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.
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.
Food and Drug Manufacturer
Client: Food and drug manufacturer based in Upstate NY.
Situation: Client was receiving large orders to manufacture private label products for large distributors. They were unable to fill these orders without a financing partner.
Need: A credit facility to ensure that they would have availability to buy raw materials to create their product and fill their orders in a timely manner.
Solution: Within one week Prestige was able to finance their invoices and keep up with their growing pipeline.
Media and Branding Company
Client: New York based media and branding company.
Situation: The company bills their clients in installments under a contract. They had been financed by a factoring company who could not finance milestone billed receivables, therefore most of their invoices were deemed ineligible for funding.
Need: They needed an experienced factoring firm who understood their industry and the nature of their billing who could provide the financing that they needed in order to keep their cash flow steady.
Solution: Their banker was able to make an introduction to Prestige; the appropriate firm for their needs. Prestige was able to replace their current factor, giving them access to greater liquidity by financing all of their receivables, including those that are billed in milestones.