Factoring Facts & Benefits
Available from Riviera Finance
HOW INVOICE FACTORING WORKS
1. The factoring company reviews your customers' credit and establishes a limit on the factoring amount.
2. You deliver your product or service as usual.
3. Send/deliver your invoices directly to the factoring company and attach the proof of delivery/service required by your customer.
4. The factor verifies that the product/service was delivered.
5. You receive immediate cash from the factor via wire or check.
6. Invoices are forwarded to your customers.
7. Your customer pays the factor directly and the factor retains the agreed fee for their services.
◦ Reduce expenses by outsourcing credit and A/R administration.
◦ Shift manpower from collections to marketing and production.
◦ Invest in income producing assets (people and equipment).
◦ Eliminate bad debt with a non-recourse credit guarantee.
◦ Say “yes” to customers who demand credit terms.
◦ Stay current with suppliers and creditors.
◦ Receive cash discounts from suppliers.
◦ Meet regular payroll obligations.
◦ Improve your credit rating
◦ Bring payroll taxes current.
◦ Realize your financial goals.