Snow Removal Company
Client: New Jersey-based snow removal company with $3 million in annual sales.
Situation: Six-year-old business had outgrown its line of credit with a local bank.
Need: The client needed a larger financing facility to support seasonal demands and accelerate cash flow.
Solution: Prestige provided a $750,000 factoring line to solve the immediate cash flow crunch and provide for seasonal sales fluctuations.
Dental Hygiene Inventor
Client: Florida-based dental hygiene inventor.
Situation: After many years of development, a start-up with an innovative product was successful in reaching an exclusive agreement with a large national retailer.
Need: Due to the sales concentration risk, the client had difficulty obtaining traditional financing from a bank.
Solution: Prestige provided a factoring facility of $1 million without restrictive covenants related to the sales concentration account.
Novelty Product Manufacturer
Client: Massachusetts-based Novelty Product Manufacturer.
Situation: 11-year-old company was being liquidated by its existing lender.
Need: One of the company’s existing owners was seeking to acquire and re-start a profitable division of the company.
Solution: Prestige provided financing to fund the acquisition of certain property of the liquidating estate from the lender and support future growth.
Client: Florida-based call center with $15 million in annual sales.
Situation: A re-start of a company lacked financing for working capital needs.
Need: This fast-growing company was looking to keep its cash flow moving smoothly and did not want to dilute its ownership through equity financing.
Solution: Prestige provided a $1 million dollar factoring line with a tiered pricing structure based on volume.
Consumer Electronics Company
Client: Midwest-based consumer electronics company with $75 million in annual sales.
Situation: The bank for this eight-year-old seasonal business failed to close a new line of credit in a timely manner.
Need: The client needed bridge financing to fill the gap until permanent financing could be obtained.
Solution: Within five business days, Prestige provided a $5 million bridge facility to alleviate the timing pressure until the company’s bank could close the facility.