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Non-recourse invoice factoring has benefited a temporary staffing agency client when Constar Plastics filed for Chapter 11 bankruptcy. The transfer of risk amounted to over $187,000.00 when Riviera Finance purchased invoices from the staffing company on a non-recourse basis, assuming the credit risk, and subsequent credit loss.

Often times, the value of non-recourse factoring is under estimated, but when extending trade credit to a customer there is a varying degree of credit risk. In this instance, the staffing agency’s customer, Constar Plastics lost a contract with Pepsico and eventually filed for bankruptcy.

With Riviera Finance’s non-recourse factoring program credit management is not taken for granted, but considered a major component of service. A Riviera Finance client will find unparalleled support in the credit management provided to them, including credit evaluation on the customer, automated credit decisions through Fastcredit, invoice collection, and assumption of credit risk. These are very tangible benefits of Riviera Finance’s non-recourse factoring program that demonstrate a vested interest in the accounts purchased, and also a deep rooted understanding on how difficult it is for a small business to absorb a credit loss.
 
Riviera Finance is excited to welcome 190 new clients during the third quarter of 2013. Whether you have chosen Riviera Finance because we offer non-recourse factoring, provide the highest advance rates in the industry, offer the most competitive rates, or have been highly referred, we aim to provide you with the best customer service in the industry. Riviera Finance has been dedicated to factoring small businesses since 1969 and we understand your cash flow needs.

Here is a sampling of the new companies funded for the quarter.

A $200,000.00 account limit for a trucking company in Texas.

A $100,000.00 account limit for an auto glass repair company in California.

A $200,000.00 account limit for an oil & gas service provider in Alberta, Canada.

A $100,000.00 account limit for a trucking company in Ontario Canada.

A $1,500,000.00 account limit for a crane company in North Dakota.

A $100,000.00 account limit for an industrial manufacturer in Illinois.

A $100,000.00 account limit for an oil & gas service provider in Colorado.

A $1,000,000.00 account limit for a construction company in Georgia.

A $100,000.00 account limit for a pallet manufacturer in North Carolina.

A $100,000.00 account limit for a food processor in Florida.

A $100,000.00 account limit for a demolition company in Pennsylvania.
 
By CorpDev (on 9/26/2013 @ 16:24:51, in Small Business, read 1714 times)

From September 10-12, Riviera Finance sponsored and attended the annual conference of America's Small Business Development Centers, held at the Peabody Hotel in Orlando, FL. Over 1,000 directors and counselors of SBDCs from around the US and other countries attended the event for the purpose of gathering and sharing information to support small business. For more information on the conference and the ASBDC, click here.

For information on local Small Business Development Centers in your state, visit our SBDC page.
 
12 transportation clients benefited from Riviera Finance's non-recourse factoring programming when the transportation broker, Argo Transportation in El Paso, Tx went out of business. The transfer of risk amounted to over $60,000.00 when Riviera purchased invoices from the carriers on a non-recourse basis assuming the credit risk and subsequent credit loss.

Often times, the value of non-recourse factoring is under estimated, but when extending credit terms to a customer there is a varying degree of credit risk. For a trucking company, evaluating a customer’s credit worthiness is often difficult to navigate because most of the arranged freight comes through transportation brokers and it is estimated that there are over 10,000 transportation brokers that exist in North America.

With Riviera Finance’s non-recourse factoring program credit management is not taken for granted, but considered a major component of service. A Riviera Finance client will find unparalleled support in the credit management provided to them, including credit evaluation on the customer, automated credit decisions through Fastcredit, invoice collection, and assumption of credit risk. These are very tangible benefits of Riviera Finance’s non-recourse factoring program that demonstrate a vested interest in the accounts purchased and also a deep rooted understanding on how difficult it is for a small business to absorb a credit loss.
 
