Riviera Finance is excited to welcome 70 new clients that have funded in the month of August. Whether you have chosen Riviera Finance because we offer non-recourse factoring, provide the highest advance rates in the industry, offer the most competitive rates, or came highly referred, we aim to provide you with the best customer service in the industry. Riviera Finance has been dedicated to factoring small businesses over the past 42 years and we understand your cash flow needs.

 

Here is a sample of the clients we funded in August:

A $2,000,000.00 account limit for a manufacturer in Indiana.

A $50,000.00 account limit for a staffing company in Florida.

A $50,000.00 account limit for an auto body repair shop in California.

A $150,000.00 account limit for a furniture manufacturer in California.

A $150,000.00 account limit for a industrial manufacturer in Texas.

A $150,000.00 account limit for an auto part distributor in New York.

A $100,000.00 account limit for an auto repair shop in New York.

A $500,000.00 account limit for an oil field hauler in Alberta, Canada.

A $100,000.00 account limit for a security guard service in Ontario, Canada.

A $75,000.00 account limit for a recycling company in Georgia.

Welcome aboard and thank you for choosing Riviera Finance.

Good news for small businesses looking for invoice factoring in Minneapolis and the surrounding Great Lakes and upper Midwest regions: Riviera Finance is pleased to announce Mr. Jason Smith is rejoining the company as Business Development Manager for that area of the country. Mr. Smith represented Riviera in BDM role in 2007 and thus brings to the position detailed knowledge of Riviera’s core business demographic, as well as our non-recourse factoring products, accounts receivable management service, high advances, simple pricing programs and very competitive rates. We’re delighted to have Mr. Smith representing Riviera in this key region and encourage you to contact him at 800-542-0763 or jsmith@rivierafinance.com.

Riviera Finance would like to welcome aboard our 46 new clients funded in July.  We realize you have a choice in factoring companies. Whether you chose Riviera Finance because we offer non-recourse factoring, provide the highest advance rates, offer the most competitive rates, or came highly referred, we aim to provide you with the best customer service in the industry. Riviera Finance has been dedicated to factoring small businesses over the past 40 years and we understand your cash flow needs.

Here is a sample of the client's we funded in July:

$100,000.00 credit limit on a staffing company in North Carolina.

$100,000.00 credit limit on a medical manufacturer in Florida.

$350,000.00 credit limit on a seafood distributor in California.

$500,000.00 credit limit on a trucker in Ontario, Canada.

$100,000.00 credit limit on a oilfield service company in Texas.

$100,000.00 credit limit on a wireless company in Massachusetts.

$100,000.00 credit limit on a welding company in Texas.

$250,000.00 credit limit on a trucker in Illinois.

$200,000.00 credit limit on a furniture manufacturer in New York.

 

 

Riviera Finance is excited to announce Ms. Yvonne Orr is taking over the Business Development Manager (BDM) role for Riviera in the important Southern California and Arizona regions. Ms. Orr is a 12-year veteran of Riviera Finance’s operations department and thus brings to the BDM position detailed knowledge of the factoring process. Having managed a large portfolio of active clients for Riviera, Ms. Orr not only is familiar with Riviera’s core business demographic, but also with Riviera’s non-recourse factoring products, accounts receivable management service, high advance rates, simple pricing programs and very competitive rates. We are excited to have Ms. Orr representing Riviera in this key region and encourage you to contact her at 800-533-9472 or yorr@rivierafinance.com.

In June, 67 businesses began factoring with Riviera Finance. For us, that's 67 new opportunities to help entrepreneurs from many different walks of business life attain their goals. We'd like to welcome each of you to the Riviera family and point out the many benefits you'll be enjoying with us.

Because we have so many local offices (18 across North America ), you'll receive hand-on attention from your Account Executive who is likely nearby. And please feel free to stop in and visit us at any time; developing personal relationships with our clients is at the top of the Riviera "To Do" list!

Riviera Finance employs the most experienced staff in the factoring business (on average, our employees have been with us for over 11 years), so whatever your industry, whatever your needs, your Account Executive can help you through the challenges you may face. Even when our offices are closed, you'll have access 24/7 to ROAM, our pioneering online account management system, where you'll be able to monitor all the details of your account, do online credit checks, and even create your own invoices or schedules of accounts. With the increased cash flow, and peace of mind knowing that you're dealing with the best factoring company around, you're free to do what you do best: grow your business.

We thank you for choosing Riviera as your invoice factoring company, and we look forward to surpassing your expectations in the months and years to come.

Here's a sample of some of the new clients we met in June:

$350,000 account for a trucker in Chicago

$200,000 account for a software development firm in Northern California

$200,000 account for a car detailing service in Phoenix

$200,000 account for a mobile telecommunications service company in Oregon

$150,000 account for a online streaming technology company in Seattle

$250,000 account for a staffing company in Atlanta

$200,000 account for a pallet company in Dallas

$100,000 account for a oil/gas trucking company in Pennsylvania

$200,000 account for an alarm services company in Connecticut

For a small business looking to the horizon, the news is either partly cloudy or partly sunny, depending on who you listen to.

In a recent article in The Wall Street Journal, traditional bank lending to small business is down over last year.  According to the piece, "In the past six months, only 17% of loan-seeking businesses with less than $5 million in annual revenue landed bank financing."

The banks themselves place blame at the feet of federal regulators.  The banks are feeling the keen eye of the regulators looking over their shoulders, and many are claiming that they are denying loan requests they otherwise would have approved in order to please the federal guidelines.  "'The main issue facing lenders,' Paul Merski (senior VP of the Independent Community Bankers of America) says, 'is that regulators are asking for proof that the loans will be repaid. That can be tricky with smaller, historically riskier businesses, particularly in an uncertain economy where property—often used as collateral for loans—keeps falling in value.'" 

