Goodman's team page says the two "joined forces in May of 2014." Goodman therefore is not an independent factor in the strict sense. It operates under its own name and runs its own credit and sales teams, but it is a division of a bank. An ABF Journal report on the 2019 rebrand said the bank tie-up gave Goodman a stronger capital base and a lower cost of funds.
The name change came in 2019. Goodman says it switched from Goodman Factors to Goodman Capital Finance to reflect a broader product line, after hiring two former Wells Fargo Business Credit executives in 2018 to build an asset-based lending platform. Its copyright line still reads "Goodman Factors," which is a small reminder of how long the original brand ran.
The homepage claims more than $10 billion funded since inception. It says some employees have been with the company for more than 40 years. The about page cites an average employee tenure of over 10 years and more than 200 years of combined management experience. Those are the company's own figures. They fit what the management page shows: an executive vice president who joined in 1992 and a portfolio manager who started in 1995.
The history page says Goodman's deepest experience is with retail-directed manufacturers and distributors, such as electronics, apparel, accessories, gifts and home furnishings. It has dedicated pages for apparel and consumer goods, business services, distributors, manufacturing, oilfield services, staffing and transportation. Its about page also names government contractors, printers and temporary staffing firms among past clients.
Rates, advances and fees
Goodman does not publish a factoring rate. Its factoring FAQ says costs "are variable, depending on the credit quality of your client base, and the monthly funding volume." It also says rates generally depend on the size of the invoice and the credit risk involved. That is standard for general business factoring, but it means you cannot compare Goodman with other factors until you have a written proposal.
On advances, the factoring page says Goodman will fund up to 90% of the invoices you choose to sell. Its FAQ gives a simple example of the company paying 90% upfront and collecting the full amount from your customer. Treat 90% as the ceiling, not the default. Advances usually depend on your industry, your customers and how concentrated your receivables are.
The fee claims Goodman makes are short. Its factoring page says there is no application cost and "zero hidden fees." It does not list a fee schedule. We found no published figures for wire or ACH charges, lockbox or processing fees, or how quickly reserves come back after your customer pays. Before you sign, ask for one page that lists the discount rate, how it grows if an invoice stays unpaid past 30 days, and every per-transaction charge. Our guide to hidden factoring fees covers the questions to ask.
Goodman's main factoring page mixes two ideas that are worth separating. It says factoring involves "no credit checks," which refers to the business owner's credit. It also promises a "free credit evaluation on your customers." Both are true of most factors. Your own credit matters less than your customers' ability to pay, and the factor checks those customers before it buys their invoices. The free customer credit checks are useful, because they help you avoid extending terms to a buyer who is unlikely to pay.
Goodman's asset-based lending product is a genuine alternative for larger clients. Its ABL page says advance rates against receivables can reach 90%, with up to 50% against inventory. Its FAQ gives a typical range of 70% to 90% on eligible receivables and 50% to 60% on eligible inventory. The page says ABL deals close within 30 days and come without financial covenants. Few factors in our directory offer both products in-house. If your business is moving toward a revolving line of credit, it may help to stay with one lender.
Contract terms
Goodman's site says little about contract structure, and what it does say is mostly in its pages for referral partners. Its broker page lists "no long term contracts" as a benefit. Its banker page says no early termination fees apply to customers who return to their bank. Its contact page advertises a "straightforward contract." None of these pages gives a term, a notice period or an exit fee for clients who leave for another factor. Ask Goodman to put the term, the notice requirement and any early termination fee in writing.
Selective factoring is clearly allowed. The factoring page says you have "the freedom to select the invoices you sell us." Its FAQ answers "Do I have to factor all of my invoices?" with a direct "no." Its homepage adds that Goodman won't make you sell it accounts you can't depend on. That flexibility is useful for seasonal businesses or for owners who only want to factor slow-paying customers. Expect the pricing on a spot arrangement to differ from a full-ledger arrangement, and ask for both.
The site does not say whether Goodman's factoring is recourse or non-recourse. If a customer fails to pay because it goes out of business, assume you are responsible unless the contract says otherwise. Our guide to recourse vs non-recourse factoring explains what to look for in the agreement.