Riviera Finance is excited to welcome 171 new clients during the 2nd quarter of 2013. Whether you have chosen Riviera Finance because we offer non-recourse factoring, provide the highest advance rates in the industry, offer the most competitive rates, or have been highly referred, we aim to provide you with the best customer service in the industry. Riviera Finance has been dedicated to factoring small businesses since 1969 and we understand your cash flow needs.

Here is a sampling of the new companies funded for the quarter.

A $200,000.00 account limit for a courier service in Ontario, Canada.

A $50,000.00 account limit for a temporary staffing company in Alabama.

A $600,000.00 account limit for a catering service in California.

A $250,000.00 account limit for a commercial sealing and plowing service in New York.

A $250,000.00 account limit for a trucking company in Illinois.

A $700,000.00 account limit for a logistics company in Colorado.

A $100,000.00 account limit for a metal fabrication company in Texas.

A $150,000.00 account limit for an IT consulting company in Oregon.

A $250,000.00 account limit for an electrical contractor in North Dakota.
 
By Michael Bartels (on 4/19/2013 @ 11:56:01, in Cash Flow, read 3291 times)

Big multinational companies are extending payment terms to their suppliers, as is evidenced by an article in the Wall Street Journal, “Firms Pinch Payments to Suppliers”. Procter & Gamble is one of those companies and is looking to extend their terms from 45 to 75 days. Not so amusing, is that the article offers that they are late to the game, because other large companies are offering 60-100 day terms.

What this article depicts, is that large companies can free up their cash flow and financing costs by extending terms at the expense of their suppliers. This is an unfortunate trend, and one would think that a company like P&G that made over 13 billion dollars in 2012 would not find it necessary to squeeze their valued suppliers.

In effect, the concept of a trade payable is that it is an unsecured transaction and essentially works off a handshake agreement that the customer will provide payment to the supplier in a timely fashion. Unfortunately, big businesses have the ability to disregard this code of conduct and extend terms.

For P&G, their solution is to provide their supplier a means to get paid quicker by having their invoices discounted by a bank and be paid within 15 days. It is estimated the implementation of this plan will take up to 3 years. What is curious, is how are the suppliers suppose to address these extended terms in the mean time? Another concern will be if all suppliers, big and small alike, will qualify for invoice discounting? While these concerns are relevant, probably the biggest concern for a small business is still trying to bridge the 15-day payment gap. As this article depicts, cash flow is king to large companies, so it must also be very important to small businesses as well. Unfortunately, the small business just does not have the same luxury to extend payment terms and so another solution must be found.

Riviera Finance is a company that is not so unfamiliar with invoice discounting and has been doing so since 1969. The terminology is known as factoring, but unlike the banks getting involved strictly to earn a fee by only discounting the invoice Riviera Finance provides complete accounts receivable management. Riviera Finance will not only provide cash on the invoice within 24 hours, but also manage that account from start to finish, and assume the credit risk. The program is all encompassing and includes invoice mailing, collection management, credit management, cash application, reporting, and a credit guarantee. These value-added services provided by Riviera Finance can free up the limited human resources at a small business. This in turn will allow the small business to direct their attention to the growth components of their company such as sales, service, and production.

In the end, there are options for the small business to manage their trade receivables.
 
Riviera Finance is excited to welcome 160 new clients during the first quarter of 2013. Whether you have chosen Riviera Finance because we offer non-recourse factoring, provide the highest advance rates in the industry, offer the most competitive rates, or have been highly referred, we aim to provide you with the best customer service in the industry. Riviera Finance has been dedicated to factoring small businesses since 1969 and we understand your cash flow needs.

Here is a sampling of the new companies funded for the quarter:

A $100,000.00 account limit for an auto body repair shop in Wisconsin.

A $250,000.00 account limit for an IT consulting company in Utah.

A $150,000.00 account limit for an oilfield service company in Texas.

A $250,000.00 account limit for an oilfield service company in North Dakota.

A $50,000.00 account limit for a janitorial service in California.

A $180,000.00 account limit for transportation company in Florida.

A $250,000.00 account limit for a building service company in Minnesota.

A $150,000.00 account limit for trucking company in New Brunswick, Canada.

