$ 1,000,000| Factoring| New York
- Client: New York bridal wear design company.
- Situation: 13 year old bridal wear designer obtained a large order from a major retailer for her fashion line.
- Need: Client required financing on this one account in order to pay her supplier and all other factoring companies programs required her to sell all her receivables rather than just the receivable from the major retailer.
- Solution: Prestige’s flexible finance program allowed the client to factor just this one account (also known as spot factoring) enabling her to continue to invoice and collect from all her other accounts directly. Prestige provided a $1 million dollar line in order to fund the large invoice within a week and allowed the client to maintain the control of her business that she was seeking.