Date Added: Jan 2010
Accounts receivable factoring may not be the world's oldest profession, but not far from it. This financial practice can be traced back to the Roman Empire. Invoice factoring was the dominant form of finance in the American colonies before the Revolution (mainly textile firms). Over the past few decades, consolidation has created two distinct types of factoring companies. Large, institutional-owned factors and several small, independent factoring firms dominate the industry.