FORT LEE, NJ (JULY 2021) – Prestige Capital recently provided $5,000,000 to a fashion and jewelry importer and distributor that shifted to sell PPE and Medical Equipment during the pandemic. The funding was used to replenish resources required to produce these new items.
In order to survive and thrive during the pandemic, this New York based importer and distributor leveraged its vast existing relationships with factories and salespeople across the globe to procure gloves and disposable masks. This resulted in a large purchase order from a retailer. The company has now expanded to sell supplies to governments, hospitals, and nursing homes.
This importer and distributor came to Prestige by way of a broker who was working with another lender that was not able to complete the funding within the required timeframe.
“Prestige is pleased to help established companies pivot during the pandemic.” said Stuart Rosenthal, President of Prestige Capital. “Prestige has increasingly played a role in helping importers and distribution companies expand their product line to include PPE and medical supplies.”
In 2020, Prestige Capital funded a record number of companies across a broad range of industries. This year, Prestige expects to continue to serve companies that pivot as the economy opens and they explore innovative ways to stay in business.
About Prestige Capital
For over 35 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. Prestige Capital continues to help companies who do not qualify for traditional bank financing or who need financing faster than a bank’s lengthy underwriting process allows. Our goal is to help entrepreneurs reach the next level, whether that’s ultimately selling the business or being established enough to switch to traditional bank financing.
To learn more, contact:
400 Kelby St., 10th Floor
Fort Lee, NJ 07024 USA
Toll free Phone: 877-944-4455