FORT LEE, NJ (MARCH 2022) — A New York based construction design consulting firm was acquired by new owners. They were unable to get funding from their bank due to legal and financial issues that took place under previous ownership. Though their bank had recently exited their loan, their banker knew of Prestige’s unique underwriting capabilities and referred the client to Prestige Capital. “When we say relationships matter, we mean it.”, says Stuart Rosenthal, President at Prestige Capital. “Our database is not just a collection of contacts, it’s a network of relationships that we leverage to support our clients.”Prestige has been partnering with this particular banker for years. “We’ve successfully funded various deals with this referral partner over the years.” says Rachel Hersh, Sales Director, North America at Prestige Capital. “Partners know that we don’t base our decision on the financial strength or weakness of our clients, rather we focus on the quality of the accounts receivable. This gives them confidence that Prestige can finance companies that have good accounts receivable without their financial strength being a barrier. This partnership keeps Prestige top of mind when a deal with AR crosses their desk and needs cash flow fast.”Access to this funding allowed this construction design consultant firm to obtain the cash they needed to transition smoothly. The $12,000,000 line provided the client the liquidity that they needed to bid on and fulfill new contracts without skipping a beat. Now, just like their clients, they have a strong foundation they can build on.
About Prestige Capital
For over 36 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:Prestige Capital400 Kelby St., 10th FloorFort Lee, NJ 07024 USAToll free Phone: 877-944-4455www.prestigecapital.com