11 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.