A turnaround advisor who had previously worked for a client of Prestige was hired by a bankruptcy trustee to assist in obtaining Debtor in Possession (DIP) financing for this 7 entity holding company.
Former client sold a division of their company allowing them to operate without a working capital facility.
Truck Repair and Restoration
Company was expanding rapidly but their bank would not expand their existing credit line
Client was seeking acquisition financing and had been working with an asset based lender to finance the acquisition. The asset based lender was taking too long to close and the client was at risk of losing the opportunity to acquire the target company.
Media and Branding Company
The company bills their clients in installments under a contract. They had been financed by a factoring company who could not finance milestone billed receivables, therefore most of their invoices were deemed ineligible for funding.