Riviera Finance Appearing at South Texas Oilfield Expo

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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!

Riviera Finance Opens Invoice Factoring Office in Oklahoma City

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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!

Riviera Finance Clients Recognize the Value of Non-Recourse Factoring

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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.

Riviera Finance Provides Solution to Slow-Payment Trend

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Some recent trends from the front lines of small business:
  • 64% of larger companies are paying their bills in 60+ days (Wall Street Journal)
  • Bill-paying is done at an average of 7.6 days overdue, up 14.1% over last year (Experian study)

Here at Riviera Finance, we’re countering the trend, receiving payment from our debtors in only 31 days, one day faster than last year.

The message is clear: the need for immediate working capital is stronger than ever, and Riviera Finance’s factoring services are delivering positive results.

The Problem. The recession ushered in a policy shift among many large companies to slow their payment speed to their smaller creditors. This tactic has not abated despite the overall improvement of the economy. Larger companies learned that it’s effective to stretch payment on invoices to 60 or 90 days or more, and their small-company associates simply capitulate because they lack the resources to fight.

A study conducted by the credit bureau Experian found: “…businesses earlier this spring were paying bills an average of 7.6 days past due, a 14.1% increase from the same period last year. The biggest companies in the study–those with more than 1,000 employees–had the sharpest year-over-year increase in late-payment days, up nearly 28%…”

The Solution. While small businesses may lack the resources to fight this trend, there are things they can do to thrive despite the challenge. One often untapped resource for small business is invoice factoring. Instead of waiting a growing period of 40 or 50 days or more get paid, by selling its invoices to Riviera Finance, a small business can access cash immediately. Factoring provides this quick cash without creating debt (it isn’t a loan), and without the long and often futile process of applying with a bank. In fact, even business owners whose personal credit is less than sterling very often qualify.

Rivera Finance offers nonrecourse factoring, which provides a credit guarantee, meaning that our customers retain the cash advanced to them, even if Riviera Finance doesn’t collect from its debtors. This helps our clients eliminate bad debt, and by tapping into our experience and credit database, they can choose their future customers more carefully and weed out the high-risk opportunities.

Riviera’s credit services are so effective at eliminating high-risk companies from the equation, and our collection processes are so streamlined, that we buck the slow-payment trend reported by The Wall Street Journal. Our debtors pay us in about the same amount of time as they have in years past.

For the full Wall Street Journal article, click here: http://online.wsj.com/article/SB10001424052702303296604577450561434496668.html

Riviera Finance Welcomes 170 New Clients During the First Quarter

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Riviera Finance is excited to welcome 170 new clients during the first 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 during the first quarter of 2012.

A $50,000.00 account limit on a trucking company in Manitoba, Canada.

A $300,000.00 account limit on a Modular Building Repair company in Louisiana.

A $500,000.00 account limit on an environmental testing company in Virginia.

A $250,000.00 account limit on a software developer in Ohio.

A $250,000.00 account limit on a metal fabricator in North Dakota.

A $75,000.00 account limit on a trucking company in Maine.

A $1,000,000.00 account limit on a tank truck carrier in British Columbia.

A $200,000.00 account limit on a concrete product manufacturer in Illinois.

A $100,000.00 account limit on a strategic development company in Colorado.

A $300,000.00 account limit on a clothing designer in California.