Digital Media Products and Services
Client: New Jersey Digital media products and services
Situation: Recently spun off from a much larger corporation this employee owned company was paying off a large note to the parent company and was in a cash-crunch.
Need: Cash flow to pay off debt and support growth
Solution: Prestige was able to provide the much-needed cash flow by financing their accounts receivables which enabled them to service their customers and pay off their note to the parent company.
Textile Designers and Manufacturers
Client: New Jersey Textile designers and manufacturers
Situation: Company needed financing to import materials to create, manufacture and sell to their large customer
Need: Both Purchase Order Financing and Accounts Receivable Financing to import raw materials for textile product manufacturing.
Solution: Prestige was able to arrange for factor’s assurance letter to their key suppliers enabling them to import the goods that they needed to manufacture their product.
Manufacturers of Skin Care Products
Client: New York Skin care manufacturer
Situation: Company was experiencing a cash crunch due to extended terms with their largest customer.
Need: Cash flow to maintain operations
Solution: Prestige was able to factor their large receivable giving them the much-needed cash flow to service their customer base.
Custom Minted Coins and Medals
Client: Nevada Manufacturer of Custom minted coins and medals
Situation: Company had just filed bankruptcy and needed funds to continue production
Need: Debtor in possession financing
Solution: In less than a week, Prestige was able to fund the company’s accounts receivables while in chapter 11 bankruptcy so that they could fill their existing orders.
Truck Repair and Restoration
FactoringUpstate New York
Client: Upstate New York truck repair and restoration company
Situation: Company was expanding rapidly but their bank would not expand their existing credit line
Need: A finance company to give them greater liquidity.
Solution: Prestige tripled their credit line so that they could pay off their existing bank and immediately facilitate growth.