New Orleans, Louisiana

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.

This new business had previously been factoring with another factoring company on a recourse basis but had issues with chargebacks when their customers did not pay after a set period of time.  They were in need of a better factoring partner and that’s when they found Riviera.  Riviera was able to offer them a $150,000 non-recourse factoring line so they could confidently take on new business customers and not worry about chargebacks negatively impacting their cash flow.

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.