TORONTO, Ont. -- TransCore Link Logistics’ partnership with Riviera Finance is paying off for customers – to the tune of about $100 million since the companies teamed up in 2003.
The companies have announced TransCore users have received $100 million in funding through the load funding program, which has served as a reliable source of cash flow for carriers through the recession.
The program between Riviera Finance and TransCore Link Logistics provides an online credit guarantee for customers. Loads accompanied by the QuickPay icon on TransCore’s loadboard allow carriers to factor the loads through Riviera and receive payment within 24 hours on a non-recourse basis, resulting in no risk to carriers, the companies claim.
“Our customers appreciate the prompt application process and services offered to them by Riviera Finance. This strong relationship between TransCore and Riviera Finance has multiple benefits for Loadlink clients who may be looking at alternative receivable options for their invoices,” said Claudia Milicevic, general manager of TransCore Link Logistics.
“Two main concerns for carriers are cash flow and broker credit,” added Tom Smith, vice-president, Riviera Finance. “The QuickPay product addresses them both, quickly and easily.”