To qualify, Goodman says your business should sell on terms of net 30 days or longer. Its homepage aims the program at businesses that generate between $10,000 and $10 million a month. The about page gives the same range for funding requirements. The prospective client form asks for an accounts receivable aging, customer lists, bank details, and disclosure of any tax liens, judgments or prior factoring relationships.
Funding speed and service
Goodman makes two separate speed claims, and it helps to read them together. For new clients, it promises a 24-hour approval process and says new accounts can be activated in as little as 24 hours. For existing clients, the about page offers "same-day funding for our active clients," and the homepage's three-step summary ends with money wired the same day. The factoring FAQ is more cautious, saying approval takes 24 hours after Goodman has received your invoices. In practice, assume the first funding takes a few days of paperwork and later fundings arrive on the day you submit.
Clients get a web portal showing open invoices, payments, availability and reserves, along with a dedicated account executive. Goodman handles collections from your customers. The homepage carries two client quotes, from a staffing firm that says it has been a client for over 20 years and an apparel company that says it has been a client for more than 10. Those are testimonials Goodman chose to publish, so read them as marketing.
Goodman's homepage displays a Better Business Bureau logo with an "A+ Rating" label. We could not find the BBB profile itself to confirm the rating, its accreditation status or any complaint history, so we have not relied on it.
Who it's for
Goodman fits established small and mid-sized companies selling to other businesses on net-30 or longer terms, especially in apparel and consumer goods, distribution, manufacturing and staffing. It suits owners who want a bank-backed lender with long-tenured staff and a path from factoring to an asset-based line. Its banker page says it also takes harder cases, including startups, companies with customer concentration, businesses with past losses and companies in or near Chapter 11.
It is a weaker fit for owner-operator truckers. Its transportation page has no fuel advances, fuel card or load board, and none of the trucking-specific tools freight specialists offer. Very small businesses billing under $10,000 a month fall below the range Goodman says it targets.
Pros and cons
Pros
- Operating since 1972, with long-tenured staff and bank ownership since 2014
- Advances of up to 90% on factored invoices
- You choose which invoices to sell, with no requirement to factor your whole ledger
- Same-day funding for active clients and approval in about 24 hours
- Free credit checks on your customers and no application fee
- In-house asset-based lending, with advances on inventory as well as receivables
Cons
- No published factoring rate or fee schedule
- Recourse terms are not stated on the site
- Contract term and exit terms are described only on pages written for referral partners
- Not built for owner-operator truckers, with no fuel program
- Aimed at businesses with at least $10,000 in monthly sales
- We could not confirm the BBB rating the homepage displays
How it compares
Bay View Funding is the closest structural match: another long-running factor now owned by a bank, serving staffing, distribution and manufacturing. In our review, it publishes a starting rate and advances of 70% to 90%. 1st Commercial Credit covers a similar list of industries and prints a rate range, which makes it a useful benchmark for any Goodman quote. Liquid Capital also pairs factoring with asset-based lending, but works through locally owned franchise offices instead of a central team. Compare written proposals side by side, and use our calculator to see what each rate means for your margins.
Frequently asked questions
Who owns Goodman Capital Finance?
Goodman is a division of Independent Bank, a community bank based in the Memphis area. The bank acquired Goodman Factors in 2014, and the company took its current name in 2019.
How much does Goodman Capital Finance advance?
Its factoring page says it funds up to 90% of the invoices you sell. Its asset-based lending page cites up to 90% on receivables and up to 50% on inventory.
Do I have to factor all of my invoices with Goodman?
No. Goodman's FAQ says you choose which invoices to sell, and its homepage says it won't make you sell accounts you can't depend on.
How fast does Goodman fund?
Goodman advertises a 24-hour approval process and same-day funding for active clients. New accounts can be activated in as little as 24 hours, according to its about page.
What are Goodman Capital Finance's rates?
Goodman does not publish rates. It says pricing depends on your customers' credit quality and your monthly funding volume, and that there are no application or hidden fees.
Does Goodman offer non-recourse factoring?
Its website does not say. Ask Goodman directly, and get the answer, including which events are covered, written into your agreement.