NEW JERSEY (November 24, 2020) – Prestige Capital Finance, LLC recently delivered a $2.0 million factoring facility to a reverse logistics company that specializes in managing excess inventory on behalf of its retail clients. The company helps retailers sort clearance merchandise and retag and repackage past-season, factory-excess and customer returns.
Referred to Prestige Capital by a business consultant, this Connecticut-based company needed financing as a result of the pandemic. The company was impacted during shelter-in-place mandates when inventory was not moving. Recently, however, the company received a surge of requests as retailers across the U.S reopened their doors.
“Prestige is pleased to provide flexible financing to companies that were impacted by the pandemic,” said Stuart Rosenthal, President of Prestige Capital. “Our accounts receivable financing enables businesses to access capital when they need it so that they can continue to provide uninterrupted services.”
Over the past few months Prestige Capital has funded a record number of businesses that were impacted by COVID, including companies that have seen increased demand for goods and services.
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.