Factor Salary in Colorado - State Average

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Average Salary for Factor in Colorado - State Average

The average salary of a(n) Factor in Colorado - State Average is $101,831.

The average hourly rate of a(n) Factor in Colorado - State Average is $48.96.

The average bonus of a(n) Factor in Colorado - State Average is $5,071.00.

Job Description:

Purchases, or factors, at a discount, 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 that 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. Less

Purchases, or factors, at a discount, 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,... More

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