Factoring
Selling outstanding invoices to a third party at a discount for immediate cash.
Distinct from an advance: factoring buys specific existing receivables, while an advance buys a share of future ones. Common in trucking, and it matters because a carrier who factors has already assigned the receivables an advance would draw on.
Why it matters to a broker
Ask about factoring before positions on a trucking file. Finding it at underwriting rather than qualification wastes the submission.
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