Looking for the highest degree of flexibility? Invoice factoring gives you the freedom to sell open invoices and receive cash for a set discount fee.
Insufficient cash flow can create substantial hurdles for small businesses. When customers delay their payments for 30, 60 or 90 days, it can harm your available funds and force you to take on unwanted debt. One solution to consider is invoice factoring, which provides fast and consistent invoice payments at time of invoicing and frees you from having to wait for clients to pay their outstanding invoices.
What Is Invoice Factoring?
Invoice factoring is a type of financing used to boost a company’s working capital. Invoice factoring is not a loan – you are provided a cash advance for your unpaid invoices. You complete your service to your customer and sell your unpaid invoices to a factoring company. Once you’ve sold the invoices, you collect payment promptly from the factoring company, minus a small fee.
Whether you’re a small business owner or manage a large operation, factoring invoices can be a major asset for your B2B strategy. It offers benefits that other traditional learning options can’t provide, plus it is a more accessible solution for many businesses. Invoice factoring provides some important advantages for small businesses.
Riviera Finance works with a variety of companies in the US and Canada to help them maintain cash flow and meet weekly financial demands.
Our process is built around immediate response to client needs, and the best cash turn around in the industry.
Receive Credit Checks on Your Customers
Competitive Rates and No Hidden Fees
No Debt is Created
Riviera takes on all the credit risk!
Complete the form for a Free Consultation.
The invoice factoring process is pretty straightforward and easy to follow. Here are the steps to apply for invoice factoring with Riviera Finance.
Many industries can benefit from invoice factoring. Some of the most common industries are:
If your industry isn’t included in the above list, no need to worry. Riviera Finance can put together a custom invoice factoring solution for your business. The main qualification is that you provide a service and invoice other businesses.
Discover the answers to some of our frequently asked factoring questions.
Invoice factoring has several advantages, but the main advantage of factoring is the immediate cash flow boost it provides a business. Unlike many financing options, factoring does not require the borrowing business to tie collateral to the funds. For many business owners, this is the most enticing aspect of invoice factoring.
Generally, a factoring company will charge 1-5% (this is considered the “factoring fee”) of the total invoice value, depending on variables such as your factoring volume, invoice size, risk profile, and client credit. If your company factors many invoices and works with trustworthy clients, your fees will generally be lower.
We encourage small to medium-sized businesses to look into invoice factoring, as typically these are the businesses that would benefit most from quick cash flow boosts. It’s important to explore and weigh your options, so if you’re a business owner with questions about the factoring process, feel free to give Riviera Finance a call at 1-800-872-7484 or contact us online.
Ready to get started? Our team moves quickly so that you can get the cash you need to keep growing your business.
Follow Us