We’re very pleased to announce that Colin Dido has been named Business Development Manager for Central and Eastern Canada. Effective immediately, Mr. Dido is responsible for serving new factoring prospects and originating business through our Mississauga, Ontario office. Colin Dido brings a wealth of experience supporting small to medium sized businesses across a variety of industries, most recently as a business development professional for a major logistics company.
Small Business Lending at Highest Level Since 2007
The Thomson Reuters/PayNet Small Business Lending Index rose to 120.4 in October, its highest level since August 2007. This is generally seen as a positive leading indicator for the U.S. economy, as small businesses step up their borrowing to handle growth in orders. Supporting this trend, PayNet also reports that delinquencies as a percent of loans set a record low in October.
When Selling Receivables Makes Sense
An alien from an all-cash planet would gaze in wonder at the trade credit system that runs the Earthly economy. Let’s review:
Jack Brown invests his life savings to open a surfboard manufacturing business, MI Board, Inc. It does well, attracting the interest of the media, surfers and retailers. A few small shops in California put his boards on consignment. They turn some heads, win some competitions, and MI lands $300,000 in initial orders from Becker, RonJon’s and HSN. Cool.
After celebrating, Jack reads the purchase orders from his new customers.
Riviera Finance Welcomes 190 New Clients in the Third Quarter of 2013
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.
Riviera Finance Sponsors National Small Business Conference
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.