Factor Your Freight Invoices to Access Working Capital
Anyone in the trucking industry, whether you’re a one truck owner-operator or manage a fleet, needs consistent cash flow. The reality, however, is that many brokers and shippers take weeks or even months to pay their invoices. Lack of working capital can have a serious impact on your business, affecting your ability to fuel your trucks, pay your bills, and haul more loads. Invoice factoring, often referred to as truck factoring, can be an effective solution for truckers wanting to enjoy more consistent cash flow.
Factoring provides a way for truck drivers to receive faster payments for invoices. The factoring process involves selling your load invoices, or freight bills to a factoring company in exchange for a small percentage of the invoice’s value. You then receive payment and your customer pays the factoring company.
Once you are approved for factoring, the factoring company pays you most of the invoice’s value. You will usually receive up to 95% of the face value up front, often within 24 hours of delivery and verification. Once your customer pays the invoice, you will receive the remainder of the invoice value with a nominal fee deducted.
Get the most money for your trucking business and leverage the expertise of one of North America’s largest commercial trucking finance companies.
Applying and qualifying for truck factoring is usually a simple and straightforward process. It’s much easier to qualify for factoring than a traditional bank loan. Factoring companies don’t consider your financial situation or credit score, making it easier for new and smaller companies or solo truckers to qualify. You do, however, need to submit invoices from credit worthy customers.
The following steps in truck factoring are common for most truck drivers and trucking companies.
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.
Riviera Finance is a freight factoring company that serves many types of businesses in the trucking, freight, and transportation sector. The following are examples of businesses that can benefit from truck factoring. Rivera Finance factors Owner-Operators and fleets across the trucking industry spectrum, including:
Fuel Discounts – Substantial savings at TA and Petro, Speedway, Roady’s & many other locations nationwide
100% Transparency – No account set-up fees or monthly maintenance fees, and low transaction fees
Mobile App / Online Resources – 24/7 Access to Fuel Finder Tool and Online Resources
Universally Accepted – Accepted nationwide at all major chains including Pilot, Flying J & Love’s
There are several reasons so many trucking and freight companies work with Riviera Finance. We streamline your payments, so you have the fast funding you need to manage and grow your trucking business.
We take the credit risk on broker and shipper invoices factored, not our trucking clients.
You want to work with a dependable and secure company. Riviera Finance was founded in 1969, is still under original ownership, and has earned a profit every year since then.
We pay the highest cash advances in the industry. Our standard advance is 95% of the invoice value.
Ready to get started? Our team moves quickly so that you can get the cash you need to keep growing your business. Get Started Today.
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