| Container Freight Trucking Company | |
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$50,000 |
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| This
trucking firm was actually factoring with another company that was two
time zones away and when they decided to look for another factor, our
broker knew right away this deal had a home at Riviera Finance. The
trucking company was located near our office in Chicago and was planning
on splitting their operations into two separate organizations - one
focused on regular, long haul trucking and the other on moving containers.
Our broker was assisting the owner of this firm with their new permitting and licensing requirements and realized they would also need a factor that was more comfortable with this industry than the current factor. Riviera Finance, having pioneered factoring in the trucking industry, was a natural fit. As it turned out, one of the main reasons we were able to fund this deal was the fact that we were willing to advance 91% on the deal and the other factor only 80%. This made doing a buy-out of the other factor much easier on the client and provided them some extra liquidity to grow their business. |
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