Typically, as a company grows so does its need for financing. Companies need to have ready capital to take advantage of opportunities that arise, whether it is organic growth or by acquisition. Factoring provides peace of mind and reliable financing.
Manufacturer of Rugged Electronics for Industrial Use
Client: Manufacturer of Rugged Electronics for Industrial Use
Situation: Large global manufacturer decided to sell off a small division based in the US.
Need: Buyer needed nominal working capital for operations but needed available funds to assist them acquiring a US Subsidiary of a Hi-tech Electronic manufacturer and operate that business from its current offices.
Solution: Even though a large concentration existed in the customer base, Prestige was able to fund all of their accounts receivable which not only provided the working capital to operate the business effectively but provided the additional capital needed to close the acquisition.
Technology / Manufacturer
Client: US subsidiary of an Israeli company which creates technology and manufactures a product for municipal contracts.
Situation: Client was seeking growth capital as their orders for this in-demand product were growing rapidly.
Need: Due to large purchase orders for their product in excess of 1 million dollars, they needed to find a finance company quickly that could fund large concentration accounts and keep their business moving forward without skipping a beat.
Solution: Their CPA, an investor in the company, reached out to his banker to see if anybody would finance US subsidiaries and concentration accounts. The banker made the introduction to Prestige who promptly financed this client and assisted in their rapid growth in the US.
Digital Media Products and Services
Client: New Jersey Digital media products and services
Situation: Recently spun off from a larger corporation, this employee owned company was required to pay off a large note to the parent company.
Need: Cash flow to pay off debt and support growth
Solution: Prestige was able to provide much-needed cash flow by financing their accounts receivables, this enabled them to service their customers and pay off their note to the parent company.
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 had the ability to pay off their existing bank and immediately facilitate growth.
Solar Panel Engineering Firm
Client: West Coast solar panel engineering firm
Situation: Client’s business had been funded by investors. As business grew rapidly, the investors required that the company obtain additional working capital for payroll and other day to day needs.
Need: Client was seeking a finance company that understood the nature of their business and who could finance invoices that are often billed in milestones.
Solution: Their investment banker brought the client to Prestige and within a week Prestige was able to put a facility in place that pleased their investors and gave the client the working capital that they needed to keep pace with their rapid growth.