RefinancingWhen 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.
Pennsylvania Software and E-Learning Company
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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
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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
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
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.
Consumer ProductsNew 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.