A measure of both a company’s efficiency and its short-term financial health, working capital is the cash a business requires to fund day-to-day operations. At times, working capital constraints occur due to rapid growth, seasonality, delayed customer payments and other unexpected events. Factoring provides immediate access to cash for business owners.
New York Lifestyle Magazine
Service ProvidersNew York
Client: New York Lifestyle Magazine
Situation: Client sought immediate cash flow to continue operations during their off season.
Need: Because of the seasonality of their business, their financials made it extremely difficult to obtain bank financing.
Solution: As a factoring company, Prestige Capital was able to finance their invoices even though they were seasonal by nature. Prestige was able to fund the client in two weeks, enabling them to make payroll and pay their printer.
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.
Georgia Accessory Company
Client: Georgia Accessory Company
Situation: This client received a large order to have his product featured in a subscription based delivery box.
Need: Since this order was much larger than his typical volume, the client sought liquidity in order to pay his supplier in a timely manner.
Solution: The client was able to sign on to Prestige Capital’s program within a week, financed this single debtor account, and paid his supplier promptly.
Boston Technology Company
Client: Boston Technology Company
Situation: The client’s business was growing rapidly as his business was in the rapidly growing sector known as IoT (internet of things).
Need: As additional restaurants were signing up for the client's services, the company realized that their existing financing was insufficient for such rapid growth.
Solution: By partnering with Prestige Capital, he was able to keep cash flow steady and sign on new accounts at a rapid pace. This was done without seeking additional equity, which would have required substantial time and energy during this fast-paced sales cycle.
North Carolina Men’s Grooming Tool
Consumer ProductsNorth Carolina
Client: North Carolina Men’s Grooming Tool
Situation: This company experienced a sharp increase in sales after exposure on a television program.
Need: The client needed liquidity to support their rapid growth.
Solution: Within two weeks, the client financed their receivables, providing their factories comfort to continue to shipping rapidly during a period of growing volume.