Invoice factoring gives businesses the power to ensure growth without diluting equity or incurring debt.
Invoice factoring is the purchase of accounts receivable for immediate cash. Invoice factoring gives businesses the power to ensure growth without diluting equity or incurring debt. After invoices are submitted and verified, they are funded by Riviera Finance within 24 hours.
Your business needs working capital in order to take on new business, grow your business or manage everyday expenses. It’s tough to build your business when you’re waiting on your customers to pay for 30, 60 or 90 days.
Riviera Finance allows you to get paid right away. Instead of waiting for idle invoices to get paid, send them to Riviera to get paid right away. Once we buy your invoices, we become your accounts receivable department.
Take control of your cash flow with invoice factoring with Riviera Finance.
Watch the short video above that explains what is factoring and how it can help your business’s cash flow and give you access to working capital in as little as 24 hours.
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!
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Now that we have answered what is invoice factoring, discover the benefits of factoring invoices with Riviera Finance really boil down to adding profit to your bottom line. Before you factor, make sure you can take advantage of the features of invoice factoring and leverage them into value:
Most of our invoice factoring clients can do more business if they have better cash flow. How this works depends on your industry and your market. Some real examples are:
Many of our invoice factoring clients actually reduce expenses by outsourcing credit and administration to Riviera, and by leveraging their healthy cash position. The most common ways include:
Factoring invoices for cash enables some businesses to “get current” or reduce strains caused by tight cash flow. It also improves their own credit rating. Here are some examples we frequently see:
Every company has a unique situation. Before signing up to factor, it’s important to understand how our invoice factoring services can increase your business, reduce your expenses, and improve your financial situation.
Watch the video to the right to see an example of how factoring can help your business and unlock working capital in as little as 24 hours.
If you’re ready to start factoring invoices, click on the get started button below and fill out an online form to get connected with one of our business representatives. They are waiting to help your business.
Let’s explore the different types of factoring, so you’ll know exactly what to look for when choosing a factoring company to partner with.
With non-recourse factoring, if your customer doesn’t pay their invoice due to credit reasons, such as filing for bankruptcy, the factoring company takes the loss instead of your business. You will not be required to pay back the advance to the factoring company. You could think of non-recourse factoring as a business cash flow solution and customer credit insurance all in one.
For reference, Riviera Finance provides non-recourse factoring.
If your customer doesn’t pay the invoice that was factored, for any reason within, generally within 90 days, you are required to repay the recourse factoring company the amount that was advanced. Therefore, recourse factoring does not protect a company from bad-debt. For reference, most factoring companies offer this type of invoice factoring.
Related: Factoring Costs and Benefits
Spot factoring allows you to factor a single invoice. For example, if you have a large invoice that needs to be paid immediately, a spot factor can provide funding for just that one invoice.
Whole ledger factoring requires you to factor all of your invoices with the factoring company. This may not be ideal for businesses that only experience payment delays with a few customers, as it involves factoring every invoice, regardless of the payment reliability of all your clients.
Riviera Finance does not require you to factor all of your invoices. Riviera clients choose which invoices they would like to factor.
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