Riviera Finance Reviews

9.2

Overall

9.2/10

Funding Speed

8.9/10

Cost

9.0/10

Experience/Reputation

9.7/10

Service and Support

9.3/10

Pros

  • Offer Non-Recourse factoring.
  • Provide immediate, automated credit approvals with FastCredit, 24/7.
  • Get paid within 24 hours of approval.
  • Can have a face to face meeting with an advisor.
  • Unprecedented experience with invoice finance.

Cons

  • Application/Approval process can take a few days.
  • Not inexpensive funding.
  • Advance amounts listed on site but not factoring fees-must be negotiated with company.

Riviera Finance Reviews

See above info for Riviera Finance Reviews. If you are a current or former customer, we’d like to hear from you. How was your experience? Are you a repeat user?

Riviera Finance is a factoring company based in Redondo Beach, California. An industry veteran, Riviera has been factoring invoices since 1969. Five decades in the factoring business is a testament to their execution. They are the most experienced invoice factoring company we cover.

This deep experience has benefited their typical invoice factoring clientele (truckers, construction, manufacturing, wholesalers and energy companies) but also businesses ranging from mining companies to auto shops. They provide funding solutions to 1400 small and medium business clients.

Their service record is evident in the overwhelmingly positive Riviera reviews we poured through. And that reputation has translated into a reported $70 million in annual revenues.1

Riviera Finance Locations

Riviera has satellite offices located all around the country (plus 3 in Canada). Outside of California, their busiest offices appear to be in Texas and Florida. The Florida locations are in Miami and Clearwater while the Texas offices are in San Antonio, Dallas, El Paso and Houston.  

The Riviera Finance Houston office on Sam Houston Parkway has been especially busy. They recently provided two, secured line of credit facilities for area businesses. The first was a credit line of $250,000 for a delivery company who had reached their credit limit with their bank.

The next deal in Houston, also a $250,000 line, was for a two-year old machine shop that fabricated parts for the oil and gas industry. They reportedly were tired of waiting 60 days for repayment but a secured line of credit from a bank is generally out of the question for a two-year old business. So they turned to invoice financing with Riviera.

It’s a good idea for clients with high concentrations of receivables with a single account debtor to consider non recourse factoring. Given the boom and bust cycles of oil and gas operations in Texas, transferring the credit risk along to a factoring company may help small business owners sleep better at night.

How is Riviera Finance Different from Other Factoring Companies?

More and more players in the alternative financing space are so-called fintechs, making online small business loans with the use of innovative technology and advanced algorithms.

Riviera Finance is decidedly old-school, meeting face-to-face with business seeking to improve net working capital. It’s this personalized service that has kept them in business for five decades. While they won’t be mistaken for online lenders like Fundbox or Bluevine they are no slouch in when it comes to technology innovation.

In addition to accounts receivable factoring and automated credit approvals, Riviera offers receivables management- providing a full-service back office for customers. In all, Riviera manages over 20,000 debtor accounts for their customers. This program includes:

·       Maintaining a Repayment Communique with account debtors.

·       Invoice Mailing and Processing.

·       Real Time Alerts to Returns or Disputes.

·       Access to Customer Info 24/7 via Riviera Roam (Riviera Online Account Management system)

 

Riviera Finance Pros and Cons

In addition to the Riviera Finance reviews above, we reiterate these key pros and cons:

Main Pros:

·       Offer Non-Recourse factoring.

·       Provide immediate, automated credit approvals with FastCredit, 24/7.

·       Get paid within 24 hours of approval

·       Can have a face to face meeting with an advisor.

·       Unprecedented experience with invoice finance.

 

Main Cons

·       Application/Approval process can take a few days

·       Not inexpensive funding.

·       Advance amounts listed on site but not factoring fees-must be negotiated with company

 

For more information on the company, visit our Riviera Finance spotlight page where we answer:

Who Uses Riviera Finance?

Where does Riviera’s funding come from?

Do they offer specialty financing options?

 

1https://www.crunchbase.com/organization/riviera-finance#section-overview