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Factoring is the sale of a company's accounts receivable to obtain working capital. There are various types of factoring; the one described, provided by the speaker's company, is called non-recourse full notification factoring. This means that customers (debtors) are notified to pay directly to the factoring company instead of their supplier, transferring the credit risk of non-payment to the factoring company. This process essentially offers clients a form of credit insurance on their receivables. The speaker has a background in SBA lending and has transitioned into factoring, aiming to bridge the understanding between traditional loans and factoring, with a factoring facility being the comparable term to a loan in this context.
