👉 A factorship is a legal concept that refers to a person who borrows money from another person in order to pay back the borrowed amount. The borrower agrees to repay the loan at a later date, and the lender receives interest on the principal balance as well as any additional fees or charges associated with the borrowing process. In essence, a factorship is a type of debt arrangement where one party has borrowed money from another for their own use and the other party agrees to pay back the amount borrowed in