A $250,000.00 account limit for an IT consulting company in Georgia.

A $500,000.00 account limit for a distributor in Arizona.

A $300,000.00 account limit for a water hauler in Alberta, Canada.
 
Riviera Finance is excited to welcome 172 new clients during the fourth quarter of 2012. Whether you have chosen Riviera Finance because we offer non-recourse factoring, provide the highest advance rates in the industry, offer the most competitive rates, or have been highly referred, we aim to provide you with the best customer service in the industry. Riviera Finance has been dedicated to factoring small businesses over the past 42 years and we understand your cash flow needs.

Here is a sampling of the new companies funded for the quarter.

A $100,000.00 account limit for a security guard service in New York.

A $350,000.00 account limit for an IT consulting company in California.

A $100,000.00 account limit for a staffing company in Texas.

A $250,000.00 account limit for a welding company in North Dakota.

A $100,000.00 account limit for a transportation company in Texas.

A $100,000.00 account limit for architecture company in Illinois.

A $100,000.00 account limit for a cleaning service in Illinois.

A $500,000.00 account limit for an internet sales company in Idaho.

A $100,000.00 account limit for a parts distributor in Connecticut.

A $700,000.00 account limit for a 3rd party logistics company in California.

A $100,000.00 account limit for a trucking company in Ontario, Canada.

A $150,000.00 account limit for a staffing company in Georgia.

A $100,000.00 account limit for a Oil and Gas servicing company in Oklahoma.
 
Eleven transportation clients benefited from Riviera Finance's non-recourse factoring programming when the transportation broker, Eleets Transportation went out of business. In essence, the non-recourse purchase of the invoices allowed the clients to transfer the credit risk and subsequent credit loss to Riviera Finance.

Often times, the value of non-recourse factoring is under estimated, but when extending credit terms to a customer there becomes a varying degree of credit risk. For a trucking company, the credit risk is often difficult to navigate because most of the arranged freight comes through transportation brokers and it is estimated that there are over 10,000 transportation brokers that exist in North America.

With Riviera Finance’s non-recourse factoring program credit management is not taken for granted, but considered a major component of service. A Riviera Finance client will find unparalleled support in the credit management provided to them, including credit evaluation on the customer, automated credit decisions through Fastcredit, invoice collection, and assumption of credit risk. These are very tangible benefits of Riviera Finance’s non-recourse factoring program that demonstrate a vested interest in the accounts purchased, and also a deep rooted understanding on how difficult it is for a small business to absorb a credit loss.
 
Riviera Finance is excited to welcome 197 new clients during the third quarter of 2012. Whether you have chosen Riviera Finance because we offer non-recourse factoring, provide the highest advance rates in the industry, offer the most competitive rates, or came highly referred, we aim to provide you with the best customer service in the industry. Riviera Finance has been dedicated to factoring small businesses over the past 42 years and we understand your cash flow needs.

Here is a sampling of the new companies funded for the quarter.

A $100,000.00 account limit for a security guard service in California.

A $200,000.00 account limit for a furniture wholesaler in North Carolina.

A $120,000.00 account limit for a landscaping services in Florida.

A $250,000.00 account limit for a research company in Ontario, Canada.

A $250,000.00 account limit for a security installation company in Minnesota.

A $500,000.00 account limit for a water hauler in Texas.

A $150,000.00 account limit for a trucker in Illinois.

A $300,000.00 account limit for an automotive supplier in New Jersey.

A $50,000.00 account limit for a maintenance company in Tennessee

A $50,000.00 account limit for an appraisal company in Washington.
 
By Jeff Suhs (on 9/17/2012 @ 10:51:40, in Riviera News, read 1854 times)

Riviera Finance will be exhibiting at the South Texas Oilfield Expo this Wednesay and Thursday, September 19 & 20 in Corpus Christi.

Drop by booth #1422 and say hi to Josie Ramirez, Business Development Manager, and Jennifer Whittenburg, Operations for our Houston office.

