Several transportation clients have benefited from Riviera Finance’s non-recourse factoring programming when the transportation brokers, Great Bear Transport, Quebec, Inc, and Tropical Logistics went out of business. The transfer of credit risk was assumed by Riviera when invoices were purchased from the carriers on a non-recourse basis. Riviera then assumed the credit loss.
Often times the value of non-recourse factoring is seen as less important when given a choice of a lower rate on a recourse basis. In some instances that argument may be valid, but such a choice requires a business to analyze the credit risk and evaluate the customer’s credit worthiness beyond just making an assumption. As well, it may be realized that non-recourse factoring is only nominally more expensive, if at all, and having what amounts to insurance coverage can provide more than just peace of mind.
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.