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Factoring Broker
A factoring broker is
either a company or person who takes your
companies receivable invoices to either a
financing firm that specializes in factoring or
does it on their own as a self contracting
broker. The broker then
finds a company that is interested in buying
your receivable invoices.
The most accommodating way
of doing this is through having firms bid on the
accounts receivable packages. The company that
buys the package is known as the factor. The
money or financing that is received from the
firm that bought their receivable package for a
nonrecourse basis is known as factoring.
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