Social Media Publisher
Client: New York-based social media publisher with $8 million in annual sales.
Situation: The four-year-old company was experiencing rapid growth due to the proliferation of social media across corporations.
Need: The client needed a flexible working capital facility to keep pace with increasing operating expenses.
Solution: In less than two weeks from initial inquiry, Prestige was able to provide a $3 million line to the publisher, thereby freeing the business owners to pursue new creditworthy business.
Client: Midwestern U.S. manufacturer with over $1 billion in annual sales.
Situation: The subsidiary’s parent company embarked on a major capital expenditure program, resulting in restrictions on intercompany advances.
Need: Although strong financially, the client needed working capital flexibility without creating debt.
Solution: Prestige purchased their receivables without recourse through a $30 million factoring line, so the client could have access to immediate cash. As factoring is not a loan, the company assumed no debt on its balance sheet.
Creative Services Firm
Client: New York-based creative services firm with $2.5 million in annual sales.
Situation: The one-year-old company creates advertising jingles for airlines and other clients. It takes the firm 45 to 60 days to generate billable work and then an additional 45 days before payments are received. This lengthy cycle resulted in cash flow constraints for the firm.
Need: The client required working capital financing to support this growing business.
Solution: Prestige provide a $500,000 line which bridges the gap between invoicing and payment and supports daily working capital needs.
Importer of Gift Tea Packages
Client: New Jersey-based importer of gift tea packages with $22 million in annual sales.
Situation: The sixty-five-year-old company had historically been self-funded. The importer began to purchase inventory from a new overseas supplier which offered lower prices and higher quality, but could not grant credit terms.
Need: The client needed financing to afford upfront payments for orders and shipping costs, and prepare for seasonal peaks.
Solution: Prestige provided a $750,000 factoring line which allowed the client to pay suppliers upon receipt of product, and has increased profitability and sales volume.
Security Guard Company
Client: New York-based security guard company with $1 million in annual sales
Situation: Two-year-old company faced a 45 day gap between invoicing and receiving payments from customers.
Need: The client needed financing to make payroll, take on new customers and prepare for seasonal peaks.
Solution: In less than three business days from application, Prestige funded their weekly payroll. The client is now able to bid on and secure additional large contracts with the confidence that payroll will always be met.