Read the full article here:  Smaller Businesses Seeking Loans 

The news isn't all bad, however.  Former President Bill Clinton recently helped launch a microlending drive at his Clinton Global Initiate America conference in Chicago.  Clinton's effort seeks to align struggling small businesses with a group of lenders who can provide them desperately needed funding. The initiative started as a series of BBQs and networking events held by bankers and local church leaders in Detroit, and has now gone nationwide thanks in part to Clinton's endorsement.

For more details on President Clinton's lending initiative, click here:  President Clinton Reaches Out to Small Businesses

President Clinton is not the only one rallying to the aid of America's struggling entrepreneurs.  As small businesses seek to stay afloat, invoice factoring will remain a valuable option at their disposal, helping the businesses quickly tap into their own invoices as a source of easy capital.  Factors such as Riviera Finance are often able to assist even those businesses who are being turned away by banks and other traditional lenders.

Riviera Finance would like to welcome our 43 new clients funded in May.  We realize that you have a factoring choice, and appreciate the confidence you have expressed in choosing Riviera Finance.

By now, we hope that you have been set up online with ROAM to access your account, and have been assigned to an Account Executive team that will offer full attention to your factoring needs.

Here is a sampling of accounts funded in June:

A $200,000.00 account limit on a commercial lawn care service in Indiana.

A  $50,000.00 account limit on a trucking company in Washington.

A $100,000.00 account limit on a retail store maintenance company in Georgia.

A $500,000.00 account limit on a software development company in Northern California.

A $250,000.00 account limit on an oil and gas industry trucker in Houston.

A  $150,000.00 account limit on a sign company in Southern California.

A $400,000.00 account limit on a electronics manufacturer in Colorado.

A $200,000.00 account limit on a North Carolina garment distributor.

A $150,000.00 account limit on a Dallas staffing agency servicing the hospitality industry.

A $100,000.00 account limit  on a staffing agency in New Jersey.

Welcome aboard.

Recently, Riviera Finance's Houston office hosted an appreciation gala for its local clients and their families.  Over 200 people were in attendance  to enjoy an afternoon of great food, conversation, and dancing. 

Riviera's Houston office has enjoyed the privilege of working with thousands of small businesses since it opened its doors in 1979, providing the type of experienced, one-on-one factoring service that its clients have come to expect.  Operations Manager Jennifer Whittenburg, a 15-year Riviera veteran herself, offers, "Having our Client Appreciation Day gave us the unique opportunity to see our clients and their families in a casual environment and show them how much we appreciate their loyalty and business."

National Small Business Week 2011, May 15-21, will be highlighted with events at the Mandarin Oriental Hotel in Washington, D.C. Over 100 small business owners from around the country will be honored for their involvement in disaster recovery, government contracting, and entrepreneurial development. An impressive group of high-ranking government and corporate representatives will be speaking at the event.

The public can virtually "attend" the small business week events via the SBA's streaming video by following this link. A complete agenda for the event is posted here.

For the complete story, including President Obama's proclamation, click here.

Riviera Finance applauds all efforts to support and recognize the small business community, which continues to provide the fuel for our economy.  Riviera Finance has provided financing for growing companies throughout North America since 1969 with non-recourse factoring. 

AOL Small Business reports that SCORE is relaunching its website with new tools to assist in the launch and growth of small businesses. According to the report, "the nonprofit mentorship organization has relaunched its website to be more client focused and provide entrepreneurs with a way to network with other small businesses..." Read complete story here.

We applaud SCORE and other entities that support small businesses in the critical early stages of growth, when conventional services and financial solutions are scarce.  Riviera Finance has provided early-stage accounts receivable financing for 42 years.

Riviera Finance would like to welcome 51 new clients to our factoring program in April. 

We realize there are many factoring companies to choose from so we appreciate the confidence that all clients express in making Riviera Finance their factoring choice. 

Newly funded clients include:

$250,000.00 limit on a trucker in Manitoba.

$200,000.00 limit on a graphics company in the Northeast.

$75,000.00 limit on a forklift repair company in the Mid-South.

$200,000.00 limit on a staffing company in Alberta.

$250,000.00 limit on a gravel hauler in North Dakota.

$100,000.00 limit on a roustabout service in Texas.

$250,000.00 limit on promotional products company in Colorado.

$150,000.00 staffing company in California.

Riviera Finance is pleased to announce the opening of their 18th office in Miami, FL. This office is located at 6303 Blue Lagoon Drive, Suite 400, Miami, FL, 33166.

The Miami office is now ready to accept invoices at this location for invoice factoring with the welcome addition of George Gomez to their team. George can be reached at 305.863.2125 or by email at ggomez@rivierafinance.com.

Riviera Finance has been offering non-recourse factoring for over 40 years with an emphasis on local service.

In an earlier blog, I offered that Riviera Finance's new business was " roaring in like a lion",  as we funded 18 deals in the first week of the month. I also offered in the blog that I would summarize new business production for the entire month of March to see if it kept pace with the ferocious start,  and the results were quite favorable. For the entire month of March, Riviera Finance welcomed 62 new clients into our factoring program.

You may be curious on the types of new deals being funded, so here is a brief summary:

200k Energy Service Provider in Alberta
10k   Trucker in California
150k Fabricator in Georgia
300k Importer in Florida
100k Modular Installer in Texas
500k Heavy Hauler in Illinois
150k Medical Staffing Company in California
150k Media Company in Massachusetts
300k Importer in Ontario

Many of these small businesses were looking for a source of working capital to cash flow their operation and Riviera's non recourse invoice factoring program has been able to provide this jump start.

The application process is quick, simple, and has low barriers to entry, as is evident by the number of new deals funded in March.