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Factoring is when a business sells its invoices or receivables to a third-party financial company who collects payments from the business's customers. Companies choose this route so they can receive cash quickly on their receivables rather than waiting the standard 30 to 60 days. This method also makes it easy for companies to meet obligations such as paying employees and processing customer orders in a timely manner (Factoring, 2019.sec.1).
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Question : What Is A Factoring Company? (2019).
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