Wednesday, April 27, 2016

Small Business Success Story - Michael Riotto Design

Each year the New York Small Business Development Center recognizes outstanding small businesses in a variety of ways.  This Success Story from the  Queens-Laguardia SBDC appears in our 2015 Annual Report

Michael Riotto
Michael Riotto Design
Queens-LaGuardia SBDC

Michael Riotto is the principal of Michael Riotto Design, LLC (MRD), a lighting manufacturer and design firm in Long Island City that was established in 2005. MRD designs are modern, contemporary and vintage, and its staff manages all aspects of project work from consultation through product development, sourcing, specification and installation.

The company’s mission is to provide the highest quality of service first combined with the latest technology and expertise to create successful projects for its clients. MRD manufactures lighting for piers, parks, cruise ships and theaters, among other places. Michael consulted the LaGuardia SBDC when seeking a line of credit to stabilize the company’s cash flow. 

Director Rosa Figueroa assisted him by connecting him with several lenders; ultimately Santander Bank was the best fit for the business. Santander Bank approved a $100,000 line of credit, which solved the client’s working capital needs. As a result, Michael was able to save 18 jobs and create a new position. Michael has plans to grow the business and will continue to consult SBDC as needed. He thanked Rosa, saying 

“Thank you!! for all your hard work, efforts and generosity in connecting us with several potential lenders. I really appreciate all your help and everything you have done with our business to see it grow and succeed." 

No comments: