$ 500,000| Factoring| New Jersey
$ 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.
