Riviera Finance Celebrates 40 Years of Turning Accounts Receivable into Ready Cash

REDONDO BEACH, Calif. — Riviera Finance, a leader in commercial finance, commemorates its 40th anniversary in the invoice factoring industry in 2009. Since 1969, Riviera has assisted thousands of businesses with small business financing by providing working capital and cash flow solutions including finance, credit services, accounts receivable management, and more. As a pioneering factoring company with a heritage that spans four decades, Riviera Finance exemplifies the entrepreneurial spirit of the very clients it serves.

Businessmen David B. Clark and John B. Danis began Riviera Finance in 1969 to fill a void for small businesses in need of financing that were being turned away by traditional lending institutions. In order to meet those needs, Clark and Danis came up with the revolutionary concept of providing factoring services to these small companies. While factoring, or the purchase of accounts receivable for immediate cash, dates back to colonial times, it wasn’t until Riviera Finance came along that it became a lending tool for small businesses.

"We saw that banks were not responsive to the needs of small businesses," says CEO Clark. "They were the first to get discarded. So we decided to sell our businesses, pool our capital, and start meeting their accounts receivable needs."

Today invoice factoring is widely accepted as a viable financing tool for many types of small, medium-sized, and large businesses. Riviera Finance has established a reputation as a leader in the commercial finance industry; serving a client base of over 1,500 small and emerging businesses while establishing client service centers in major cities. Mr. Clark, who acquired sole ownership after his partner’s passing in 1998, continues as CEO.

"We give our clients accessibility to solutions," adds Clark. "It’s the way we treat them that keeps them coming back."

Riviera Finance maintains 17 offices throughout North America including eight service centers strategically located to provide face-to-face service and expert financial solutions to small and medium-sized businesses. For more information on this unique and effective form of small business financing, call (800) 476-9841 or visit Riviera Finance online at www.rivierafinance.com.