Frequently Asked Questions About Invoice Factoring Services
The following are frequently asked questions about invoice factoring services and how the factoring process works as it pertains to Riviera Finance.
Riviera Finance has been helping small businesses with financial problems or cash flow issues for more than 50 years with 25+ locations in the United States and Canada. Our invoice factoring specialists want to address any and all questions you might have regarding our finance program – contact us online or call us at 1-800-872-7484.
Factoring is the purchase of accounts receivable for immediate cash. Factoring gives businesses the power to ensure growth without diluting equity or incurring debt.
Riviera serves a wide range of industries, including trucking, temporary personnel agencies, printing companies, manufacturers, wholesalers, and many service industries such as janitorial and armed guard services. Most any business that sells a product on terms not exceeding 60 days can use factoring.
Riviera serves companies from start-up to $2 Million in monthly sales.
No. Riviera serves clients in all 50 states and Canada.
Riviera purchases credit-worthy invoices from anywhere in the US and Canada.
Yes, we’re more than happy to provide references once we have received a completed application package.
No. Riviera requires no start-up fees.
Normally between four and seven working days is enough to get a client funded. We are generally able to give preliminary approvals within 24-48 hours via a term sheet that details the basic terms of factoring. Keep in mind that there is a verification process that Riviera must perform on the invoices that are submitted to us for financing. In some cases, the time required to verify these invoices is the driving factor behind getting the funding in a timely manner.
No. Riviera can assist emerging as well as mature companies. Even recent start-ups are not a problem in most cases, as long as there are verifiable accounts receivable.
Invoicing and Collections
No. You are always free to decide which invoices to factor.
Yes. Riviera requires a first position on all accounts receivable while you are factoring.
Our standard term is six months. However, we can adjust the term to meet the needs of the client.
Riviera is pleased to present Riviera Online Account Management, or ROAM for short. ROAM allows you to access your complete account history securely using the Internet at any time day or night. In addition, you will be assigned to a professional Account Executive who will be your direct contact for any questions you have.
When Riviera purchases an invoice, it is stamped with our address before being mailed to the customer.
Riviera can transfer funds by ATF or wire to your account, send a check through any overnight service or US mail, or you can obtain a check in person.
Riviera funds all verified invoices submitted on pre-approved debtors within 24 hours of receipt. If the debtor has not been pre-approved for purchase, we will try to fund those invoices as fast as possible, usually within 24 hours as well. This kind of quick turn around is the reason many businesses use Riviera. This is also why Riviera has become the largest privately held factoring company in North America, and one reason we are viewed as the industry leader.
Learn More About Invoice Factoring Services
If you need cash now, see how you can get started with Riviera Finance
- Become a Riviera client
- Factor Your Invoice(s)
- Get Paid in 24 Hours
Other Invoice Factoring Questions
- What Is Freight Bill Factoring
- How Does Freight Bill Factoring Work
- What Is Accounts Receivable
- What Is Invoice Factoring
- What’s the Difference: Accounts Receivable Line of Credit vs. Invoice Factoring
- How Does Payroll Funding for Small Businesses Work
Riviera Finance has been helping small business owners with cash flow problems for 50 years. Our invoice factoring services are competitive and our customers continue to work with us. If you have questions regarding invoice factoring services, contact us online or call us at 1-800-872-7484 and we will be happy to assist you in any way.