Liquor Manufacturer

  • Liquor Manufacturer

    $ 3,000,000

    Factoring

    East Coast
    • Client: East Coast high-end branded liquor manufacturer.

    • Situation: The start-up company, which was originally seeking equity financing, was introduced to Prestige by a bank seeking their non-lending business. The client had a 100% sales concentration account which made it very difficult to raise equity or obtain traditional bank financing. In addition, the client’s contract manufacturer was unable to provide terms due to a lack of payment history.

    • Need: Based on forecasted sales to the customer, the client needed a $3 million line for working capital needs.

    • Solution: After performing due diligence on the client’s customer, Prestige provided a $3 million factoring line, without diluting equity. Additionally, the referring bank obtained the banking relationship for the client. One and a half years later, the owner sold to a conglomerate for $30 million.