$ 30,000,000|Income Financing |Midwest
- Client: Midwestern U.S. manufacturer with over $1 billion in annual sales.
- Situation: The subsidiary’s parent company embarked on a major capital expenditure program, resulting in restrictions on intercompany advances.
- Need: Although strong financially, the client needed working capital flexibility without creating debt.
- Solution: Prestige purchased their receivables without recourse through a $30 million factoring line, so the client could access immediate cash. Since factoring is not considered a loan, the company assumed no debt on its balance sheet.