Dental Hygiene Inventor
Client: Florida-based dental hygiene inventor.
Situation: After many years of development, a start-up with an innovative product was successful in reaching an exclusive agreement with a large national retailer.
Need: Due to the sales concentration risk, the client had difficulty obtaining traditional financing from a bank.
Solution: Prestige provided a factoring facility of $1 million without restrictive covenants related to the sales concentration account.
Client: Florida-based call center with $15 million in annual sales.
Situation: A re-start of a company lacked financing for working capital needs.
Need: This fast-growing company was looking to keep its cash flow moving smoothly and did not want to dilute its ownership through equity financing.
Solution: Prestige provided a $1 million dollar factoring line with a tiered pricing structure based on volume.
Architectural Design Firm
Client: Connecticut-based architectural design firm with $10 million in annual sales.
Situation: The six-year-old firm obtained a large project to design an amusement park exhibit which was billed on a progress basis with extended terms
Need: The client needed immediate access to cash flow for payroll and overhead expenses.
Solution: Within four business days, Prestige creatively confirmed payment with the customer and subsequently funded the initial phase of the project. That funding allowed the project to continue seamlessly.
Sustainable Building Systems
New York, New York
Client: NY-based sustainable building system company with $2 million in annual sales.
Situation: A three-year-old environmentally friendly company had experienced strong growth. Given its short history and inability to show strong financial performance, the company was unable to obtain traditional bank financing. Prestige was introduced to the client by a banker who was unable to provide a loan but wanted to provide banking services to the company.
Need: The client needed suitable financing to support its growth.
Solution: Within two weeks, Prestige funded the company’s current receivables with a $500,000 line and wired the funds to a new account opened at the bank that introduced Prestige to the client.
New York, New York
Client: New York-based hosiery manufacturer with $3 million in annual sales.
Situation: This ten-year-old company had an opportunity to accept a $10 million dollar order from a well-known retailer but lacked adequate financing.
Need: Unable to fund this larger order, the client secured purchase order financing. The purchase order financing firm, in turn, introduced the client to Prestige to factor the receivables in order to repay the purchase order financing.
Solution: In less than two weeks, both the purchase order and factoring facilities were in place, enabling the client to manufacture the goods and quadruple sales.