Houston, Texas

A young company in the renewable energy field found themselves in a cash flow predicament. They provide specialized maintenance services for wind turbines and as business opportunities were increasing, so was their payroll. They needed to bridge the gap between billing for completed work and receiving payment 30-60 days later in order to cover their regular payroll. Another client referred them to Riviera and they now have a $250,000 factoring line to provide them the working capital they need to continue growing their business.

A local delivery service, had reached their credit limit with their bank. The bank refused to raise the limit so that the company could grow so they turned to Riviera. We worked with the bank to come up with a plan for Riviera to provide the company with the needed credit for future growth. Now, the company is able to expand and prosper without worrying about credit limit restraints. In addition, Riviera’s Online Account Management (ROAM) service has helped the company to keep a firm handle on their customers down to each invoice.

This company was established because of the increased demand for welding and fabrication to service the oil & gas industry. They had been self-funding and operating successfully for two years. As they continued to take on new customers, they found that waiting 30 to 60 days for payment was no longer a viable option for their business. After setting up a factoring facility with Riviera, they are now able to take on new business with confidence that money won’t be a problem.