Small Business Showing Signs of Life Despite Reports of Weak Economy

REDONDO BEACH, Calif., Aug. 1, 2011 /PRNewswire/ -- Riviera Finance, an invoice factoring company which works with small- to medium-sized businesses across the U.S., has seen encouraging numbers in the first two quarters of 2011.

Demonstrating sustained client growth, Riviera Finance's total factoring volume is up 27% compared to 2010.  Since January 2011, average daily volumes for Riviera Finance have shown a full 33% improvement.

Tom Smith, Vice President at Riviera, elaborates, "Our method of funding seems especially appropriate in this business climate.  Customers are taking longer to pay, suppliers demand cash, and small companies find themselves squeezed for working capital when orders increase.  Our no-nonsense program of maximum advances and immediate turnaround is exactly what they need."

Businesses seeking cash can find a quick and easy solution to their needs with invoice factoring, a service where a company can sell its accounts receivable invoices to a factoring company which then provides them with immediate funds.  The influx of cash creates working capital for growth, and unlike bank loans, does not incur debt or require a lengthy (and often futile) application process.  With certain factors, like Riviera, factoring is done on what are known as nonrecourse terms, meaning that the company can keep the money it receives from selling its invoices, even if its clients default and cannot repay the factoring company.  This credit protection is especially valuable in the current climate where bankruptcies and defaults are so common.  

For additional information on Riviera Finance and invoice factoring, visit www.rivierafinance.com.

About Riviera Finance:  Founded in 1969, Riviera Finance is a nationally-recognized leader in the small business finance industry.  As the experts in accounts receivable finance, Riviera Finance maintains 18 offices throughout North America including eight business service centers strategically located to provide face-to-face service and expert financial solutions to small- and medium-sized businesses. Riviera holds the highest credit rating in the industry, has shown consistent, positive earnings and maintains a diversified, solid capital base.  For more information, visit www.rivierafinance.com.

SOURCE Riviera Finance