Transactions in which a business either sells its accounts receivable to a financial institution (often called a factor) or borrows money by pledging its accounts receivable as collateral.

在这种交易中，企业或者把应收账款卖给金融机构(也叫代理商)，或者以应收账款作为抵押品来借款。

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For commercial loans, companies that are not bank eligible often turn to asset-backed lenders, pledging inventories and accounts receivable or leasing equipment rather than purchasing it.

FORBES: Credit Availability Forecast: 2012-2014