Consumer ProductsNew York
Client: Lifestyle Magazine
Situation: This lifestyle magazine had gone through financial difficulties as the magazine industry has taken a downturn in recent years. Their bank no longer supported them and asked them to find a new lender. The lender that they had been negotiating with for the previous 45 days suddenly declined the financing.
Need: A financial partner who would look beyond their financial statements and fund them based on their receivables which were strong and performing.
Solution: After being introduced by an investment banker, Prestige Capital was able to relieve them of the stress caused by the other finance company and close the deal in a matter of days satisfying their bank’s payoff deadline.