$ 1,350,000| Factoring | Midwest
$ 1,350,000| Factoring | Midwest
Client:
Midwest consumer products company with $20 million in annual sales
Situation:
The fifteen-year-old company’s lender was unable to provide a scheduled seasonal over advance due to issues with its own bank. The client was at risk of losing $5 million in sales.
Need:
he client was seeking immediate funding to fulfill its orders.
Solution:
Within seven business days, Prestige was able to negotiate an intercreditor agreement (carve out) with the bank to provide the client with the liquidity needed to meet its seasonal demands.
