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6/18/2013 @ 23:38:54
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By EQUITY TIPS
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 Financeís 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 Financeís 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.
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.
In many instances, a company will seek to factor accounts to cash flow their business, but the added value of non-recourse factoring should not be discounted, especially during these difficult economic times. Essentially, non-recourse factoring assumes the credit risk when the factor purchases invoices from the client and the customer cannot pay the bills for credit related reasons.
In comparison, you should find the credit support to be much greater with a non-recourse factor because they have a vested interest in the credit decision, as opposed to a recourse factor that will require the client to reimburse the factor for any credit loss.
On March 10, The Wall Street Journal Online published an article about non-recourse factoring. According to the article, "Whereas banks focus on a businessís creditworthiness in considering whether to make a loan, factors look at the financial soundness of a businessís customers. As a result, firms with scant credit history may be able to sell their invoices." Click here for the whole story.
Call Riviera Finance today to see how factoring can help your business grow.
The benefit of a client factoring an invoice on† a non-recourse basis becomes recognized when the customer files for bankruptcy, as is the case with Palm Harbor Homes, or goes out of business because the factor is assuming the credit risk. In most instances, you will find the credit support much greater with a non-recourse factor because they have a vested interest in the credit decision as opposed to a recourse factor that will require the client to reimburse the factor for any credit loss.