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Factoring Jobs in Michigan (NOW HIRING)

Varsity Tutors

Algebra Tutor

Detroit, MI · Remote

$18 - $40/hr

Ability to explain factoring techniques, completing the square, quadratic formula applications, and graphing functions while preparing students for algebraic reasoning and problem-solving in ...

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All JobsFactoring JobsFactoring Jobs in Michigan

Factoring information

See Michigan salary details

$16.6K

$67.4K

$98.5K

How much do factoring jobs pay per year?

As of Jul 2, 2026, the average yearly pay for factoring in Michigan is $67,381.00, according to ZipRecruiter salary data. Most workers in this role earn between $53,600.00 and $72,800.00 per year, depending on experience, location, and employer.

What jobs make $1,000,000 a year?

In factoring or finance-related roles, high-level positions such as hedge fund managers, private equity partners, and investment bankers can earn $1,000,000 or more annually through salaries, bonuses, and profit sharing. These jobs typically require advanced degrees, extensive experience, strong analytical skills, and often involve high-pressure environments and long hours.

What Are Factoring Companies?

Factoring companies buy invoices and accounts receivable from other businesses and then undertake the collection process. They often pay only a fraction of the value of an invoice, as companies are often willing to sell at a loss to maintain cash flow and finance strategic business initiatives. Factoring companies are active in a variety of industries, and a corporation can benefit from factoring for several reasons. For example, staffing companies sometimes use factoring to remain solvent while awaiting payment from their clients, while tech companies may use it to generate funding while a project is in development.

What are the main challenges faced by professionals working in factoring operations, and how can they prepare for them?

Professionals in factoring often face challenges such as evaluating client creditworthiness, managing cash flow risks, and maintaining strong client relationships. The role requires careful attention to detail and the ability to quickly assess financial documents. To excel, candidates should develop strong analytical skills, stay current with regulatory changes, and be proactive in communication with both clients and internal teams. Building expertise in risk management and negotiation also helps in overcoming day-to-day obstacles.

What is a factoring job?

A factoring job involves managing accounts receivable by purchasing unpaid invoices from businesses at a discount, providing immediate cash flow. Professionals in this field analyze creditworthiness, negotiate terms, and use financial software to process transactions. It is common for factoring specialists to have a background in finance or accounting and to work in financial services environments.

What is the difference between Factoring vs Accounts Receivable Specialist?

AspectFactoringAccounts Receivable Specialist
Primary RolePurchasing receivables from businesses to provide immediate cashManaging and collecting outstanding customer invoices
CredentialsNo specific certifications required, but financial knowledge helpsAccounting or finance certifications often preferred
Work EnvironmentFinancial institutions, factoring companiesCorporate finance, accounting departments
Industry UsageFinance, lending, factoring servicesBusiness, finance, accounting sectors

Factoring involves purchasing receivables to improve cash flow, while Accounts Receivable Specialists focus on managing and collecting invoices. Both roles are essential in financial operations but serve different functions within the cash flow management process.

What is factoring in finance?

Factoring is a financial transaction in which a business sells its accounts receivable (invoices) to a third party, called a factor, at a discount. This allows the business to quickly receive cash, rather than waiting for customers to pay their invoices. Factoring is commonly used by companies that need to improve cash flow or manage operations when customers have long payment terms. The factor assumes the responsibility of collecting payments from the business's customers. Factoring can be a useful tool for small and medium-sized businesses to meet short-term financial needs.

What are the key skills and qualifications needed to thrive as a Factoring Specialist, and why are they important?

To thrive as a Factoring Specialist, you need solid knowledge of finance, accounts receivable management, and risk assessment, typically backed by a degree in finance, accounting, or business. Familiarity with factoring software platforms, credit analysis tools, and financial reporting systems is often required. Strong analytical thinking, attention to detail, and effective client communication skills help you excel in client relations and fraud prevention. These skills ensure accurate evaluation of receivables, minimize risk, and support efficient cash flow solutions for clients.

What are the top 5 factoring companies?

Factoring companies provide accounts receivable financing to businesses, with leading firms including BlueVine, Fundbox, Riviera Finance, TCI Business Capital, and CIT Commercial Services. These companies offer quick funding solutions, often requiring minimal collateral and supporting industries like manufacturing and transportation. Job seekers in factoring roles should have strong financial analysis skills and familiarity with credit assessment tools.

What jobs pay 500,000 a year in the US?

In the field of factoring or finance, senior roles such as chief financial officers, investment bankers, and private equity executives can earn annual compensation of $500,000 or more, often including bonuses and stock options. These positions typically require extensive experience, advanced degrees, and strong industry networks. High-level sales and executive roles in related financial services may also reach this income level.
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Factoring jobs near you

Owner-Operator Box truck OTR Non Cdl - Quick Pay, be payed every 48hrs

ATOM LOGISTICS INC

Sterling Heights, MI • On-site

$5.5K - $8.0K/wk

Full-time

Posted 26 days ago

Be an early applicant

Job description

NON CDL Box Truck Owner-Operator (OTR) – $5,500 - $8000 Weekly

We are seeking committed contractors to run one of the OTR routes available. 

What We Offer:

  • Weekly gross earnings: $5,500 – $8000
  • 12% company service fee with factoring included
  • Owner-operators take 88% of the gross
  • Onboarding in as little as one day
  • You may run under our MC flexible partnership
  • Fuel card program with a great discount
  • Sign-on bonus available
  • Clean DOT inspection bonus
  • General freight – mostly no-touch
  • Assistance in acquiring your own MC

Support:

  • No forced dispatch
  • No factoring fees
  • OTR freight across 48 states
  • 2-3 weeks out
  • Fuel card program with discounts
  • Sign-on bonus available
  • Clean DOT inspection bonus
  • 24/7 ELD and safety support

Requirements:

  • 24’ or 26’ box truck (model year 2013 or newer)
  • At least 6 months of verifiable OTR experience
  • Regular driver's license - Non-CDL 
  • No more than 1 moving violation in the past 2 years

Reach us today at 872-259-1406 to find out the best available work for you!