Why might businesses choose factoring for short-term financing?

"appliance industries. Factoring is more expensive than a bank loan, however, because the factor buys the receivables at a discount from their actual value. Exhibit 16.3 For businesses with steady orders but a lack of cash to make payroll or other immediate payments, factoring is a popular way to obtain financing. In factoring, a company sells its invoices to a third-party funding source for cash. The factor purchasing the invoices then collects on the due payments over time. Trucking companies with voluminous accounts receivable in the form of freight bills are good candidates for the use of short-term financing such as factoring. Why might firms choose factoring instead of loans? (Credit: Mike’s Photos/ flickr/ Creative Commons Zero (CC0) license)"