New Jersey

A large fashion apparel wholesaler who has been in business for 11 years found themselves cash strapped even as sales were increasing, due to the long payment terms their big name retailers required. They had an existing bank line of credit but the amount was restrictive. They hired an industry consultant to help with their growth. The consultant introduced them to Riviera Finance, as an alternative to their bank financing because of the flexibility a factoring line allows a business, the ability of the factoring line to increase quickly as the businesses capital needs change, and as a way to reduce their risk of bad debt. They now have a source of capital for their growing business and can rest easy knowing that if one of their retail customers were to suddenly file for bankruptcy, they won’t be hit with an unpaid invoice because Riviera takes on the credit risk of the invoices we purchase.

This well established, family owned security guard company obtained a large purchase order with a major firm for their services. However, they were already completely using up two existing credit lines with large banks in New York. They began to search for an alternative source of lending so that they would not have to turn down this opportunity. After being approved by another lender who was slow to fund them, they called Riviera. We approved the deal, paid off both lines of credit, which totaled over $1.6 million and funded them in only nine working days! Now the client is consistently and easily making payroll with their advance of 90+%. With the help of our Online Account Management Program (a free service we provide to all of our clients), they can now retrieve the status of their 1000+ invoices online. The family is now able to focus on their treasured security business and can leave all the troublesome and tedious accounting to Riviera. After all, it’s what we do best!

This food caterer created her own premium packaged food line which was picked up by grocery stores. The packaged food sales grew quickly and are now carried in over 75 stores. This high demand was great for business, but waiting for payment from some of the large chains for up to 60 day was hurting their cashflow. A thriving business like this depends on cash flow to keep operations running. She was looking for flexible financing that would be a back-up source of capital when she needed it. Fortunately, she found Riviera and was able to factor her first invoice within two weeks once Riviera was able to quickly secure a subordination from the SBA on her existing payroll protection loan. She now has the ability to continue to fulfill her growing orders!