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.
Often times, the value of non-recourse factoring is under estimated, but when extending credit terms to a customer there is a varying degree of credit risk. For a trucking company, evaluating a customer’s credit worthiness 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.