Thursday, July 21, 2011

What is is the loan that a bank gives to a company based on a IOU note that a client is going to pay?

For example Company X owes Company Y money for services provided, but Company X will pay in 6 months and Company Y needs the money now, so the bank gives Company Y the money that Company X owes making thus Company X's bill payable to the bank. What's the name of that kind of loan?

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