Client: New York-based hosiery manufacturer with $3 million in annual sales.
Situation: This ten-year-old company had an opportunity to accept a $10 million dollar order from a well-known retailer but lacked adequate financing.
Need: Unable to fund this larger order, the client secured purchase order financing. The purchase order financing firm, in turn, introduced the client to Prestige to factor the receivables in order to repay the purchase order financing.
Solution: In less than two weeks, both the purchase order and factoring facilities were in place, enabling the client to manufacture the goods and quadruple sales.