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Refinancing

When a company enters or exits a growth stage, is experiencing financial or operational challenges, or has outgrown its current bank, it is likely time to secure replacement financing. Factoring is a very powerful financing tool and should be considered by business owners when going through periodic refinancing exercises.

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• Pennsylvania Software and E-Learning Company

  $ Line Amount

  Service Providers

  Pennsylvania

  • Client: Pennsylvania Software and E-Learning Company

  • Situation: Company was introduced to Prestige after they had experienced losses and needed to exit their current financing with the bank.

  • Need: The bank needed to be paid off quickly before quarter end.

  • Solution: Prestige worked closely with the bank’s workout team to insure the payoff was made with the bank’s requirement.

• Pennsylvania Data Analytics

  $ Line Amount

  Service Providers

  Pennsylvania

  • Client: Pennsylvania Data Analytics

  • Situation: The company which had been funded by a bank was seeking to refinance their bank loan.

  • Need: The bank that had funded them had exited this business sector and was seeking a finance firm to replace the bank’s current financing.

  • Solution: Prestige quickly funded their receivables, paying off the bank in a timely manner.

• Minnesota Recycling Company

  $ 7,000,000

  Service Providers

  Minnesota

  • Client: Minnesota Recycling Company

  • Situation: Client’s lender was looking to exit their financing relationship as their loan became too small.

  • Need: A lender to replace their bank who would provide working capital, flexibility and sufficient funds to pay off existing lender.

  • Solution: Prestige Capital provided the pay off to their lender and funded their ongoing operations seamlessly.

• Massachusetts Toy Company

  $ 2,000,000

  Consumer Products

  Massachusetts

  • Client: Massachusetts Toy Company

  • Situation: This company had been purchased in bankruptcy by an investor and required cash flow for operations.

  • Need: Client needed immediate cash flow for operations and for payment licensing fees.

  • Solution: Within one week Prestige Capital financed the client’s receivables enabling client to pay licensing fees in a timely manner, as well as, provide ongoing cash flow to pay suppliers.

• Lifestyle Magazine

  $ 1,500,000

  Consumer Products

  New York

  • Client: Lifestyle Magazine

  • Situation: This lifestyle magazine had gone through financial difficulties as the magazine industry has taken a downturn in recent years. Their bank no longer supported them and asked them to find a new lender. The lender that they had been negotiating with for the previous 45 days suddenly declined the financing.

  • Need: A financial partner who would look beyond their financial statements and fund them based on their receivables which were strong and performing.

  • Solution: After being introduced by an investment banker, Prestige Capital was able to relieve them of the stress caused by the other finance company and close the deal in a matter of days satisfying their bank’s payoff deadline.