Boston, Massachusetts

This staffing company was financing their accounts receivable with another factoring company, but looking for a higher advance rate and more competitive terms, such as no minimum monthly fees. The company added five more medical centers to their list of customers this month and would have had trouble meeting payroll without a higher advance rate. Riviera was able to meet their needs and buy out the other factoring company, providing a smooth transition.

Growing IT Staffing Company won a bid with a government agency to provide temp placements and quickly doubled their size and payroll. They needed increased cash flow to meet their weekly payroll as they waited to be paid from their clients. The company reached out to Riviera Finance and expressed their need for immediate capital. Riviera Finance completed the application approval, verification and funding process quickly & seamlessly and the company was able to meet their payroll deadline.

The company is now pursuing larger projects, now that they have Riviera Finance in place to provide working capital to support their growth.

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!