Client: Janitorial Maintenance
Situation: A turnaround advisor who had previously worked for a client of Prestige was hired by a bankruptcy trustee to assist in obtaining Debtor in Possession (DIP) financing for this 7 entity holding company.
Need: These companies had been self- funded. However, needed relief and financing due to a large federal tax lien.
Solution: Within 5 business days, Prestige provided the DIP financing needed to keep the company operational while developing its plan of reorganization.
US Subsidiary of Hi-tech Electronic Manufacturer
Client: US Subsidiary of Hi-tech Electronic Manufacturer
Situation: Foreign-owned company had US presence but no operational or support staff in the US.
Need: Client sought acquisition financing to assist in the purchase of this entity and incorporate in the US.
Solution: The combination of factoring the target’s A/R and the unencumbered A/R of one of their other holdings provided the necessary funds to complete the acquisition within 2 weeks of being introduced to the deal.
Manufacturer of Rugged Electronics for Industrial Use
Client: Manufacturer of Rugged Electronics for Industrial Use
Situation: Large global manufacturer decided to sell off a small division based in the US.
Need: Buyer needed nominal working capital for operations but needed available funds to assist them acquiring a US Subsidiary of a Hi-tech Electronic manufacturer and operate that business from its current offices.
Solution: Even though a large concentration existed in the customer base, Prestige was able to fund all of their accounts receivable which not only provided the working capital to operate the business effectively but provided the additional capital needed to close the acquisition.
Client: Trade Magazine
Situation: Former client sold a division of their company allowing them to operate without a working capital facility.
Need: Within a year, they found themselves in a cash crunch again.
Solution: Since they had enjoyed their flexible financing relationship with Prestige Capital they seamlessly returned and immediately improved their cash flow once again.
Technology / Manufacturer
Client: US Subsidiary of an Israeli company creating technology and manufacturing of a product for municipal contracts.
Situation: Client was seeking growth capital as their orders for this in-demand product were growing rapidly.
Need: Obtaining large purchase orders for their product in excess of 1 million dollars they needed to act quickly to find a finance company that could fund large concentration accounts and keep their business moving forward without skipping a beat.
Solution: Their CPA, an investor in this company, reached out to his banker to see if any finance firms would finance US subsidiaries and concentration accounts. The banker made the introduction to Prestige and promptly financed this client and assisted in their rapid growth here in the US.