REDONDO BEACH, Calif., Dec. 17, 2010 /PRNewswire/ -- While the health of America's small businesses has been a vital economic concern in 2010, Riviera Finance, a national invoice factoring company, has continued to see significant growth within its client base throughout the year, indicating a strong recovery in the small business sector.
Since January of this year, Riviera's daily factoring volume has increased by more than 50% and full-year volume has grown 25% since 2009. Accounts receivable factoring volume from new accounts is up 24% over 2009.
Tom Smith, Vice President at Riviera, elaborates on the hopeful outlook for 2011 and beyond, "As we close out 2010, the strong demand for working capital is matched by a steady increase in business orders. As this trend continues, small business credit quality will recover, and hopefully, commercial banks will become active lenders again."
Invoice factoring is a small business funding service that gives companies cash for their accounts receivable, improving their cash flow and thereby providing working capital for them to expand. Riviera Finance, which has provided this service to over 20,000 businesses over the past four decades, also partners with other lenders through their corporate development program which offers a wide range of strategic partnering solutions including capital, back-office services, and co-marketing arrangements to factoring companies.
For additional information on Riviera Finance, invoice factoring, and corporate development opportunities, 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 16 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