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Recent Transactions

  • Marble and Tile Importer

    $ 3,000,000


    Long Island
    • Client: Long Island-based marble and tile importer with $10 million in annual sales.

    • Situation: The twenty-year-old company had historically been self-funded. The importer experienced a cash flow crunch when its receivable turnover slowed to an unprecedented 60 days and its vendors required payment within 30 days.

    • Need: The client needed a working capital line to close the accounts receivable/accounts payable gap and take advantage of trade discounts.

    • Solution: Prestige provided $3 million in receivables funding. The company was no longer strained by the slow turnover of receivables and increased sales by 20% in three months.

  • Information Technology Company

    $ 1,000,000


    • Client: Texas-based Information technology company with $6 million in annual sales.

    • Situation: The five-year-old company obtained a $5.5 million three-year contract.

    • Need: The client needed immediate working capital to pay its overseas service subcontractor in a timely fashion.

    • Solution: Prestige quickly met with management at their Texas headquarters and funded over $1 million of accounts receivable within four business days.

  • Manufacturer of Thermal Backfill

    $ 900,000


    New England
    • Client: New England-based refrigeration and air conditioning service specialist with $4 million annual sales.

    • Situation: The twenty-year-old company’s existing lender could no longer support its rapid growth. The company was awarded two long term contracts which would almost double their revenue.

    • Need: The client needed a growth facility which would enable them to accept and support large orders.

    • Solution: The existing lender felt a strong loyalty to client and agreed to a structured payoff to expedite the closing and support the client’s needs. Within seven days, Prestige provided a factoring line which enabled client to transition seamlessly.

  • Manufacturer of Telephone Accessories

    $ 2,500,000


    New Jersey
    • Client: New Jersey-based manufacturer of telephone accessories with $1million in annual sales.

    • Situation: The start-up was looking for an alternative to raising equity at the early stage of their business.

    • Need: The client needed working capital to pay overseas suppliers in a timely manner.

    • Solution: Prestige provided a $2.5 million factoring line of credit to meet the client’s initial needs and provide for ongoing growth.

  • Software Consultant

    $ 750,000


    New York
    • Client: New York-based Microsoft software consultant with $4 million annual sales.

    • Situation: The six-year-old company was seeking to refinance its line when it became a victim of a bait and switch scenario by an unscrupulous lender. Shortly before loan closing the company learned that the lender’s actual terms varied drastically from the original proposal.

    • Need: The client was in need of immediate financing and wanted a lender they could trust.

    • Solution: Prestige provided a fast, simple and straightforward proposal and closed on a factoring facility within five business days.