Consumer Goods and Services
Perfume Packaging Company
The two-year-old business had a significant sales concentration which made it very difficult to obtain traditional bank financing. In addition, the company required purchase order financing to fulfill large perfume orders.
Importer of Household Goods
The three-year-old company had a strong backlog of orders but did not have adequate cash flow to purchase inventory to fulfill them. The importer applied for an SBA loan but was told it would take a while to get approved.
The start-up company, which was originally seeking equity financing, was introduced to Prestige by a bank seeking their non-lending business. The client had a 100% sales concentration account which made it very difficult to raise equity or obtain traditional bank financing. In addition, the client’s contract manufacturer was unable to provide terms due to a lack of payment history.
Consumer Products Company
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.
Automotive Parts Manufacturer
22-year-old manufacturer was in aggressive acquisition mode during the downturn in the automotive industry.