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Riviera Finance Invoice Factoring Review
Riviera Finance is one of the leaders in the invoice factoring industry. They were established in 1969 and has worked with more than 20,000 companies over the course of their history. They offer a number of services and the quality of their products and customer support make them one of the best invoice factoring companies we looked at.
One of the major benefits to working with Riviera Finance is that they will factor any invoice you can produce, no matter how long overdue it is. This is an advantage when compared to other companies who have a limit on the number of days an invoice can be overdue before a company is forced to buy it back. They have a fast turnaround time, and most companies can get approval within 24 hours. Their contracts are flexible, and you can enter into month-to-month, as well as year-long or six month contracts. Riviera Finance also provides a dedicated customer support agent to help your business with its factoring and working financial needs. They will do initial funding as high as 92% of the invoice, and there is no startup fee if you choose to start working with them.
Riviera has a lower ceiling on the total amount of invoices you can factor with them, capped at $2 million. You will also have to pay a termination fee if you want to start using another factoring company, so be sure that you’re happy with the rates you’re getting and do solid research before committing to a contract. They also have a high fee percentage, 2%, which is on the upper end of what we expect for invoice factoring services.
Riviera Finance is a good choice for invoice factoring. They have a high initial funding rate, fast turnover, and will work with invoices that are any age. Just watch out for rates and fees.