better banking
Invoice Factoring
Access more capital with full flexibility
Get larger credit limits
Get a credit line based on the strength of your customers. As your sales grow, so can your credit limit.
Fund only what you want
You decide how many and which invoices to submit. Fund only what you need, when you need, without long-term contracts.
Free up your cash
Unlike a traditional loan, there are no recurring payments when your customer pays by the invoice due date.
Transparent fees
Know exactly what you’re paying with our straightforward fees. We charge a simple weekly fee due when the invoice is paid.
How it works
Apply Online
Apply in less than 10 minutes with basic details about your business and customers.
Get approved
Goodbank will review your application and reach out with a decision in as fast as 24 hours.
Submit an invoice
Automatically sync invoices from your accounting software or upload invoices to your dashboard.
Get your advance
We provide ~85-90% of the money upfront. You get the rest, minus our fee, once the invoice is paid.
Line of Credit
Fast working capital made simple
Funds available on demand
Enjoy peace of mind by having money available for any business expense. Draw funds with a click of a button.
Access to a revolving line
Draw as little or as much as you want from your available credit. Your credit line replenishes as you make repayments.
Only pay for what you use
No fees to open or maintain your line. No prepayment fees, monthly maintenance fees, or account closure fees.
Financing that grows with you
We support your business growth by getting you the right credit line for your business size at any stage.
How it works
Apply Online
Provide us basic information about your business and get approved in as fast as 5 minutes.
Draw funds
Use your online dashboard to request funds, and get cash in your bank account within hours.
Make repayments
Pay back each draw with fixed monthly or weekly payments over 6 or 12 months.
Access more funds
As you pay off your balance, your available credit is automatically replenished.
About the paycheck
protection program
The Paycheck Protection Program (PPP) supported small businesses with 100% federally guaranteed loans to overcome obstacles created by the COVID-19 pandemic. Small businesses could apply for up to 2.5x their monthly payroll costs, or more in certain circumstances. A PPP loan had a maturity of 2-5 years, an interest rate of 1.00%, and could function like a grant if businesses met certain forgiveness criteria.
PPP borrowers don’t need to repay their loan if it is forgiven. To be eligible for forgiveness, a PPP borrower has up to 24 weeks from their PPP loan origination date to spend the loan on eligible expenses. At least 60% of the PPP loan must be used to fund payroll and employee benefits costs. The remaining 40% can be spent on certain expenses like mortgage interest payments, rent and lease payments, utilities, and others. If you meet these and other criteria, you’ll be able to have 100% of the loan forgiven.
Small Business Administration (SBA) Lending
Our SBA loan specialists can help you take advantage of the following goverment-backed loan programs.
