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Technology Staffing Company

  • Technology Staffing Company

    $ 500,000

    Factoring

    New Jersey
    • Client: New Jersey-based technology staffing company.

    • Situation: The three-month old company was experiencing working capital constraints due to customers stretching their payments to more than 45 days.

    • Need: The client needed working capital to meet payroll and related tax expense and had a payroll that was quickly coming due.

    • Solution: Within three business days, Prestige provided a $500,000 factoring line of credit which enabled the client to meet their payroll expense and provided ongoing working capital.