If you're interested in attending, be sure to give Josie a call at 800-874-0149 and ask about the free pass to the expo.

Riviera Finance is a key contributor to the growth of the region, providing invoice factoring services to small businesses throughout Texas, including many service providers in the Eagle Ford energy fields.

For more information, visit the expo's official Web site here:  www.southtexasoilfieldexpo.com

We hope you can make it!

 
By Jeff Suhs (on 9/5/2012 @ 09:50:33, in Riviera News, read 1973 times)
Invoice factoring just became easier for entrepreneurs throughout Oklahoma!

Riviera Finance has opened its doors to its newest office, in Oklahoma City:

4334 Northwest Expressway
Suite 242
Oklahoma City, OK  73116
405-286-3466

Riviera has been providing accounts receivable factoring to businesses across U.S. for well over 40 years.  Our hallmark is our personalized, face-to-face service, and we're excited to include Oklahoma City on the growing roster of two dozen cities we call home. 

By factoring its invoices, a business can tap into a steady source of cash immediately, providing capital for growth, to meet payroll, or satisfy a host of other needs.  Because it's not a loan, there is no debt incurred, the application process is far faster than with a bank, and even those with less-than-sterling personal credit can often be approved.  Plus, Riviera's nonrecourse factoring program guarantees the credit on the invoices we buy.  This allows a business to eliminate bad debt, and use Riviera's credit database to more carefully choose its clients in the future.

If you're in the area, stop by the office and meet Jennifer Hughes, our Customer Service Rep and tap into your new cash flow today!
 
In August, eight clients directly benefited from Riviera Finance’s non-recourse factoring program when Riviera Finance submitted just over $101,000.00 for write-off. The non-recourse benefits extended to a trucking client in Southern California where Riviera Finance absorbed a $48,000.00 credit risk. In Dallas, where Riviera Finance absorbed a $26,400.00 credit risk for another trucking client, and in Chicago where Riviera Finance absorbed a $9,000.00 credit risk for a staffing agency.

Often times the value of non-recourse factoring is under estimated, but for many small businesses a write-off is difficult to absorb and may even force a company out of business.

It makes one wonder why there is not a greater emphasis placed on the value of non-recourse factoring, because when a write-off hits it hurts?

Riviera Finance has been providing the benefits of non-recourse factoring to their clients for over 40 years by assuming the credit risk on their customer, the account debtor.
 
By Jeff Suhs (on 7/26/2012 @ 11:10:07, in Riviera News, read 1879 times)
Nashville joins the growing list of over 20 cities across North America to boast a local Riviera Finance office. 
 
Our recently opened Brentwood, Tennessee location is helmed by Mr. Tony Oliphant, who comes on board as Business Development Manager for both Tennessee and Kentucky.   No other invoice factoring company provides the mix of experience and local, face-to-face service that Riviera offers, and we are excited at the opportunity to play a key role in the growth of small businesses in Nashville, Memphis, Louisville and other burgeoning markets across this great territory.
 
For more information on our nonrecourse factoring programs, or to contact Tony directly, visit us here: Riviera Finance Nashville Office.
 
By Jeff Suhs (on 7/26/2012 @ 09:53:05, in Riviera News, read 2064 times)
Riviera Finance is excited to announce the opening of our invoice factoring office in Pittsburgh, Pennsylvania. The expansion of oil and gas service providers in the Marcellus and Utica shale plays, and the many thriving business communities throughout western Pennsylvania, New York, Ohio and West Virginia, present Riviera with a host of new business relationships that we’re eager to explore.
 
Joining our rapidly growing Riviera team is Mr. Jay Leasher. Jay will helm our new Pittsburgh location as Business Development Manager. He brings to Riviera a long and rich background in the oil and gas industry, and his experience within the region allows Riviera to extend to local businesses the customized, personal service for which we’re renowned.
 
For more information on Riviera’s pioneering factoring programs, visit us online here: Riviera Finance Pittsburgh. Or you can contact Jay at 412-447-5090.