Calgary, Alberta

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.

In the spring of 2012, an IT services company based in Kirkland, WA landed its first engagements with Amazon and Nintendo. Recognizing the added personnel could create a biweekly payroll cash crunch, the client approached a number of factoring companies to compare options. Banks were in a state of retreat, offering prohibitively small credit limits. The client did not want to dilute equity by taking on additional investors.

After entertaining five different proposals, Riviera Finance was selected due to its financial strength, credit rating, program flexibility and simplicity, its 42 years in business, and also based the strength of its client recommendations – all areas where our competitors often come up short. In exchange, Riviera Finance has given the client total expansion flexibility, enabling it to add new staff at a moment’s notice. This in turn has led to an increased level of engagement with both Nintendo and Amazon, as their respective project managers have witnessed the client’s ability to seamlessly supply new, highly qualified, well paid staff to its most important IT projects on short notice.

Riviera Finance helps owners spend far less time navigating cash flow issues, freeing them up to focus on the “business” side of their business.

This government contractor sells PPE to the state of California. With the increased demand due to the COVID-19 outbreak, they needed some cash flow quickly to keep up with the demand. They submitted their application over a holiday weekend and four days later received $750k in their bank account. They are now able to pay their supplier on time and continue fulfilling more orders.