12 transportation clients benefited from Riviera Finance’s non-recourse factoring programming when the transportation broker, Argo Transportation in El Paso, Tx went out of business. The transfer of risk amounted to over $60,000.00 when Riviera purchased invoices from the carriers on a non-recourse basis assuming the credit risk and subsequent credit loss.
Riviera Finance Welcomes 171 New Clients in the Second Quarter of 2013
Riviera Finance is excited to welcome 171 new clients during the 2nd 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.
Big Companies Extending Payment Terms
Big multinational companies are extending payment terms to their suppliers, as is evidenced by an article in the Wall Street Journal, “Firms Pinch Payments to Suppliers”. Procter & Gamble is one of those companies and is looking to extend their terms from 45 to 75 days. Not so amusing, is that the article offers that they are late to the game, because other large companies are offering 60-100 day terms.
What this article depicts, is that large companies can free up their cash flow and financing costs by extending terms at the expense of their suppliers. This is an unfortunate trend, and one would think that a company like P&G that made over 13 billion dollars in 2012 would not find it necessary to squeeze their valued suppliers.
Riviera Finance Welcomes 160 New Clients in the 1st quarter of 2013
Riviera Finance is excited to welcome 160 new clients during the first 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 Welcomes 172 New Clients in the 4th quarter of 2012
Riviera Finance is excited to welcome 172 new clients during the fourth 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 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 over the past 42 years and we understand your cash flow needs.
Here is a sampling of the new companies funded for the quarter.