Sec. 21. (a) "Loans arising in factoring" means:
(1) a loan or extension of credit secured by one (1) or more accounts receivable; or
(2) a sale of one (1) or more accounts receivable in which the purchaser has recourse against the seller for an uncollected accounts receivable.
(b) The term does not refer to:
(1) a sale of one (1) or more accounts receivable without recourse; or
(2) an assignment of an account receivable.