Why would firms that rely heavily on credit sales find factoring attractive?

From my understanding, factoring is a specific transaction in which a business sells its invoices to a factor, which is a third party commercial financial company. This process is completed so that the business can get cash quicker than it would to wait for a customer’s payment. With factoring, a company will have more more more flexibility because the funds are not restricted, rather than having to deal with a typical bank loan