NEW JERSEY (December 9, 2020) – Prestige Capital Finance, LLC recently delivered a $1.5 million factoring facility to a company that manufacturers and packages frozen treats for well-known food and beverage companies. The funds were used to expand this contract manufacturer’s product line.
Initially introduced by a purchase order finance company, this New Jersey-based company needed additional support to fund a line of alcohol-based freezer pops for a major beverage supplier and distributor. Prestige was able to reduce the purchase order finance company’s exposure and provided for additional working capital all within a week of the application being completed.
“Prestige is delighted to support contract manufacturers,” said Stuart Rosenthal, President of Prestige Capital. “With our accounts receivable financing, we can provide fast funding to ensure contract manufacturers meet their clients’ needs in a timely manner.”
Over the past few months Prestige Capital has funded a record number of businesses looking to pivot and expand their product set. Through referral partners, such as purchase order financings companies, Prestige is able to deliver financing to a broad range of companies.
About Prestige Capital
For over 34 years, Prestige Capital has helped nearly one thousand Early Stage and Mid-Size companies grow or turn around their businesses by providing more than $4 billion in cash advances, converting accounts receivable into immediate working capital. Visit www.prestigecapital.com or call 877-944-4455 to learn more.