Factor accounts receivables from businesses needing operating capital.
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Quick Stats


Salary Range
$76,000 – $142,000

Data from U.S. Department of Labor

What do Factors do?

Factors accounts receivable from businesses needing operating capital: Directs collection of facts about prospective client’s business, such as credit rating of customers, evaluation of past losses, terms of sales, due dates, average amount of invoices, and expected volume and turnover of accounts receivable. Evaluates data collected to determine type of factoring plan to propose and percentage of net face value of accounts to advance which will yield favorable profit margin and alleviate client’s cash shortage. Determines charge from fee schedule. Explains factoring agreement to client. Prepares and signs contract specifying terms of agreement and rights and obligations of both parties. May provide clients with other business services, such as credit and collection services, accounts receivable bookkeeping, and management consulting, on contract or fee basis. May specialize in factoring agreements in one or more industries.

Should I be a Factor?

You should have a bachelor's degree or higher and share these traits:
  • Reliable: You can always be counted on to do a good job.
  • Detail Oriented: You pay close attention to all the little details.
  • Team Player: You're able to listen, communicate, and work with tons of different people.

  • How to become a Factor

    We recommend at least a Bachelor's degree. Check out these schools offering Factor-related education!
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