If you’re a small business owner, you may sometimes struggle with the problem of inadequate cash flow. Businesses typically have fluctuations when it comes to cash flow, whether it’s due to the season, economic conditions or other factors. Unfortunately, lean periods can be harmful if they prevent you from meeting your financial obligations or from purchasing necessary items for your business. That’s why working capital for small business is a crucial subject to consider. There are a variety of alternatives for obtaining working capital, such as small business loans and other credit solutions. Invoice factoring is another option, one that’s actually more favorable in many ways than conventional loans.
Obtain Working Capital with Invoice Factoring
Invoice factoring is a type of financing where you obtain upfront cash in exchange for your accounts receivable. One of the typical frustrations experienced by small business owners is having to wait for customers to pay their invoices. It’s not uncommon for some customers to pay late. Even when they pay on time, you still have to wait to get paid, which can mean suffering from reduced cash flow. An invoice factoring company purchases your accounts receivable, giving you the money you are owed immediately. This is one of the most efficient types of working capital loans for small business.
Advantages of Invoice Factoring with Riviera Finance
Riviera Finance is one of the most flexible, experienced and trustworthy companies in the United States that provides business financing services. Riviera has more than 25 locations and serves more than 1,400 small and medium-sized businesses in a variety of industries. Let’s look at some of the benefits of obtaining invoice factoring services from Riviera Finance.
- Instantly improve your financial situation. With invoice factoring, you can more easily make payments and meet obligations such as payroll. You can use cash to pay off debts and strengthen your credit.
- Grow your business. When your cash flow situation improves, you’re in a position to grow by purchasing inventory, hiring additional employees and investing in marketing.
- Save money. With more cash at your disposal, you become eligible for supplier discounts. You also save money and time by not having to deal with collections. Resources can be redirected in more productive directions.
- Work with an established company with ample resources. Riviera has been in business since 1969 and now has more than 25 locations around the U.S. and Canada.
- Easily keep track of all your transactions. Riviera provides a convenient online system, called ROAM, that gives you access to your accounts 24/7.
Invoice factoring provides a wide range of benefits. Depending on the type of business you have and your own situation, you can take advantage of improved cash flow however it suits you. Many businesses find invoice factoring to be a more convenient and user-friendly alternative to traditional working capital loans for small business.
The Simplicity of the Invoice Factoring Process
There are only a few quick steps involved in invoice factoring, making it one of the fastest and simplest ways to obtain the business financing you need.
Get Started with Invoice Factoring Today
- Register as a Riviera Finance customer.
- Factor your invoices.
- You conduct business as you normally do. Riviera verifies that your customers have received any products or services they’ve ordered.
- Invoices are forwarded to Riviera, who then collects payments from your customers.
- You obtain cash within 24 hours.
Working capital loans for a small business can make a big difference to your financial situation. If you find that lack of cash flow is holding you back, invoice factoring can be the solution you’ve been seeking. Unlike traditional loans, you can obtain cash without incurring debt. This is a solution that’s viable for newer businesses and startups that may have difficulty obtaining bank financing. If you want to learn more about invoice factoring and how it can help your business, contact Riviera Finance.