Hoping to get some advice here.

I'm sure a lot of business' have problems with debtors not paying. This results in a lot of time and effort (costs) to get the money in. I know that you can factor your debtors book.

However I was wondering whether there isn't a kind of debtor 'financing' or invoice 'financing'? For example I invoice XYZ Bank for purchases made by ABC motors. XYZ Bank then pays me directly (minus a fee, maybe the settlement) and collect their money from ABC Motors. I cannot imagine that someone hasn't thought of this, but I cannot find anything on the interweb.

One of my suppliers actually made a similar arrangement with their customers. I upload invoices to the bank, the bank pays the supplier within 5 days. I get 60 days interest free to pay the bank, and still get my settlement. I currently have over R400k lying in 60 days and older...