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[Music] robin barrett founder of fsw funding gives a great definition of factoring factoring is its collateral-based lending and banks are cash flow-based lenders so were looking at the collateral specifically the accounts receivable of a business were basing our credit decision on to lend to the company based on who theyre selling to so 80 of our underwriting is on who or the credit quality of who our the company is selling to so factoring in a nutshell is invoice by invoice based financing as robin explained the factoring company advances most of the invoiced amount to your business immediately and then upon receipt of full payment from the third party gives you the remaining balance net of commission and certain fees it can also be referred to as accounts receivable financing the factor as it is sometimes referred to is more concerned with the credit worthiness of the invoice third party than the business theyre lending to this can be a relatively expensive form of financing bu
