Consumer Goods and Services
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.
Manufacturer of Specialty Vehicles
The client was purchasing a fabricator of specialty vehicles from an Assignee for the Benefit of Creditors.