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 and Distributor of Swimming Pool Accessories
Client: Creator, manufacturer and distributor of innovative swimming pool accessories.
Situation: Client’s business was beginning to grow beyond his initial seed investment.
Need: Client was seeking purchase order financing and factoring to fill his orders which were growing in size.
Solution: His investment banker made an introduction to Prestige. Coordinating efforts with our Purchase Order finance partner, we were able to assist the client to fill his orders ensuring his continued steady growth.
Online Publisher and Experiential Brand
Client: NY based online publisher and experiential brand.
Situation: Their bank was no longer able to provide financing as their financials no longer supported the loan amount that they had.
Need: Cash flow to support their growth.
Solution: Prestige was able to finance their receivables and pay off their bank so that they could focus on their growth.
Women’s Apparel Company
Client: Southeast based women’s apparel company.
Situation: This client had recently ended her partnership with one partner and was forming a new corporation with her overseas supplier.
Need: Client needed to have a financing partner to give comfort to her suppliers that she would have steady cash flow to pay for the product in a timely manner as well as have credit protection on her retail invoices.
Solution: Putting together a 1 million line for this client, Prestige was able to ensure that her business could scale up quickly and that Prestige’s credit department could monitor her retailer’s credit.
Architectural Metal and Glass Company
Client: NY based architectural metal and glass company.
Situation: The client’s orders were growing quickly and they were having difficulty with cash flow with their current bank line.
Need: A larger line to support their growth. Their banker recognized that by replacing their bank credit line with cash flow on their invoices, the client would be able to accept much larger contracts whose invoices would be financed by Prestige.
Solution: The client is now able to take on much larger orders. They are grateful that their banker recognized that Prestige’s program was a better fit for their rapid growth than traditional bank financing.
Client: NY based Perfume Distributor
Situation: The client had large invoices from Overstock.com
Need: Client needed to finance their invoices in order to pay suppliers so that they could continue to get product and grow their business. Their banker recognized that with invoice financing there is no cap on the volume that Prestige will finance therefore would be a perfect fit for their client who was getting inundated with large holiday orders.
Solution: The client’s business has grown quite rapidly as they were only limited by cash flow, not their ability to obtain large orders. This holiday season was their best yet!