Invoice factoring is one way small businesses can grow without bringing on debt. Riviera Finance provides invoice factoring suited for small businesses with an easy application process.
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Last updated onUpdated
REVIEWED BY
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| Total Rating | 3.7 |
|---|---|
| Rates & Fees2.3 | |
| Services3.7 | |
| Eligibility Requirements4.5 | |
| Application4.0 | |
| Sales & Advertising Transparency3.6 | |
| Customer Service4.2 | |
| User Reviews3.9 | |
Table of Contents
Riviera Finance is an invoice factoring service for B2B and B2G companies. Customer accounts and credit decisions are managed by the closest office, and factoring agreements are tailored to the merchant’s business. Merchants who aren’t close to a physical office are still eligible for Riviera’s services.
Unlike many invoice factors, Riviera Finance offers non-recourse factoring through credit protection. Riviera Finance will provide up to 95% of your paid invoices upfront, giving you access to cash when you need it. Unfortunately, Riviera does not offer additional funding services and isn’t transparent with its terms and fees.
Is Riviera Finance right for your business? Keep reading to find out!
| Services3.7 |
|---|
| Lending Services 5.0 |
| Lending Limits 3.0 |
| Payment Portal & Mobile App 2.5 |
Riviera Finance offers invoice factoring, which allows you to receive fast access to cash using your unpaid customer invoices.
Riveria specializes in non-recourse factoring, which does not require you to repurchase the invoice if your customer doesn’t pay due to bankruptcy. However, you will be required to repurchase the invoice in some cases (such as if the invoice was inaccurate or the terms of the invoice were not fulfilled).
While this service is great for businesses with unpaid invoices (and customers that are likely to pay), businesses seeking more traditional financing, such as business loans and lines of credit, won’t find what they need from Riviera Finance.
| Eligibility Requirements4.5 |
|---|
| Availability 4.5 |
| Borrower Qualifications 5.0 |
| Transparency 3.0 |
Riviera Finance offers financing services to most B2B and B2G businesses, regardless of how long you’ve been in business or how much revenue you make each month. The only businesses that Riviera Finance typically prohibits are certain types of businesses in the medical and construction industries.
Because invoice factoring depends on your client’s credit rather than your own credit, there is no minimum credit score, making this a great option for startups or businesses with fair credit.
Riviera Finance services clients in the US and Canada; the invoices you put up for factoring must also be for clients located in the US or Canada.
| Rates & Fees2.3 |
|---|
| Pricing 2.4 |
| Affordability 2.2 |
Riviera Finance does not disclose its rates, fees, and other specifics. At the time of our last review, Riviera provided $5,000 - $2 million with advance rates up to 95%. Fees generally started at 2%. Again, this information is not disclosed on Riviera’s website, so you’ll have to contact Riviera directly for more information.
Riviera does disclose that it offers non-recourse invoice factoring.
Riviera Finance offers notification invoice factoring, which means your clients will know that you are using an invoice factor. Once an invoice is approved for factoring, Riviera Finance takes care of collecting the payment.
Although Riviera Finance’s most common contract length is six months, the company is flexible and can adjust the contract length according to the client’s needs.
The company’s discount rates vary depending on business size and industry. Riviera Finance does not usually charge other fees, aside from a possible early termination fee for long-term contracts.
| Application4.0 |
|---|
| Application Process 5.0 |
| Application Timeline 3.0 |
To begin the process, you can fill out a short form online to receive a quote. Alternatively, if there is a Riviera Finance office in your area, you can speak to a staff member in person.
If you are happy with the quote you receive and wish to continue the application, the Riviera Finance team will help you with the next steps. You will have to provide documentation and other forms of verification. Once your application is complete, you will be able to start sending in your invoices for funding.
According to the website, the initial application and approval process takes between 24 to 48 hours, and the total time from application to funding is 4 to 7 business days.
