FAQs & Glossary

Abstract - A floating lien. An abstract is a filing that allows an individual or company to place lenders or appropriate concerns on notice that a debt is due but has not been satisfied.

Account Creditor - The individual or company which requests the asset-based loan and is generally the recipient of the cash from the lender.

Account Debtor - The individual or company that is liable for a debt created by the acceptance of goods or services from the account creditor

Account Receivable - A debt owed from an account debtor to an account creditor as a result of goods sold or services rendered.

Accounts Receivable Factoring - Purchasing the debt owed to an account debtor to a company.

Accounts Receivable Financing - A loan secured by the debt from an account debtor and other assets of a company.

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