Toronto, Canada

This brand new company started a business this year with five trucks servicing some major oil and gas companies. They chose to work with Riviera since their inception because of our personal service and local staff. With Riviera’s cash flow assistance, they are expanding their business and are on track to add 15 more trucks by the end of the year.

In January 2012, an oilfield transportation company looked at its bank account and saw its balance was alarmingly low, thanks in no small part to having dispatched a record number of its trucks to haul heavy loads under dangerous winter conditions. Another icy highway accident would have sent them scrambling for the phone to demand faster payments from its existing customers, mostly just to cover the rescue and repair bills.

Rather than put their valued clients in an uncomfortable position and risk future business, the client placed an inquiry with Riviera Finance at the recommendation of a colleague. The objective was to factor a few invoices to give them enough extra cash to make it through the deep winter freeze, with no future obligations. Not only was Riviera able to meet their requirements, we provided such effortless service that the client continues to use the facility as a convenient tool whenever cash gets tight, busy season or not.

Since then, the client has added trucks, personnel, and even a few new accounts. For many of our clients all across Western Canada, Riviera Finance takes a lot of the stress out of the peak winter season.

This company had been operating for a year and was looking to increase working capital to support rapid growth. Initially, they got an MCA loan. The decision caused a reduction in working capital because of high monthly payments and hindered their growth. Their accountant suggested Riviera to support their working capital needs and future growth with Accounts Receivable Factoring. Riviera Finance was able to payoff the existing MCA loan and provide needed working capital to meet their growing payroll.