If you are approved, you can choose which invoices to factor in and view the status of your invoices online. Once an invoice is approved, Riviera Finance offers guaranteed funding in 24 hours.
| Sales & Advertising Transparency3.6 |
|---|
| Sales Practices 4.0 |
| Web Presence 3.0 |
The Riviera Finance website provides plenty of information to help customers understand what invoice factoring is, how it works, and the services the company offers. Unfortunately, when it comes to fees, maximum credit facilities, and other important details, Riviera Finance is not particularly transparent.
In my experience, customer service is easy to get a hold of and willing to answer questions, and the site has a convenient office locator to see if there’s an office in your area. You will also be assigned a designated Account Executive to help you as needed.
| Customer Service4.2 |
|---|
| Personal Support 4.7 |
| Self-Service 3.0 |
Customer service is available via phone or email. If you have a Riviera Finance location near you, you can also visit a physical office for help. A company blog, help center, YouTube channel, and social media profiles on Facebook, LinkedIn, and Instagram are also available.
| Riviera Finance Customer Service | Availability |
|---|---|
| Phone Support | |
| Email Support | |
| Support Tickets | |
| Live Chat | |
| Dedicated Support Representative | |
| Knowledge Base or Help Center | |
| Videos & Tutorials | |
| Company Blog | |
| Social Media |
Although there are no reviews online that specifically address customer service, according to a survey done by Riviera Finance, friendly sales representatives and great customer service are the top two reasons customers choose this factor. In my experience, Riviera Finance’s customer service was easy to reach, knowledgeable, and willing to answer questions.
| User Reviews3.9 |
|---|
| User Feedback 4.0 |
| Review Site Aggregate 3.8 |
Riviera Finance is not accredited by the Better Business Bureau, though it does have an A+ rating on the site. Riviera Finance also has a Trustpilot profile, though the profile just has two public reviews and a rating of 3.8 out of 5 stars.
This trend continues across the web, as Riviera Finance has very few reviews, although individual branches have a handful of reviews and ratings on Yelp. There are 14 reviews on the company’s Facebook page, with 96% of reviewers recommending the company.
Because there are few reviews about Riviera Finance, there aren’t many negative reviews. There is a warning from a user that says not to use the company, although no specific details are provided (Riviera also responded to this review).
Riviera Finance has a video testimonial on its YouTube page and a few positive reviews elsewhere on the web. Customers typically cite these as high points:
Riviera Finance is best for growing B2B and B2G businesses that need invoice factoring to solve cash flow problems, especially if your business is close to one of this company’s local offices.
This factor offers flexible services that will work for a number of businesses, no matter how large your business is or how long you’ve been in business. You don’t have to deal with monthly minimums, pay an excess of additional fees, or worry about your customers going bankrupt. Riviera also has a strong physical presence and over 50 years of factoring experience.
On the flip side, B2C businesses are unable to use Riviera’s factoring services. There are also no additional lending services available. We also wish that Riviera Finance was more transparent in terms of its fees, credit facilities, and other important details.
Despite these drawbacks, Riviera is an option worth considering if your business has unpaid invoices and needs to boost cash flow in a hurry. We rate it a solid 3.7 out of 5 stars overall.
Merchant Maverick has been researching and reviewing business lenders since 2015. Our writers have tested over a hundred different funding products, including traditional term loans, online loans, lines of credit, start-up loans, merchant cash advances, and equipment financing. In each review, we evaluate rates and fees, services, eligibility requirements, application process, sales and advertising transparency, customer service, and user reviews.
Read more about how we rate business loans and funding products.
When comparing different lenders and loan products, we consider many data points, including the ease and transparency of the application process, interest rates, repayment structure, sales ethics, time to funding, revenue and time in business qualifications, and credit score requirements. Our lists of the best funding products include only those we’ve deemed worthwhile from multiple vantage points, and often share qualities such as widespread accessibility across fifty states, low rates, flexible requirements, and competitive borrowing amounts.
We spend an average of 10-15 hours researching and updating each one of our lists, making sure the loans and funding products included meet our internal standards for quality and reputation.
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The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.
Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.
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