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Factoring is the sale of a company's accounts receivable to obtain working capital. There are various types of factoring, and the method discussed is non-recourse full notification factoring. In this model, account debtors (customers) are informed to pay the factoring company directly instead of the supplier, shifting the credit risk of non-payment to the factoring company. This process provides clients with a form of credit insurance. The speaker has experience in SBA lending and has transitioned to factoring, clarifying that a "factoring facility" is comparable to a loan in traditional lending terminology.
