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Carton Manufacturer

  • Carton Manufacturer

    $ 300,000

    Factoring

    New Jersey
    • Client: U.S. Subsidiary of German carton manufacturer with $5 million in annual sales.

    • Situation: The ten-year-old subsidiary was historically funded by its foreign parent company. Due to the global banking environment, the parent company made an abrupt decision to stop supporting the U.S. subsidiary. As a result, the subsidiary faced closure if it could not secure financing.

    • Need: The subsidiary needed immediate stand-alone financing to provide for its ongoing capital needs.

    • Solution: Within four days, Prestige purchased and funded $300,000 in receivables which prevented a disruption in operations and preserved jobs. Without this funding, the subsidiary probably would have closed.