Consider invoice factoring with Riviera Finance as a backup source of cash flow.
“Waiting to get paid” is the not-so-new normal in the world of business. In the U.S., companies take an average of 38 days to pay their bills. In some industries, the wait is much longer.
But to the business owner, the waiting isn’t the hardest part. Guessing when the customer will actually pay is the real challenge.
Among the many reasons businesses don’t get paid on time, here are a few:
- customer cash flow issues (yes, customers have them too)
- customer cash flow management (float on your money)
- seasonal workload issues
- customer staff changes
- invoicing errors
- lost or misplaced invoices
- insufficient or inaccurate backup documentation
- vendor preferences
Most likely, none of the above show up in the business plan! Uncertainty of getting paid is one of the most common variables in small business, and a major cause of critical cash flow shortages. But the only real way to avoid the impact of payment delays is to have a backup source of cash available.
Many businesses use non-recourse invoice factoring as a backup cash flow source. It’s easy to get set up, and extremely flexible to the needs of the business. When cash flow is needed, customer invoices can be submitted for payment and funded within 24 hours. No debt is created, and there are no minimum funding obligations. As a backup source, the invoice factoring line puts control back into the hands of the business owner without taking any payment flexibility away from the customer.
Take the stress out of guessing. Set up an invoice factoring account with Riviera Finance today.
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.