BACK OFFICE SERVICES
Client: New York-based hosiery manufacturer with $3 million in annual sales.
Situation: This ten-year-old company had an opportunity to accept a $10 million dollar order from a well-known retailer but lacked adequate financing.
Need: Unable to fund this larger order, the client secured purchase order financing. The purchase order financing firm, in turn, introduced the client to Prestige to factor the receivables in order to repay the purchase order financing.
Solution: In less than two weeks, both the purchase order and factoring facilities were in place, enabling the client to manufacture the goods and quadruple sales.
Nutritional Juice Company
Client: New York-based nutritional juice company.
Situation: Early stage venture looking for start-up financing.
Need: The client was seeking an alternative to equity funding to fulfill its initial orders from a big box retailer.
Solution: Prestige provided a $750,000 factoring line in less than seven business days which allowed the juice company to fulfill the orders and take advantage of new opportunities.
Client: Ontario, Canada-based call center with $50 million in annual sales.
Situation: Ten-year-old call center was being acquired by a U.S. investor group.
Need: The investors were seeking to leverage the receivables of the call center to complete the acquisition and provide ongoing working capital.
Solution: In less than two weeks from the initial inquiry, Prestige provided a $5 million factoring line, allowing the buyers to complete the cross-border acquisition with a nominal equity investment.