Riviera Finance provides many tools to help your business improve cash flow and grow faster. One of these is invoice factoring, where you obtain immediate cash based on purchase orders and outstanding invoices. However, in certain situations, conventional invoice factoring may not be enough.
For example, suppose you have a customer who wants to pay for your products on credit. Your supplier, meanwhile, demands cash. In this scenario, you’re compelled to come up with immediate cash while you wait for your customer to pay. Such situations, which are quite common, can stretch you thin and make it hard to find the cash you need. Riviera Finance has an effective credit enhancement tool that helps you deal with these situations.
A Simple Way to Obtain Credit When You Need It
A supplier assurance letter is a document created by Riviera Finance that assures your creditors that you have a valid purchase order, specifying the amount and that Riviera is acting in the position of factoring company for this transaction. Once Riviera approves the customer for factoring, you can obtain such a letter quickly.
Obtaining credit from suppliers is not always easy. With an assurance letter, however, it’s far more likely that the supplier will extend credit to you based on your customer’s purchase as it removes risk from the transaction. This is a useful service that provides credit until you deliver the product.
Take Advantage of Credit Enhancement with Riviera Finance
Small and mid-sized businesses must constantly seek ways to improve cash flow and meet their obligations. At times, they also need alternatives to traditional bank loans. It’s easy to get stuck in situations where you must deliver services before you get paid. Obtaining an assurance letter from Riviera Finance helps you develop favorable relationships with suppliers who might otherwise be wary of extending you credit. You can think of this type of credit enhancement as transitional credit that helps you strengthen your cash flow position.
When you get supplier assurance letters, you won’t be in the difficult position of paying out cash for products before your customers pay for them. This is just one of the financial tools offered by Riviera Finance that can help your business grow.
If you’re seeking invoice factoring, a supplier assurance letter or another type of assistance with business finances, contact Riviera Finance and find out how they can help you.
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